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Bitcoin falls to 12-week low as Jensen Huang's exit from Nvidia rattles markets
Bitcoin fell to a nearly 12-week low of $71,200 on Thursday and was down 3.4% at $71,600 when the article was published. Ethereum, Solana and XRP also declined more than 3.5% over 24 hours, while crypto liquidations exceeded $750 million, mostly from long positions.
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What happened
Bitcoin fell to a nearly 12-week low of $71,200 on Thursday and was down 3.4% at $71,600 when the article was published. Ethereum, Solana and XRP also declined more than 3.5% over 24 hours, while crypto liquidations exceeded $750 million, mostly from long positions.
Confirmed
Global impact / market context
Sharp declines and forced sales can add pressure to crypto prices: liquidations occur when borrowed positions are closed after losses, creating more selling. If buyers do not step in, Bitcoin and related assets may remain vulnerable, while sustained positive exchange-traded fund flows could provide buying support.
Analyst inference
The article links the selloff to uncertainty around Nvidia CEO Jensen Huang and possible selling after MSCI said it will remove Strategy from its indexes on Nov. 30. Strategy is described as a Bitcoin proxy, meaning an investment seen as tracking Bitcoin; the article gives no sale estimate.
Analyst inference
What to watch
- Watch whether Bitcoin holds near $73,000, which a Wintermute trader identified as a potential first support level, and whether buyers become more active at lower prices. Analyst inference
- Track exchange-traded fund flows, meaning money moving into or out of funds that trade on exchanges; the trader said several days of positive flows could change the outlook. Analyst inference
- MSCI confirmed Strategy will leave its indexes on Nov. 30; the article says this creates a risk of passive selling but provides no estimate of its size. Confirmed
Affected assets
- SOL — Solana
- XRP — XRP
- BTC — Bitcoin
- ETH — Ethereum