Bitcoin falls toward $71,000 as Nvidia CEO Jensen Huang resigns
Bitcoin fell 3.28% to $71,923, its lowest since Aug. 20 per Cointelegraph, as Nvidia's Jensen Huang resigned and spot ETF outflows ran a fifth day.
Live chart · BTCUSD, ETHUSD, SOLUSDT, XRPUSD · TradingView
Bitcoin fell to $71,923, down 3.28% in 24 hours, as tech stocks slid after Nvidia CEO Jensen Huang resigned. Cointelegraph reports that Bitcoin hit its lowest level since Aug. 20 as the selling spread from Nvidia into the wider tech sector.
That is a further drop from the $73,774 level in our last recap, when MSCI's confirmation of Strategy's index removal was the main pressure. The Nvidia news is the new driver.
Bitcoin
According to CoinGecko data, Bitcoin traded between $71,238 and $74,695 over the past 24 hours. It is down 5.56% over seven days. Spot volume was $29.3 billion and its market value stood at $1,446.5 billion. Price is now near the bottom of the daily range. You can follow the move on the BTC/USD chart.
Ether and the majors
Ether fell 3.66% to $2,011.45 and briefly traded at $1,983.64, below $2,000. Its seven-day loss is now 10.81%. Every major coin in the pack is lower on both windows. XRP has the worst week, down 17.67%.
| Coin | Price (USD) | 24h % | 7d % |
|---|---|---|---|
| Ether (ETH) | 2,011.45 | -3.66 | -10.81 |
| BNB | 656.22 | -4.41 | -4.64 |
| XRP | 1.026 | -3.93 | -17.67 |
| Solana (SOL) | 81.52 | -4.39 | -9.58 |
| Dogecoin (DOGE) | 0.065894 | -4.55 | -8.42 |
| Cardano (ADA) | 0.170983 | -4.62 | -6.45 |
Breadth and sentiment
Total crypto market value is $2.423 trillion, down 5.44% in 24 hours, according to CoinGecko. That is a steeper fall than Bitcoin's, a sign that the rest of the market sold off harder. Bitcoin dominance is 59.6% and Ether dominance is 10.1%.
The Alternative.me Fear & Greed Index reads 28 (Fear), down from 29 yesterday and 32 on Nov. 10. It touched 25 (Extreme Fear) on Nov. 7. A week ago, on Nov. 5, it stood at 50 (Neutral).
What moved the market
Nvidia leadership shock
Decrypt reports that Huang stepped down after reports of affairs with an alleged Chinese spy and a company executive, ending a 33-year run. CFO Colette Kress is interim CEO. CoinDesk says Huang left immediately as president, chief executive and board member, and Nvidia shares slumped. Cointelegraph adds that Kress stays CFO while the board searches for a permanent successor.
ETF outflows reach day five
According to CoinDesk, US spot bitcoin ETFs lost another $299.9 million, the fifth straight day of outflows. Separately, Cointelegraph notes that stablecoin supply fell $14.2 billion over 30 days, leaving markets with "less fuel" to rally.
The macro backdrop also stays tight. Our sister site covers how Fed hike bets pushed the dollar to a 19-month high.
Solana gets a Wall Street nod
In a rare positive headline, CoinDesk reports that DTCC added Solana to its tokenization plans, targeting tokenized stocks, ETFs and US Treasuries in 2027. Decrypt says the service went live last month on Canton and a private network. SOL still fell 4.39% on the day.
What to watch next
- Nvidia's CEO search. The board is looking for a permanent successor, per Cointelegraph. Further tech-stock swings could keep weighing on crypto.
- ETF flows. Whether US spot bitcoin ETF outflows extend beyond five days, as tracked by CoinDesk.
- Illinois crypto tax. The industry told a court the tax is impossible to enforce as written, CoinDesk reports.
- Thailand stablecoin rules. Thailand's SEC has proposed a $148,000 daily cap on stablecoin deposits and withdrawals, according to Cointelegraph.
How we make this article: software gathers the market data and the news from the sources linked in the article, then cross-checks them. AI writes the text. People choose the sources, set the rules and run the process. Not investment advice.