Bitcoin slid under $73,000 in Thursday morning trading, its weakest level since August, as a deepening selloff in Nvidia shares rippled through technology stocks and spilled into digital assets.
The largest cryptocurrency was down about 1.5% over 24 hours at roughly $72,900, according to market data cited in the reports. The broader crypto market shed about 2% and hovered just above a $2.5 trillion valuation, with Ethereum struggling to defend the $2,000 line and Solana sliding toward $80.
Ethereum fell 1.8% and XRP lost about 2%, trading just above $1, while Solana also dropped 1.8%. Retail sentiment toward Bitcoin on Stocktwits sank into "extremely bearish" territory over the past day, a reading that contrasts with the more moderate "bearish" mood around Ethereum, XRP and Solana.
Nvidia Shockwave Hits Risk Assets
The trigger was a violent move in Nvidia (NVDA), which tumbled more than 7% while the iShares Semiconductor ETF (SOXX) fell almost 2.5%. The drop followed reports that Chief Executive Jensen Huang had a second affair with an executive inside the company, and analysts were openly debating whether he could hold onto his job and who might replace him.
The anxiety spread quickly into crypto plumbing. Perpetual futures tied to Nvidia fell about 12% to $160.99 on the decentralized exchange Hyperliquid, with similar losses on contracts listed at Binance, OKX and Bybit. The same risk-off impulse, amplified by uncertainty across the artificial-intelligence sector, weighed on digital tokens and crypto-linked equities alike.
ETF Withdrawals Add to the Pressure
Institutional flows reinforced the downdraft. Spot Bitcoin ETFs recorded $299.90 million in net outflows on November 11, while Ethereum ETFs lost $144.81 million the same day, according to the reports. Smaller products also bled: SOL ETFs shed $5.85 million, ZEC ETFs $14.61 million, HYPE ETFs $1.69 million and NEAR ETFs $1.36 million. XRP, BNB, TRX, DOGE, LINK, LTC, AVAX, HBAR and DOT ETFs saw no net movement.
Combined Bitcoin and Ethereum product outflows reached $444.71 million, a signal that institutional appetite has weakened.
Note: Prices and moves reflect Thursday morning trading and the prior 24 hours as described in the source material.
Crypto Stocks Take the Brunt
Crypto equities fell in pre-market trading, with corporate treasuries leading the decline. Strategy (MSTR) dropped nearly 6%, Bitmine Immersion Technologies (BMNR) and Strive (ASST) each lost about 5.5%. Strategy faces a separate headwind after MSCI said it would remove the company from its global indexes following the November 30 rebalancing, a decision that could force passive funds tracking those benchmarks to sell their holdings.
Large-cap names were not spared. Coinbase (COIN) fell about 4% and Circle (CRCL), issuer of the USDC stablecoin, slipped about 3.5%. Bitcoin miners, many of which have diversified into renting power and space to AI data centers, were hit from both directions: Cipher Digital (CIFR) fell 5.1%, Mara Holdings (MARA) 4.6%, Hut 8 (HUT) 4.3%, TeraWulf (WULF) 4% and CleanSpark (CLSK) 3.9%.
A Technician Waits for One More Flush
Crypto analyst Michael van de Poppe said in a post on X that Bitcoin has support at its 200-day moving average and a further zone between $70,000 and $71,500, but cautioned that buyers may lack the strength to push through resistance just yet.
"What I'd like to see: A sweep of the lows towards the lower support zones and then a high-volume candle + reclaim back upwards," he wrote, describing that pattern as "a strong trigger for trades."
Macro Backdrop Keeps Bulls on the Defensive
Broader forces are compounding the crypto retreat. October U.S. inflation came in above forecasts, strengthening expectations that the Federal Reserve could tighten further, and officials' comments have left the door open to a rate increase, with a 50-basis-point move next month now seen as a live possibility. Higher rates tend to curb the capital investors allocate to riskier assets.
Attention now turns to the U.S. Producer Price Index due Friday, which could offer fresh clues on the inflation path and the Fed's next steps. For crypto traders, the combination of ETF withdrawals, technology-sector turmoil and a hawkish policy backdrop has left the market searching for a floor.
