In Bitcoin news, the coin fell from $74,811 to $73,480 within two hours of the U.S. close. Bitcoin slipped overnight after two shocks hit U.S. markets after Wednesday's close. Nvidia shares fell about 9% in after-hours trading on a new report about CEO Jensen Huang. Index provider MSCI also confirmed it will remove Strategy, the largest corporate Bitcoin holder, from its global indexes.

It trades at $73,588 on Binance on Thursday morning, down 0.4% in 24 hours and 5.8% in a week.

The funds are not helping. U.S. spot Bitcoin exchange-traded funds (ETFs) lost $299.8 million on Wednesday, their fifth straight day of outflows. Nasdaq futures are down 0.9%.

So what happened, and how much of the selling comes from the ETFs?

Two Shocks After the Close: Nvidia and MSCI

The first hit came from Nvidia, the world's most valuable chipmaker. The New York Times reported on Wednesday evening that Huang had a second relationship with a senior employee who reports to him. The Wall Street Journal reported that Nvidia's board is preparing to remove him as CEO.

Nvidia had closed the day up 2.9% at $173.73. Within two hours, it traded at $157.99, down 9.1%. It is still down 8.6% before Thursday's open. Nvidia has lost about 15% since last Friday. It first fell on Monday, after its board opened a separate probe into reports that Huang was the target of a foreign intelligence effort.

Bitcoin has traded closely with tech stocks this year, and it fell with them. Nasdaq 100 futures dropped 1.1% in the same two hours.

The second hit is closer to crypto. MSCI, whose indexes guide trillions of dollars in index funds, will delete Strategy from its global indexes after the market close on November 30. It ruled that Strategy looks more like an investment fund holding Bitcoin than an operating business. Japan's Metaplanet and Upexi are also being removed.

Funds that track those indexes will have to sell their Strategy shares. JPMorgan earlier estimated that selling at about $2.8 billion. Strategy says the funds hold about 13 million shares, 3.1% of its stock. Its shares are down 1.8% before the open.

For Bitcoin news, that matters beyond one stock. Strategy is the steadiest corporate buyer of Bitcoin. Fewer index buyers for its shares could make it harder and more costly to raise money for new purchases.

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Bitcoin News From the ETFs: Seven Red Days Out of Eight

The ETF selling started before either shock. To see how big the ETF side of this Bitcoin news is, we added up the daily net flows of the U.S. spot Bitcoin ETFs for every trading day in November.

  • Red days: seven of the eight trading days so far. Only November 4 saw net money come in, $74.6 million.

  • Total: $1.88 billion has left the funds this month. The last five days alone account for $1.44 billion.

  • Who is selling: BlackRock's iShares Bitcoin Trust (IBIT), the largest fund, lost $1.77 billion. That is 94% of the total. On Wednesday it lost $269.7 million of the $299.8 million.

Red days: seven of the eight trading days so far. Only November 4 saw net money come in, $74.6 million.

Total: $1.88 billion has left the funds this month. The last five days alone account for $1.44 billion.

Who is selling: BlackRock's iShares Bitcoin Trust (IBIT), the largest fund, lost $1.77 billion. That is 94% of the total. On Wednesday it lost $269.7 million of the $299.8 million.

The streak is not a record yet. The longest run of outflows this year lasted 13 trading days in May and June, just before Bitcoin fell below $60,000.

The Fed adds to the pressure. October's hot inflation report on Tuesday pushed the odds of a December rate hike on Polymarket to about 97%. Higher rates make cash and bonds pay more, which tends to pull money out of funds like these.

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Bitcoin Price Analysis: Can BTC Hold $72,727?

BTC trades at $73,588, holding above Tuesday's low of $72,727, its lowest price since August 20. On the daily chart, where each candle covers one day, it sits below both of its exponential moving averages (EMAs), averages that give recent prices more weight. The 50-day EMA stands at $78,696 and the 200-day EMA at $76,422.

  • Resistance: $74,811, Wednesday's high, then $76,422, the 200-day EMA. Above that, $78,696, the 50-day EMA.

  • Support: $73,390, Wednesday's low, then $72,727, Tuesday's low. Below that, $68,902, the August 20 low.

Resistance: $74,811, Wednesday's high, then $76,422, the 200-day EMA. Above that, $78,696, the 50-day EMA.

Support: $73,390, Wednesday's low, then $72,727, Tuesday's low. Below that, $68,902, the August 20 low.

BTCUSDT 1D chart. Source: TradingView.

Outlook

Trigger

Level to watch

Rebound

A daily close above $74,811 and ETF inflows return

The 200-day EMA at $76,422

Holding pattern

BTC stays between $72,727 and $74,811

A range until the Nvidia and ETF selling fades

Sell-off

A daily close below $72,727

$68,902, the August 20 low

The next Bitcoin news to watch is Thursday's ETF flow data and how Nvidia trades at the open. A sixth day of outflows and a weak tech session would put $72,727 to the test.

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Read original story Bitcoin Price Slides Toward $73K as Nvidia Plunges 9% and MSCI Drops Saylor's Strategy by Daniel Francis at Coinspeaker.com