In recent Bitcoin developments, the cryptocurrency experienced a decline from $74,811 to $73,480 within just two hours of market close in the U.S. This drop followed two significant shocks to U.S. markets after the trading session on Wednesday. Notably, Nvidia shares fell approximately 9% in after-hours trading amid new controversy surrounding CEO Jensen Huang. Additionally, MSCI announced it would exclude Strategy, the largest corporate holder of Bitcoin, from its global index.
At its latest trading update on Binance, Bitcoin was priced at $73,588, reflecting a slight decrease of 0.4% within 24 hours and a weekly drop of 5.8%.
The ongoing turmoil in the crypto market is highlighted by the significant outflows from Bitcoin-focused exchange-traded funds (ETFs). On Wednesday, a U.S. spot Bitcoin ETF reported a staggering loss of nearly $300 million, marking the fifth consecutive day of outflows. Concurrently, Nasdaq futures experienced a decline of 0.9%.
Bitcoin ETF is down $300 million, Ether Fund is down $145 million
According to SoSoValue, US Spot Bitcoin ETFs recorded net outflows of $300 million on November 11, while Morgan Stanley’s MSBT led retail inflows with $8.96 million. Spot Ethereum ETF hits $145 million… pic.twitter.com/5sn88B2JQX
— Wu Blockchain (@WuBlockchain) November 12, 2026
Impact of Nvidia and MSCI Announcements
The downturn can be attributed primarily to two key developments. The first involved Nvidia, the leading chipmaker globally, which faced scrutiny following reports of CEO Huang’s alleged personal misconduct. Initially, Nvidia’s shares rose 2.9% to $173.73 but subsequently plunged by over 9% to about $157.99 after the news broke of a potential board decision to dismiss Huang. As of Thursday morning, Nvidia shares remained down approximately 8.6% from their previous close, amid ongoing investigations surrounding Huang.
This particular incident has had a considerable impact on Bitcoin’s price movement this year, given the correlation between Bitcoin and technology stocks. During that same two-hour timeframe, Nasdaq 100 futures dropped by 1.1%.
The second shock came from MSCI’s decision to remove Strategy from its indices after the market closes on November 30. This decision stems from a reassessment that classified Strategy more as a Bitcoin investment fund rather than a traditional business. The removal will compel funds tracking MSCI indices to liquidate their shares in Strategy, which JPMorgan estimates could lead to approximately $2.8 billion in stock sales. Strategy reportedly holds around 13 million shares, equating to 3.1% of the company’s total stock.
This removal from the index may deter additional investment in Strategy, which is a significant corporate Bitcoin buyer, potentially limiting future funding for Bitcoin purchases.
Trends in Bitcoin ETFs: A Series of Losses
ETF-related selling occurred prior to the recent announcements. Analysis of daily net flows for U.S. Spot Bitcoin ETFs in November reveals a troubling trend: 7 out of the last 8 trading days have ended in losses for these funds. Only on November 4 did the fund register a net inflow of $74.6 million. The cumulative outflow for November now totals $1.88 billion, with $1.44 billion withdrawn in just the past five days. BlackRock’s iShares Bitcoin Trust (IBIT) has been disproportionately affected, accounting for $1.77 billion, or 94% of these outflows.
Although the recent outflow trend does not set a new record—it was preceded by 13 trading days of outflows in May and June preceding Bitcoin’s fall below $60,000—the current circumstances are alarming for investors.
Moreover, with predictions of an imminent rate hike by the Federal Reserve—now estimated at a 97% probability due to recent inflation data—investors may be drawn to cash or bonds instead of crypto assets, further exacerbating the trend of outflows from ETFs.
Analyzing Bitcoin’s Price Movement: Resilience Under Pressure
Currently, Bitcoin is trading at $73,588, slightly above a recent low of $72,727—the lowest level observed since August 20. The price remains below the exponential moving average (EMA), with the 50-day EMA at $78,696 and the 200-day EMA at $76,422, indicating significant resistance levels ahead.
Resistance Levels:
- $74,811 – Wednesday’s high
- $76,422 – 200-day EMA
- $78,696 – 50-day EMA
Support Levels:
- $73,390 – Wednesday’s low
- $72,727 – Tuesday’s low
- $68,902 – August 20 low
The upcoming days will be crucial for Bitcoin as market participants closely watch ETF inflow data and Nvidia’s stock performance. A decline below $72,727 may signal broader weakness in the market, while a recovery above $74,811 would provide a more optimistic outlook.
Disclaimer: Coinspeaker strives to provide accurate and timely information. This article is intended for informational purposes only and should not be construed as financial advice. Market conditions can fluctuate rapidly, and we recommend verifying all information and consulting a financial professional before making investment decisions.
Daniel Frances is a technical writer and educator in the Web3 space, focusing on macroeconomic factors and DeFi systems. With experience dating back to 2017, Daniel employs a background in on-chain analytics to produce evidence-based reports and guides, holding certifications from The Blockchain Council. His work emphasizes transparent and informative insights into blockchain utility in real-world applications.
