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Bitcoin Retreats as Nvidia Turmoil Weighs on Risk Appetite
Bitcoin retreated Thursday as renewed unease over technology stocks weighed on risk appetite, with persistent withdrawals from US spot exchange-traded funds adding to the pressure.
The original cryptocurrency fell as much as 4.2% and was changing hands at around $71,400 in New York trading. Other cryptocurrencies also weakened along with US stock, which were dragged lower as concerns over leadership turmoil at Nvidia Corp. weighed on the artificial intelligence trade.
Nvidia Chief Executive Officer Jensen Huang, the preeminent face of the AI infrastructure boom, was ousted from his post after reports of two affairs, including with one woman who is suspected of spying for China.
Bitcoin’s recovery from its 2026 low below $58,000 in July has recently faltered. It touched a nearly three-month low Wednesday after hotter-than-expected US inflation increased expectations for further interest-rate hikes.
Strategy Slumps After MSCI Drops Stock From Benchmark Index
Strategy fell after MSCI Inc. dropped the Bitcoin accumulator from its global equity benchmarks, potentially triggering billions of dollars in stock sales and adding fresh pressure to the financing model behind Michael Saylor’s vast cryptocurrency holdings.
Strategy is among the firms that the major index provider is removing from its MSCI USA Index after it adopted new eligibility rules, according to the Msci Inc-A: MSCI Equity Indexes November 2026 Index Review of the November 2026 Index Review for the MSCI Equity Indexes released late Wednesday. Last month, MSCI said it would exclude companies classified as non-operating businesses under a new framework that takes effect at the close of Nov. 30.
US Details $2.7 Billion Freeze After North Korea’s Binance Hack
The Justice Department says it’s joined with the two biggest stablecoin issuers in efforts to secure almost half the money stolen when hackers absconded with more than $6 billion from the Binance crypto exchange.
The department got court authorization to seize or restrain $1.2 billion of the $2.7 billion of funds frozen by Tether and Circle Internet Group Inc. in the immediate aftermath of the Oct. 29 break-in. Investigators are continuing to pursue the rest as the hackers, whom the FBI calls TraderTraitor, try to launder the cryptocurrency through bridges, mixers and exchanges.
Winklevosses’ Gemini Exchange Posts Narrower-Than-Expected Loss
Gemini Space Station, Inc., the digital-asset platform led by the billionaire brothers Tyler and Cameron Winklevoss that went public last year just before the crypto market tumbled from record highs, posted a loss for a fifth consecutive quarter since the IPO.
The third-quarter loss was $58.6 million, or 46 cents a share, lower than the 67-cent Gemini Space Station to Report Results: Preview by analysts surveyed by Bloomberg. Gemini lost $159.5 million in the year-ago period. Revenue fell 19% to a less-than-anticipated $40.9 million.
Bitcoin & Ethereum Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Thursday was $47.61 million. The total net asset value of Bitcoin spot ETFs is $92.72 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 1.46%.
The Bitcoin spot ETF with the highest net outflow on November 12 was Bitwise Bitcoin ETF (BITB), with a net outflow of $26.35 million, according to SoSoValue.
Source: SoSoValue
The overall net outflow of the US Ethereum spot ETF on Thursday was $8.06 million. The total net asset value of Ethereum spot ETFs is $11.53 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 1.47%.
The Ethereum spot ETF with the highest net outflow on November 12 was Grayscale Ethereum Mini Trust (ETH), with a net outflow of $6.72 million, according to SoSoValue.
Source: SoSoValue
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