Bitcoin Breaks Below 100 Million Won as Nvidia Shock Deepens Selloff
Bitcoin fell to $71,400, its lowest in three months, due to Nvidia CEO's resignation, oil price rises, and institutional outflows. As of Nov. 13, it traded at 96.66 million won on Bithumb. U.S. Bitcoin ETFs saw $1.44 billion in outflows over five days. MSCI's decision to remove MicroStrategy from indexes added to pressure.
How this was made
The 30-second read
Why it matters
The confluence of tech‑sector shock and macro headwinds creates a bearish bias for crypto markets.
Market read
The article signals a fresh downside trigger for Bitcoin and related risk assets, offering a short‑term trading angle.
What to watch
Potential policy shifts after US midterms may later revive crypto demand despite short‑term pressure.
Background
Bitcoin’s decline follows Nvidia CEO resignation, rising oil prices, ETF outflows, and MSCI index removal of a major Bitcoin holder.
Ticker impact
Bitcoin fell below 100 million won and its price dropped to $71‑$72k, a new low not previously reported.
likely further decline as risk aversion persists
The article provides the first report of a sub‑100 M won break, linking it to fresh negative catalysts.
Market effects
AI‑related stocks may face pressure as Nvidia leadership change fuels sector uncertainty.
South Korean crypto market shows heightened kimchi premium volatility.
Broad risk‑off sentiment could affect other crypto assets and risk‑on equities worldwide.
Counterpoint
If the sell‑off is over‑reacted, Bitcoin could rebound on technical support around $70k.
Key entities
- companyNvidia
CEO resignation cited as a catalyst for broader risk aversion.
- organizationMSCI
Removing a large Bitcoin holder may trigger passive fund sell‑offs.
