Bitcoin drops as Nvidia turmoil and MSCI index removal trigger ETF outflows
Bitcoin slipped to roughly $73,500 on November 12 after Nvidia shares tumbled following reports that CEO Jensen Huang may be dismissed. MSCI announced it will remove Strategy Inc., the largest corporate Bitcoin holder, from its global indexes, prompting further pressure. U.S. spot Bitcoin exchange‑traded funds recorded multi‑hundred‑million‑dollar outflows for a fifth straight day.
Why it matters
The outflows, totaling about $300 million on Wednesday, reduce net inflows into Bitcoin ETFs and may dampen demand for the cryptocurrency. MSCI’s removal of Strategy could force index funds to sell its shares, potentially limiting a major source of corporate Bitcoin buying.
Key facts
- 1Bitcoin fell to $73,480 within two hours of the U.S. close. finance.yahoo.com
- 2Bitcoin was trading around $73,500 at 8:45 a.m. London time. unn.ua
- 3Nvidia shares dropped about 9% in after‑hours trading after the report on CEO Jensen Huang. finance.yahoo.com
- 4Nvidia shares fell 10% at the end of the U.S. trading session on November 11. unn.ua
- 5U.S. spot Bitcoin ETFs lost $299.8 million on Wednesday, marking a fifth straight day of outflows. finance.yahoo.com
- 6Spot Bitcoin ETFs have recorded net outflows of approximately $2.5 billion since October 30. unn.ua
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.