Bitcoin falls below $72K as Nvidia CEO reports and MSCI risk hit crypto

Bitcoin dropped 3.12% in 24 hours to $71,662.48, its weakest level in 12 weeks, and the broader crypto market shrank 3.36% to $2.39 trillion. Roughly $550 billion in value has disappeared since prices topped out in October. Selling was broad: liquidations of long positions hit $380 million in a four-hour stretch, and U.S. spot Bitcoin ETFs logged about $300 million in net outflows on Nov. 11, their fifth straight session of withdrawals.

The loudest shock came from Nvidia, where reports said co-founder Jensen Huang has stepped down as CEO after 33 years and the board named finance chief Colette Kress as interim chief. Nvidia shares fell about 10% in premarket trading before climbing back above $163, recovering roughly half of the day's losses. Because Nvidia carries heavy weight in the S&P 500 and has become a bellwether for the AI trade, the leadership question ripples straight into risk sentiment.

Strategy is carrying a separate threat. MSCI is set to remove Strategy and other crypto treasury companies from its indexes, a move that would force index-tracking funds to dump the affected shares. The company leans on instruments like STRC preferred shares to fund its Bitcoin buying, and STRC is trading below its $100 target price, a discount that makes raising fresh money harder. A funding squeeze could sideline one of Bitcoin's largest corporate buyers.

Friday's Producer Price Index lands next, showing whether U.S. wholesale inflation accelerated in October. Consumer prices already came in hotter than economists expected, so another upside surprise could feed speculation about a bigger Federal Reserve rate hike, pressure that hits crypto by making interest-bearing assets look more attractive. Thursday's jobless claims printed at 200,000, above the 195,000 economists forecast, and the Fed weighs labor weakness alongside inflation.

On the charts, Bitcoin could bounce toward $72,941 if buyers hold the recent swing low of $71,239, while a break beneath it opens the door to $70,000. Crypto Rover flagged the converging risks in a post, warning that Nvidia rumors, MSCI's exclusion move and the PPI print could each trigger a fresh selloff. Investors are also tracking the unresolved U.S. conflict with Iran after President Donald Trump opposed a deal with Tehran.