Bitcoin Slips Near $73,400 as Nvidia Drama and ETF Outflows Pile On

Bitcoin traded around $73,400 on Thursday, down roughly 0.7% from midnight UTC and hovering near its session low. Ethereum didn't escape the mood either, slipping about 0.5% to around $2,044. The trigger came from tech: Nvidia shares dropped approximately 7% in pre-market trading, and Nasdaq-100 futures gave back about 0.6% of Wednesday's gains.

The Nvidia selloff followed a pair of reports about CEO Jensen Huang. The New York Times reported on an alleged relationship involving Huang and a company executive, while The Wall Street Journal said the board was preparing to remove him. According to bitcoinist, Nvidia had announced no decision on Huang at the time of publication. The AI trade felt it broadly — the decentralized GPU network Render fell about 3.1%.

Fund flows aren't helping. US spot Bitcoin ETFs logged roughly $299.9 million in net outflows on Wednesday, according to SoSoValue, stretching the withdrawal streak to five straight sessions. Cumulative outflows since November 5 now sit at about $1.44 billion — and BlackRock's iShares Bitcoin Trust (IBIT) carried $269.7 million of Wednesday's redemptions, its ninth consecutive session of net redemptions.

Next up is the Federal Reserve, which meets December 8-9. CME FedWatch data showed markets pricing roughly a 90% probability of an interest rate increase. Traders were also waiting on fresh initial jobless claims figures, with any Nvidia board decision flagged as another potential volatility spark. Wednesday's bright spot — stronger-than-expected earnings from AI cloud-computing firm CoreWeave — has already been partly erased.