- Bitcoin has fallen below $70,000, reaching around $68,900, its lowest level since August 19, 2026.
- The sudden resignation of Nvidia CEO Jensen Huang and concerns over MSCI’s decision to remove Strategy from its indexes have added to market uncertainty.
- More than $1.3 billion worth of crypto positions were liquidated in 24 hours, putting further pressure on digital assets.
Bitcoin Below $70k
Bitcoin has fallen further below the key $70k level, currently trading at around $68,900. This represents a decline of approximately 6% over the last 24 hours at the time of this bulletin. This is the lowest price seen since August 19th, 2026. This comes after Bitcoin fell to around $71k on Thursday.
Other major cryptocurrencies have fallen as well, Ethereum has fallen below $2k, Solana is now trading below $80 and XRP has fallen closer to $1.
It’s a mistake for Nvidia to let Jensen resign.
— CZ 🔶 BNB (@cz_binance) November 12, 2026
Over the last 24 hours over $1.3 billion has been lost from crypto futures. Bitcoin has lost around $677 million. Those who were long in the market have suffered huge losses, according to CoinGlass.
Jensen Huang Resigns
Jensen Huang, CEO of Nvidia has resigned from his position as President, CEO and Board Member on November 12th. This comes after concerns arose regarding his personal life and potential national security links.
Nvidia have appointed Colette Kress as acting CEO. She will continue with her role as CFO but the board will look to find a permanent CEO. The news shocked the tech sector. Nvidia has experienced heavy selling pressure and the price has fallen significantly throughout Thursday.
Donald Trump, the President of the USA has suggested Tim Cook, former CEO of Apple could be a potential replacement. There is no news of a permanent CEO however.
Whilst Bitcoin is not directly connected to Nvidia, large tech names can have an impact on confidence. With increased uncertainty investors will often try to reduce exposure to higher risk assets such as cryptos.
Strong Dollar & MSCI
There are various other reasons behind the fall in Bitcoin. The dollar is getting stronger against major currencies, investors have become more cautious and there has been expectations of an increase in interest rates by the US Federal Reserve.
Increased tensions in the Middle East have caused further concerns. Investors are watching closely. When there is increased uncertainty within global markets, investors tend to move to safer assets.
Chairman @RepMoolenaar released the following statement in the wake of Jensen Huang’s resignation from @NVIDIA: https://t.co/sCJIYnE7Wo
— Select Committee on China (@ChinaSelect) November 12, 2026
Finally, MSCI have announced they will remove Strategy from their indexes from November 30th. Strategy is one of the largest corporate holders of Bitcoin in the world. This could cause issues with investment funds tracking the indexes. It is unclear how much of an impact this will have on the price.
In the short-term Bitcoin will need good support from buyers. Investors will be watching closely to see what institutional buying and ETF flows look like. If there is good support from buyers it could help the price to recover some of its losses. However if there is continued selling pressure it could continue to be under pressure in the coming days.
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