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Crypto Macro

Bitcoin Falls to $68,307, Three-Month Low, as Nvidia CEO Exit Sparks AI-Led Selloff

Bitcoin fell below $70,000 on Nov. 13, hitting $68,307, a 7% drop in 24 hours and its lowest since Aug. 19, after Nvidia announced Jensen Huang had resigned as president, CEO and board member effective immediately. NVDA opened down 14%, and crypto liquidations topped $1.46 billion in 24 hours, $1.3 billion of them longs. Spot bitcoin ETFs bled $299.9 million on Nov. 11, a fifth straight day of outflows.

Original source

AI take

The trigger here is a personnel shock at an AI bellwether, not a crypto-specific event, which underlines how tightly digital-asset risk appetite has become tethered to the AI trade. The liquidation skew — longs overwhelmingly — shows leveraged positioning was leaning the wrong way into the headline, and the ETF outflow streak suggests institutional demand was already softening before it hit. Whether bitcoin's drawdown stays contained depends largely on whether the Nvidia disruption proves a one-day repricing or the start of a broader de-risking in AI-linked equities.

Generated by AI for reference only.

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