- Bitcoin briefly fell to $73,761, its lowest level since August, before rebounding above $75,000.
- More than $1.14 billion in leveraged positions were liquidated in 24 hours, with longs accounting for about 90%.
- Nvidia’s board launched an independent probe after CEO Jensen Huang admitted an affair linked to reports of foreign intelligence targeting.
- US spot Bitcoin ETFs saw $1.28 billion in weekly net outflows, flipping 2026 year-to-date flows negative.
Bitcoin fell sharply late Sunday to $73,761, its lowest level since August, before recovering above $75,000 as traders digested reports of an investigation into Nvidia CEO Jensen Huang and stalled US-Iran negotiations, according to CoinDesk.
The volatility liquidated more than $1.14 billion in leveraged cryptocurrency positions over 24 hours, with long bets comprising roughly 90%, per data from CoinGlass. Ethereum accounted for a larger share of the wipeouts than Bitcoin in the latest flush, with the largest single order a $48.16 million ETH long on Binance.
Nvidia said its board opened an independent investigation after Huang admitted in a memo to employees that he had been unfaithful to his wife, following reports linking him to a Chinese businesswoman US authorities reportedly view as an intelligence asset, according to Reuters. The company stated it has no reason to believe national security or company secrets were compromised, while Huang said he would cooperate fully and remain committed to leading the firm.
Stalled US-Iran talks added to the risk-off mood. The sell-off in crypto mirrored weakness in tokenized Nvidia shares and came after a week of heavy outflows from US spot Bitcoin ETFs. Those funds recorded about $1.28 billion in net withdrawals for the week ended November 6, the worst since late June, pushing year-to-date flows to roughly $914 million in the red, according to analysis of Farside Investors data cited by The Block. BlackRock’s IBIT drove the bulk of the exits, while Fidelity’s FBTC recorded net inflows.
Bitcoin has since stabilized near $74,500–$75,000 as of early Monday, with traders watching traditional market open and upcoming inflation data for further direction. While leverage flushes can clear excess positioning, sustained ETF outflows and geopolitical risks continue to weigh on institutional demand, leaving the market sensitive to further macro headlines.
