Bitcoin slips below 72k as Nvidia shake-up and ETF outflows hit risk assets

Bitcoin fell from roughly 73 500 to 71 300 dollars, its lowest level since August, while Ethereum dipped under 2 000 to 1 999.53. Solana lost 3.58 % to 80.84, XRP slid to 1.0174, Dogecoin dropped 5.09 % and NEAR plunged 8.86 %.

The move accelerated after Nvidia announced founder Jensen Huang’s departure as CEO; CFO Colette Kress was named interim head. The stock tumbled about 10 % in pre-market trading, dragging Bitcoin down to 72 400. At the same time, the two-year Treasury yield rose 7.2 basis points to 4.80 % after Cleveland Fed President Beth Hammack called for tighter policy.

Fresh inflation figures reinforced the hawkish tone: October CPI rose 0.4 % month-on-month versus the 0.3 % expected. Fed’s Christopher Waller added that further tightening would be needed to reach the 2 % target.

Spot Bitcoin ETFs saw 299.8 million dollars in net outflows, the fifth straight day, while Ethereum funds lost another 144.8 million. Over 370 million dollars in long positions in BTC and ETH were liquidated, amplifying the sell-off.

Based on information from cryptonews.net