Bitcoin retreats as Nvidia turmoil weighs on risk appetite

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Bitcoin falls as much as 1.4% as other cryptocurrencies also weaken along with US stock futures

By Bloomberg

Updated - November 12, 2026 at 04:35 PM.

Bitcoin’s recovery from its 2026 low below $58,000 in July has recently faltered.

Bitcoin retreated Thursday as renewed unease over technology stocks weighed on risk appetite, with persistent withdrawals from US spot exchange-traded funds adding to the pressure.

The original cryptocurrency fell as much as 1.4 per cent and was trading around $73,500 as of 8:45 am in London. Other cryptocurrencies also weakened along with US stock futures, which were dragged lower as concerns over leadership turmoil at Nvidia Corp weighed on the artificial-intelligence trade. 

The chipmaker’s shares slumped as much as 10 per cent in late US trading Wednesday. The company is working with an outside firm to identify potential replacements for Chief Executive Officer Jensen Huang following reports of multiple extramarital affairs, including one with a woman suspected of spying for China, Bloomberg reported.

Bitcoin’s recovery from its 2026 low below $58,000 in July has recently faltered. It touched a three-month low Wednesday after hotter-than-expected US inflation increased expectations for further interest-rate hikes.

Other headwinds have also been building. MSCI Inc’s decision to drop Strategy Inc, the largest corporate buyer of Bitcoin, from its global equity benchmarks has been another factor affecting the cryptocurrency, according to Caroline Mauron, co-founder of Orbit Markets.

“While that decision was widely expected, it added to the febrile mood around the asset class since the midterms,” she said, referring to elections in the US. “In the short term, there is a lack of support to the downside, with the next key level to watch at $70,000.”

Democrats scored a sweeping victory in the US elections last week, handing them control of both chambers of Congress next year. That will put the legislative branch at odds with President Donald Trump’s more crypto-friendly Republican administration. Democrats made Trump’s growing crypto fortune an issue in midterm campaigns.

Flows into spot Bitcoin ETFs reversed on October 30, four days before the election. Since then, the funds have seen roughly $2.5 billion in net outflows.

More stories like this are available on bloomberg.com

Published on November 12, 2026

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