Key Takeaways
- • Bitcoin slipped 0.7% to around $73,400 on Nov. 12, 2026, as a selloff in tech stocks spread, with Nvidia shares down about 7% in pre-market trading after reports about CEO Jensen Huang.
- • U.S. spot bitcoin ETFs lost $299.9 million on Wednesday, a fifth straight day of outflows totaling about $1.44 billion since Nov. 5, according to SoSoValue; BlackRock's IBIT accounted for $269.7 million of that and its ninth straight session of redemptions.
- • The New York Times reported that Huang had a relationship with a company executive, and the Wall Street Journal reported the Nvidia board is preparing to remove him; Nvidia has not announced a decision.
- • Crypto derivatives activity cooled, with futures volume down 20.64% to $168.6 billion and open interest down 2.92% to $125.8 billion over 24 hours, while bitcoin options retained a put skew of about 11% at one week.
- • CoinMarketCap's altcoin season index stood at 39 and the fear and greed index at 26, signaling fear across the market.
Summary
Bitcoin fell 0.7% to around $73,400 on Nov. 12, 2026, hovering near its daily low as a selloff in technology stocks spread through markets. Ether was down 0.5% at around $2,044, and the CoinDesk 80 Index fell 1%. Over 24 hours, bitcoin had lost 0.8% and ether 0.7%.
Nvidia was the primary driver of the move. Its shares were down roughly 7% in pre-market trading after the New York Times reported that CEO Jensen Huang had a relationship with a company executive, and the Wall Street Journal reported that the board was preparing to remove him. Nvidia had not announced a decision. Nasdaq-100 futures were down 0.6%, giving back part of Wednesday's CoreWeave-led rally.
Spot bitcoin ETF flows remained negative. According to SoSoValue, U.S. spot bitcoin ETFs lost $299.9 million on Wednesday, a fifth straight day of outflows totaling around $1.44 billion since Nov. 5. BlackRock's IBIT accounted for $269.7 million of the Wednesday outflow, its ninth consecutive session of redemptions.
Derivatives data pointed to cooling activity. Across crypto futures, volume fell 20.64% to $168.6 billion and open interest fell 2.92% to $125.8 billion over 24 hours. Liquidations dropped 63.67% to $263.7 million, with longs making up 64.5% of the total. Bitcoin futures open interest declined 2.9% against a 0.6% price drop, and bitcoin logged the largest liquidations of any coin at $62.9 million. Cumulative volume delta was negative for most major coins, including bitcoin, indicating a bias toward market-order selling. Bitcoin options retained a put skew of about 11% at one week, while one-week implied volatility eased to about 35% from 38% on Tuesday.
Altcoin markets were mixed. Gram (GRAM), formerly toncoin, rose 5.2% and remained atop the CoinDesk 100 for a second day as Telegram's wallet push drew attention; founder Pavel Durov said more than 700,000 wallets were created within 48 hours. Zcash rose 2.4%, with holders voting Nov. 16 to 30 on a draft proposal to remove 50,000 ZEC, around $50 million, from the Zcash Community Grants treasury. DeFi was the weakest segment, with the CoinDesk DeFi Select Index down 1.6%. Sentiment indicators remained cautious, with CoinMarketCap's altcoin season index at 39 out of 100, well below the 75 threshold, and the fear and greed index at 26.
Traders were also watching U.S. initial jobless claims due at 13:30 UTC and any decision from Nvidia's board. The Federal Reserve meets Dec. 8-9, and CME FedWatch was pricing around a 90% chance of a rate hike, according to the article.
Nvidia was the primary driver of the move. Its shares were down roughly 7% in pre-market trading after the New York Times reported that CEO Jensen Huang had a relationship with a company executive, and the Wall Street Journal reported that the board was preparing to remove him. Nvidia had not announced a decision. Nasdaq-100 futures were down 0.6%, giving back part of Wednesday's CoreWeave-led rally.
Spot bitcoin ETF flows remained negative. According to SoSoValue, U.S. spot bitcoin ETFs lost $299.9 million on Wednesday, a fifth straight day of outflows totaling around $1.44 billion since Nov. 5. BlackRock's IBIT accounted for $269.7 million of the Wednesday outflow, its ninth consecutive session of redemptions.
Derivatives data pointed to cooling activity. Across crypto futures, volume fell 20.64% to $168.6 billion and open interest fell 2.92% to $125.8 billion over 24 hours. Liquidations dropped 63.67% to $263.7 million, with longs making up 64.5% of the total. Bitcoin futures open interest declined 2.9% against a 0.6% price drop, and bitcoin logged the largest liquidations of any coin at $62.9 million. Cumulative volume delta was negative for most major coins, including bitcoin, indicating a bias toward market-order selling. Bitcoin options retained a put skew of about 11% at one week, while one-week implied volatility eased to about 35% from 38% on Tuesday.
Altcoin markets were mixed. Gram (GRAM), formerly toncoin, rose 5.2% and remained atop the CoinDesk 100 for a second day as Telegram's wallet push drew attention; founder Pavel Durov said more than 700,000 wallets were created within 48 hours. Zcash rose 2.4%, with holders voting Nov. 16 to 30 on a draft proposal to remove 50,000 ZEC, around $50 million, from the Zcash Community Grants treasury. DeFi was the weakest segment, with the CoinDesk DeFi Select Index down 1.6%. Sentiment indicators remained cautious, with CoinMarketCap's altcoin season index at 39 out of 100, well below the 75 threshold, and the fear and greed index at 26.
Traders were also watching U.S. initial jobless claims due at 13:30 UTC and any decision from Nvidia's board. The Federal Reserve meets Dec. 8-9, and CME FedWatch was pricing around a 90% chance of a rate hike, according to the article.
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