Bitcoin slides toward $71K as Nvidia stock tumbles after Huang steps down
Bitcoin fell below $72,000 for the first time since Aug. 20 as selling pressure returned with US stocks, bringing its month-to-date decline to 7.4%. Nvidia shares dropped nearly 13% after CEO Jensen Huang’s resignation; CFO Colette Kress was appointed interim CEO while the company searches for a permanent successor. Bitcoin also slipped below its 21-week moving average near $73,078. Traders were watching Friday’s US Producer Price Index report for clues about inflation and the Federal Reserve’s rate path, after October CPI exceeded expectations. A crypto analyst said a cooler-than-expected PPI could improve market sentiment. Bitcoin’s decline cut through a major bid-liquidity zone, while crypto liquidations over 24 hours reached $730 million.
