Bitcoin Dumps Below $73,000 as NVDA Plunges 8% on Huang Ouster Report

Bitcoin (CRYPTO: BTC) trades below $73,000 after Nvidia (NASDAQ:NVDA) shares fell 8% on reports its board is preparing to remove CEO Jensen Huang.

Nvidia Board Set to Vote on Huang’s Future This Week

The WSJ reported Wednesday that Nvidia’s board plans to meet as soon as this week to determine Huang’s future, following a company investigation into two extramarital affairs, one involving a Megaspeed executive U.S. intelligence officials believe may be a Chinese intelligence asset. 

Huang acknowledged the affairs in a letter to staff over the weekend, apologizing for violating his family’s and employees’ trust, though he has said he didn’t know the woman was a suspected spy. 

Nvidia’s board had not announced a final leadership decision as of Thursday morning, after issuing a statement November 8 expressing confidence in Huang while confirming an independent investigation.

Bitcoin has moved closely with AI and chip stocks for much of this year, since both pull from the same pool of risk-tolerant money. So when the sector’s biggest name drops this hard, crypto usually feels it too.

Cowen’s Monday-Through-Wednesday Pattern Gets Its Next Test

Analyst Benjamin Cowen described a recurring pattern he’s tracked in Bitcoin and stocks: markets dump into Thursday and Friday, bears call for "Black Monday," and prices then rally Monday through Wednesday before the cycle repeats. 

"Perhaps the time to pivot is after this pattern breaks?" Cowen wrote last week. 

His post doesn’t predict this weekend specifically, or link Huang’s situation to Bitcoin.

But after an 8% selloff like this, a Monday-through-Wednesday bounce would confirm the pattern holding.

No bounce, and that’s the signal he says to watch for.

Bitcoin ETFs Post a Fifth Straight Losing Session

U.S. spot Bitcoin ETFs saw $299.8 million in net outflows Wednesday, per SoSoValue, extending a five-day losing streak that’s pulled roughly $1.44 billion out of the funds combined.

BlackRock’s IBIT (NASDAQ:IBIT) lost $269.7 million and Grayscale’s GBTC (NYSE:GBTC) shed $39.1 million, while Morgan Stanley’s MSBT (CBOE: MSBT) brought in $9 million, only partially offsetting the rest.

These withdrawals started before the Huang reports broke, but a negative resolution to Nvidia’s leadership situation could easily accelerate the outflow trend further.

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