Bitcoin Breaks Below 100 Million Won as Nvidia Shock Deepens Selloff

Bitcoin fell into the $71,000 range, hitting its lowest level in nearly three months. The resignation of Nvidia CEO Jensen Huang heightened uncertainty surrounding the artificial intelligence (AI) sector, while a sharp rise in international oil prices and continued institutional outflows added to the pressure, further dampening investor appetite for risk assets.

As of 8:10 a.m. on Nov. 13, Bitcoin was trading at 96.66 million won, or approximately $72,329, on domestic cryptocurrency exchange Bithumb, down 0.40% from 24 hours earlier and breaking below the 100 million won threshold. The decline was also pronounced in global markets. According to CoinMarketCap, Bitcoin was trading at around $71,400, down approximately 4% over the previous 24 hours and marking its lowest level since Aug. 20.

Nvidia’s leadership shake-up is seen as one factor behind the sharp decline. Former CEO Jensen Huang resigned following a series of reports alleging inappropriate relationships, and the company’s board appointed Chief Financial Officer Colette Kress as interim CEO. Huang also stepped down from the board of directors. The departure of a central figure who had driven enthusiasm for AI investment unsettled sentiment toward technology stocks, sending major U.S. stock indexes lower and spreading risk aversion to the cryptocurrency market. A sharp rise in international oil prices also contributed to the selloff on Wall Street.