Bitcoin Price Slides Toward $73K as Nvidia Plunges 9% and MSCI Drops Saylor’s Strategy

In Bitcoin news, the coin fell from $74,811 to $73,480 within two hours of the U.S. close. Bitcoin slipped overnight after two shocks hit U.S. markets after Wednesday's close. Nvidia shares fell about 9% in after-hours trading on a new report about CEO Jensen Huang. Index provider MSCI also confirmed it will remove Strategy, the largest corporate Bitcoin holder, from its global indexes.

It trades at $73,588 on Binance on Thursday morning, down 0.4% in 24 hours and 5.8% in a week.

The funds are not helping. U.S. spot Bitcoin exchange-traded funds (ETFs) lost $299.8 million on Wednesday, their fifth straight day of outflows. Nasdaq futures are down 0.9%.

So what happened, and how much of the selling comes from the ETFs?

Two Shocks After the Close: Nvidia and MSCI

The first hit came from Nvidia, the world's most valuable chipmaker. The New York Times reported on Wednesday evening that Huang had a second relationship with a senior employee who reports to him. The Wall Street Journal reported that Nvidia's board is preparing to remove him as CEO.

Nvidia had closed the day up 2.9% at $173.73. Within two hours, it traded at $157.99, down 9.1%. It is still down 8.6% before Thursday's open. Nvidia has lost about 15% since last Friday. It first fell on Monday, after its board opened a separate probe into reports that Huang was the target of a foreign intelligence effort.