Bitcoin fell to about $71,670 on Thursday morning, its lowest level since mid-August, before recovering to near $71,800. Sentiment was weakened by Nvidia CEO Jensen Huang’s immediate resignation and the stock’s 13% decline at the open, while other technology-related companies also recorded significant losses. Strategy, the largest corporate bitcoin holder, fell about 7% after MSCI confirmed its removal from the MSCI USA Index, which also excludes it from the MSCI World and ACWI indexes effective November 30. Index funds will have to sell MSTR shares, but Strategy is not required to sell its bitcoin. Meanwhile, spot bitcoin ETFs recorded $299.8 million in outflows on Wednesday, bringing the five-day total to about $1.44 billion, as Federal Reserve rate expectations continued to weigh on the market.
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