Bitcoin retreats as Nvidia turmoil weighs on risk appetite

Detailed summary

Fell as much as 1.6% and was trading around $73 500 as of early morning in New York.

Bitcoin retreated Thursday as renewed unease over technology stocks weighed on risk appetite, with persistent withdrawals from US spot exchange-traded funds adding to the pressure.

The original cryptocurrency fell as much as 1.6% and was trading around $73 500 as of early morning in New York. Other cryptocurrencies also weakened along with US stock futures, which were dragged lower as concerns over leadership turmoil at Nvidia weighed on the artificial intelligence trade.

The chipmaker’s shares slumped as much as 10% in late US trading Wednesday. Nvidia is working with an outside firm to identify potential replacements for Chief Executive Officer Jensen Huang following reports of multiple extramarital affairs, including one with a woman suspected of spying for China, Bloomberg News reported.

Bitcoin’s recovery from its 2026 low below $58 000 in July has recently faltered. It touched a three-month low Wednesday after hotter-than-expected US inflation increased expectations for further interest-rate hikes.

“Bitcoin is showing signs of a changing market structure, with selling pressure concentrated in derivatives while spot market activity remains comparatively resilient,” Dean Chen, an analyst at crypto exchange Bitunix, said in a note Thursday.

Futures cumulative volume delta — a measure that tracks whether buyers or sellers are more aggressive in the futures market over time — has turned deeply negative, while open interest also declined. “Taken together, these indicators suggest that leveraged exposure is cooling, but market positioning remains mixed,” Chen said.

Other headwinds have also been building. Democrats scored a sweeping victory in the US elections last week, handing them control of both chambers of Congress next year. That will put the legislative branch at odds with President Donald Trump’s more crypto-friendly Republican administration. Democrats made Trump’s growing crypto fortune an issue in midterm campaigns.

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