Bitcoin falls alongside Nvidia on Thursday as renewed selling in technology stocks weighed on risk assets, while persistent withdrawals from US spot Bitcoin exchange-traded funds added further pressure to the market.
BTC slipped approximately 0.7% from midnight UTC, trading around $73,400 and hovering close to its daily low. Ethereum also weakened, falling around 0.5% to approximately $2,044.
The latest move followed a sharp drop in Nvidia shares during pre-market trading. The combination of technology-sector weakness and continued institutional withdrawals has left Bitcoin struggling to regain momentum, despite a partial recovery in equities earlier in the week.
Nvidia Sell-Off Spills Over Into Crypto Markets
Nvidia became a major focus for investors after reports raised questions about the company’s leadership. The New York Times reported on an alleged relationship involving CEO Jensen Huang and a company executive, while The Wall Street Journal reported that the board was preparing to remove him.
Nvidia shares fell approximately 7% in pre-market trading following the reports. The company had not announced any decision regarding Huang at the time of publication.
The uncertainty also affected broader technology markets. Nasdaq-100 futures declined around 0.6%, giving back part of the gains recorded on Wednesday after AI cloud-computing company CoreWeave delivered stronger-than-expected earnings.
Bitcoin’s reaction highlights the close relationship that can develop between cryptocurrencies and high-growth technology stocks during periods of heightened risk aversion. When investors reduce exposure to technology and AI-related companies, digital assets can face similar selling pressure. The decentralized GPU network Render also moved lower, declining approximately 3.1% as Nvidia’s weakness weighed on sentiment across the AI-related investment theme.
Bitcoin ETF Outflows Extend to Fifth Consecutive Day
Institutional fund flows are providing another challenge for Bitcoin. US spot Bitcoin ETFs recorded approximately $299.9 million in net outflows on Wednesday, according to SoSoValue, extending their withdrawal streak to five consecutive sessions.
Cumulative outflows since November 5 have now reached approximately $1.44 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $269.7 million of Wednesday’s withdrawals. The fund has now recorded nine consecutive sessions of net redemptions, indicating that selling pressure is not limited to smaller investment products.
Continued ETF withdrawals are important because these funds have become a significant channel for institutional exposure to Bitcoin. Persistent redemptions can weaken demand for the asset and make it more difficult for buyers to absorb selling pressure.
Fed Expectations and Economic Data Keep Traders Cautious
Beyond Nvidia and ETF flows, investors are also monitoring the outlook for US monetary policy.
The Federal Reserve is scheduled to meet on December 8–9, with CME FedWatch data indicating that markets were pricing in approximately a 90% probability of an interest rate increase. Higher borrowing costs can weigh on assets such as Bitcoin by tightening financial conditions and reducing the appeal of investments that do not generate traditional interest income.
Traders were also awaiting the latest initial jobless claims figures, while Nvidia’s board decisions remained another potential source of market volatility.
Bitcoin Faces Renewed Pressure Near $73,000
Bitcoin’s move toward $73,400 leaves the cryptocurrency struggling to establish a convincing recovery after its recent decline. The market is facing pressure from several directions, including technology-sector uncertainty, persistent ETF withdrawals, and expectations of tighter monetary policy.
The $73,000 area is an important near-term level to monitor as BTC trades close to its daily low. A sustained move lower could reinforce bearish sentiment, particularly if institutional outflows continue.
On the other hand, a recovery in technology stocks and a slowdown in ETF redemptions could help stabilize demand. For now, however, neither development has provided a clear signal that selling pressure is fading.
Will Bitcoin manage to defend the $73,000 area as Nvidia shares remain under pressure? And could another week of ETF outflows push BTC toward lower support levels?
