Bitcoin broke under $72,000 on Thursday, November 12. Coinbase had the low at $71,151, the lowest since August 20. At 2:16pm ET it was around $71,560, down about 3.5% in 24 hours. Three things piled on at once: Nvidia's CEO resigning, Strategy getting dropped from MSCI's big stock indexes, and another day of money leaving the Bitcoin ETFs.
Updated November 12, 2026, 2:20pm ET. Prices from Coinbase and CoinGecko. Live price: our crypto prices page.
The numbers
| Bitcoin, 2:16pm ET | About $71,560 (Coinbase $71,563, CoinGecko $71,567) |
| Day's low | $71,151 on Coinbase, lowest since August 20 |
| Spot Bitcoin ETFs, Wednesday | -$299.8 million, fifth straight day of outflows |
| Five-day ETF outflows | About $1.44 billion |
| Strategy (MSTR) | About -4.4% at 2:16pm ET, after opening around -7% |
Nvidia dragged everything
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This morning Nvidia announced that Jensen Huang resigned as CEO, effective immediately, with CFO Colette Kress taking over for now. Huang had run the company for 33 years (the whole story is in The Nvidia Way). Nvidia's stock hit a new 52-week low before bouncing. Bitcoin has been trading a lot like a tech stock lately, so when the biggest AI name gets hit, crypto tends to go with it. The second leg down in Bitcoin started around 6am New York time, right as the Nvidia news was building, according to Cryptoticker.
It's the same pattern as Tuesday, when the hot inflation report knocked Bitcoin under $73,000 (that story here). Rate fears and tech nerves, one after the other.
Strategy kicked out of MSCI's indexes
Strategy, the company that holds more Bitcoin than any other public company, is being removed from the MSCI USA, MSCI World and MSCI ACWI indexes, effective at the close on November 30. Its stock opened about 7% lower and was down about 4.4% by early afternoon.
Here's the part a lot of people get wrong: index funds that track MSCI have to sell Strategy shares, not Bitcoin. Nothing in this forces Strategy to sell a single coin. It hurts sentiment more than it moves Bitcoin directly. When the poster child for corporate Bitcoin buying gets dropped from major indexes, people get nervous.
ETF money keeps leaving
US spot Bitcoin ETFs lost $299.8 million on Wednesday, according to figures reported by Bitcoin Magazine and Bitbo. That's the fifth day in a row of outflows, and about $1.44 billion over those five days. BlackRock's IBIT was most of Wednesday's number, about $269.7 million, and it's now had nine straight days of outflows.
Leveraged traders got hit again too. CoinGlass data showed roughly $720 million to $750 million in crypto liquidations over 24 hours, mostly people betting on prices going up. We covered how the same thing happened on Monday in Bitcoin's two-month low, back when $73,700 felt low.
This week, step by step
It's been a slow slide, not one crash. Monday Bitcoin hit about $73,700, a two-month low at the time. Tuesday the inflation report pushed it to about $72,643. Today it went to $71,151. Each day a little lower, each time with a new reason. Zoom out further and Bitcoin's all-time high was about $126,300 back in October 2025, so at around $71,500 it's roughly 43% below that peak. People who hold through drops like that usually point to the long-term case, the one The Bitcoin Standard lays out. That's a big drop, but it's also a level Bitcoin already visited in August, which is why "lowest since August" is the headline and not "new low for the year."
If you hold Bitcoin
- The liquidations are borrowed bets getting closed. Coins in your own wallet can't be force-sold, and a hardware wallet keeps them off exchanges entirely.
- Strategy's index exit doesn't make anyone sell Bitcoin.
- Red days bring out "recovery" scams. Nobody legit DMs you first.
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What to watch
- $70,000. It's the next round number traders keep mentioning.
- Whether the ETF outflow streak breaks.
- Nvidia earnings on November 17, since crypto is moving with tech right now.
We don't do predictions. On red days like this, The Psychology of Money is a good one for keeping your head.
FAQ
Why is Bitcoin down today?
Nvidia's CEO resigned, Strategy was dropped from MSCI indexes, and spot Bitcoin ETFs saw a fifth straight day of outflows ($299.8 million on Wednesday).
How low did Bitcoin go?
About $71,151 on Coinbase on November 12, the lowest since August 20.
Does Strategy have to sell Bitcoin?
No. Index funds sell Strategy shares; nothing forces Strategy to sell its Bitcoin.
This is news, not financial advice.
Sources
- Bitcoin Magazine: Bitcoin price falls below $72,000 as Jensen Huang steps down and Strategy slides bitcoinmagazine.com
- Bitbo: Bitcoin sinks under $72K as Jensen Huang quits Nvidia bitbo.io
- Cryptoticker: Bitcoin price below $72,000, why BTC is falling today cryptoticker.io
- NVIDIA 8-K: NVIDIA announces CEO transition sec.gov
- Coinbase and CoinGecko: BTC price and daily data coinbase.com
Written by the WIZY creator
A lifelong gamer and Warhammer painter, and the maker of the WIZY RPG game. I write about games, hardware, Warhammer and crypto in plain English, and I check every fact against its source.
