BTC Drops Then Rebounds Near $74K as Nvidia Scandal Sparks $1B Liquidations

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure BTC drops in a sharp two-way volatility over the weekend of November 8–9, 2026, sliding to its lowest level since August before staging a quick rebound. The moves, which wiped out more than $1 billion in leveraged positions, came as markets digested two uncomfortable headlines: an investigation into Nvidia CEO Jensen Huang’s personal relationship with a woman U.S. intelligence agencies suspect of ties to Beijing, and stalled U.S.-Iran diplomatic talks. The world’s largest cryptocurrency fell as low as approximately $73,761 before recovering above $75,000 at points and later hovering near $74,000—just above its 200-day moving average around $73,151. Ether and other major cryptocurrencies followed a similar path of sharp declines followed by partial recoveries. The episode once again highlighted how tightly crypto has become correlated with technology stocks and broader risk sentiment. Nvidia Scandal Adds Pressure to the AI Trade The primary catalyst for the risk-off move was news surrounding Nvidia, the AI chip giant that has become a bellwether for both the technology sector and high...