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Bitcoin dropped to about $73,761 late Sunday, its lowest level since August, then recovered above $75,000. The swings coincided with reports about an investigation involving Nvidia CEO Jensen Huang and stalled U.S.-Iran talks; more than $1 billion in leveraged crypto positions were liquidated in 24 hours, according to CoinGlass.
Bitcoin fell to about $73,761 late Sunday, its lowest level since August, before rebounding above $75,000 as traders reacted to reports concerning Nvidia CEO Jensen Huang and stalled U.S.-Iran talks. The sharp moves triggered more than $1 billion in liquidations of leveraged crypto positions over 24 hours, according to CoinGlass, underscoring how quickly weekend news can affect a market that trades around the clock.
Bitcoin’s recovery followed a steep decline during Sunday trading. CoinDesk data showed the token moving back above $75,000 after reaching its session low. Ether, the second-largest cryptocurrency by market value, also recovered after falling below $2,100; it was reported at $2,144 in the source report. Those prices describe the market at the time of reporting and may have since changed.
CoinGlass data showed $913 million in liquidations were long positions, or trades premised on prices rising, out of more than $1 billion in total forced closures over 24 hours. Ether accounted for $448 million in liquidations, compared with $272 million for bitcoin. The largest reported single liquidation was an ether position valued at $48 million. Liquidations happen when leveraged traders cannot meet the margin requirements on their positions.
The market was also digesting two separate developments. Nvidia’s board said it had opened an independent investigation following reports about a relationship involving Huang and Alice Huang, a business executive whom U.S. intelligence agencies reportedly believe was passing information to Beijing. Secretary of State Marco Rubio said talks with Iran had stalled. The timing coincided with the crypto sell-off, but the available report does not establish how much each headline contributed to the price moves.
Weekend Headlines Hit Leveraged Crypto
Crypto trades continuously, unlike major U.S. stock markets, leaving digital assets to react first when significant news breaks over a weekend. The price swings show that traders can reposition quickly before investors can see how traditional markets respond. The report said traders were watching Monday’s market open for signs of how investors would assess the Nvidia news and geopolitical uncertainty.
The liquidations highlight a separate risk: leverage can magnify losses when prices move against a position. The fact that most reported liquidations were long trades indicates that traders betting on rising prices bore much of the forced selling in this episode. It does not, by itself, show that all crypto investors were bearish or establish the direction of prices after the rebound. Crypto assets are volatile, and investors can lose some or all of the money they put at risk.
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Nvidia Inquiry and Iran Talks
Nvidia is a major supplier of artificial-intelligence chips and has a prominent role in the U.S.-China technology competition. The company’s board said it had launched an independent review with outside counsel after reports involving Huang and Alice Huang. Nvidia said it had no reason to believe national security or company secrets had been compromised, while saying the inquiry would examine available information. Jensen Huang acknowledged being unfaithful to his wife in a message to employees and apologized for the harm caused, according to the report. The allegations about the other person’s actions remain claims, not established findings in the material provided.
Washington restricts exports of Nvidia’s most advanced AI chips to China. The report also described allegations that Megaspeed, a company linked to Alice Huang, helped restricted Chinese firms obtain Nvidia chips. Separately, Rubio characterized Iranian demands as “outrageous” and said negotiations had not made progress. The CoinDesk report said tensions in the region can affect oil prices and risk appetite, but it did not provide a new oil-price figure alongside Sunday’s crypto moves.
There had also been broader concerns about technology shares: the report said the Nasdaq fell nearly 5% the prior week, extending a four-week losing streak. That market backdrop is relevant to how investors might respond to Nvidia-related developments, but it does not establish that the equity decline caused bitcoin’s movement.
“The company said it had “no reason to believe national security or company secrets had been compromised.””
— Nvidia
Investigation and Market Reaction Unresolved
The report does not establish whether the allegations concerning Alice Huang are true, whether any information was passed to Beijing, or what Nvidia’s investigation will find. Nvidia said it had no reason to believe company secrets or national security had been compromised, but the review was still underway. The source material also does not confirm how Monday’s stock-market trading would respond.
It is not possible from the reported price action alone to measure how much of bitcoin’s decline came from the Nvidia reports, Iran talks, liquidations, or other trading factors. The rebound above $75,000 had stalled by the time of the report, and the quoted prices are a snapshot rather than current live market data. No later outcome for the talks or investigation is provided.
Monday Trading Sets the Next Test
The next immediate signal identified in the report was the reopening of traditional markets on Monday, Nov. 9. Traders were expected to assess Nvidia-related news and the status of U.S.-Iran negotiations alongside broader risk sentiment. A market reaction could affect crypto trading, but its direction and size were not established.
CoinDesk’s technical analysis placed bitcoin near support at its 200-day average, about $73,150, and resistance at its 100-day average, about $77,430. These are chart levels cited at the time, not guarantees of where the price will move. The Nvidia board’s investigation and any further developments in U.S.-Iran talks were also unresolved.
Key Questions
How low did bitcoin fall?
CoinDesk data put bitcoin at about $73,761 late Sunday, its lowest level since August at the time of reporting. It later rebounded above $75,000; prices can change quickly.
Why did crypto prices move?
The moves coincided with reports about an investigation involving Nvidia CEO Jensen Huang and stalled U.S.-Iran talks. The report does not establish how much either development contributed to bitcoin’s fall or rebound.
What does more than $1 billion in liquidations mean?
According to CoinGlass, leveraged positions worth more than $1 billion were forcibly closed over 24 hours. About $913 million were long positions, which were bets on prices rising. The figure refers to liquidated positions, not necessarily the total amount of cash investors lost.
What has Nvidia confirmed about the investigation?
Nvidia’s board said it opened an independent investigation with outside counsel. The company said it had no reason to believe national security or company secrets had been compromised. The investigation’s findings were not available in the report.
What could traders watch next?
The report pointed to the reopening of traditional markets on Monday, Nov. 9, and further developments in the Nvidia investigation and U.S.-Iran talks. Neither the market response nor the eventual outcomes were known at the time.
Source: coindesk.com
