Crypto Panic or a Spillover from Nvidia CEO Resignation

On Friday, November 13, 2026, the cryptocurrency market endured a steep, liquidation-driven sell-off, with the total digital asset market capitalization sliding roughly 5.8% to $2.3–$2.4 trillion.

Cryptocurrencies retreated across the board, erasing earlier stabilization attempts as selling pressure intensified during the overnight and morning sessions.

According to the reports, Bitcoin price fell 4%–6% over 24 hours, hitting a 12-week low and testing its 200-week moving average (~$67,752). Ethereum price followed the trend and slipped below the psychological $2,000 threshold for the first time since August; ETF outflows reached ~$696M on the week.

Drivers Behind the Sell-Off

Between late Thursday night and early Friday morning, thin order books amplified a sharp downward move that wiped out $1.31 billion in leveraged positions over 24 hours. According to derivatives data, approximately 83% of liquidated bets were long positions, with Bitcoin alone accounting for roughly $677 million in forced unwinds.

Furthermore, a hotter-than-expected October Consumer Price Index (CPI) print (+0.4% vs. 0.3% forecast) reinforced market fears that the Federal Reserve will maintain a hawkish stance or hike rates at its December 9 policy meeting.

Combined with steady institutional redemptions, including $95 million in daily net outflows from U.S. spot Bitcoin ETFs, institutional spot buyers remained largely on the sidelines ahead of Friday's October Producer Price Index (PPI) release. 

Spillover from Nvidia CEO Jensen Huang’s Resignation

Risk-off sentiment across tech and high-beta markets escalated following Thursday's shock resignation of Nvidia co-founder and CEO Jensen Huang after 33 years at the helm. Because tokenized equities and stock-linked perpetual futures (such as NVDA contracts on Hyperliquid and centralized exchanges) have become heavily integrated into crypto derivatives venues, Nvidia's sharp drop immediately spilled over into broader crypto market deleveraging.

The 200-Week Moving Average

Bitcoin is hovering just above its 200-week moving average at $67,752. A weekly close below this level on Sunday evening would mark a notable technical breakdown, potentially exposing deeper support near $64,000.

With Wall Street ETFs and CME futures closed until Sunday evening, thinner weekend order books leave the market vulnerable to heightened volatility in either direction.

Disclaimer. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds. Brought from CoinIdol.com.