Bitcoin Holds Near 200-Day Average Amid Nvidia Turbulence
Bitcoin traded near $74,000 on Monday after recovering from an overnight low of $73,761, a level just above its 200-day moving average of $73,151. The move came as reports involving Nvidia CEO Jensen Huang added pressure to AI-linked stocks and renewed attention on crypto’s connection to wider risk markets.
CoinDesk reported that bitcoin was more than 2% lower than the previous Friday, while Nvidia and several neocloud companies retreated in pre-market trading after a strong rally at the end of last week.
What happened
Bitcoin traded at $74,000 on Nov. 9, according to CoinDesk, after bouncing from an overnight low of $73,761. CoinDesk said that low sat just above the cryptocurrency’s 200-day moving average of $73,151, a widely watched long-term price indicator.
Futunn similarly reported that bitcoin was 1% lower on the day at $74,000 after the rebound from $73,761. The outlet described the low as just above the 200-day moving average, although its report did not provide the full figure for that average.
Attention centered on Nvidia after reports concerning Huang’s relationship with Alice Huang, a business executive. CoinDesk reported that Nvidia fell more than 4% in pre-market trading to about $178.70 after reports that Huang admitted to an affair and that U.S. intelligence officials suspected Alice Huang of passing information to Beijing.
That allegation remains unproven. Yahoo Finance said CNBC had reported that Nvidia’s board opened an independent investigation into Huang’s relationship with a woman whom U.S. intelligence agencies believed was passing information to Beijing, while describing the claim as speculation. Yahoo Finance also reported that Huang acknowledged the affair in an email to staff.
In a later report, CoinDesk said Nvidia’s board had opened an independent investigation overseen with outside independent counsel. CoinDesk added that the board said it had no reason to believe company secrets or national security had been compromised.
Other stocks associated with neocloud infrastructure also moved lower. CoinDesk reported that IREN, CoreWeave and Cipher Mining each fell around 2% in pre-market trading, surrendering part of Friday’s double-digit gains.
Why it matters
The session underscored how bitcoin has recently traded alongside AI-related equities. Yahoo Finance reported that bitcoin had moved in step with AI shares for weeks, and said a chip-stock sell-off on Thursday pushed bitcoin below its 200-day average.
Yahoo Finance also said crypto was the only market open to sell into the Nvidia-related headline while stock markets were closed. That dynamic can make weekend price action especially sensitive to fast-moving news because bitcoin remains continuously traded while many traditional markets are shut.
The 200-day moving average has become a focal point because bitcoin’s overnight low approached it closely. CoinDesk placed the average at $73,151, while Bitbo described support around $73,150 and said bitcoin was between that level and 100-day average resistance at $77,430.
Leverage added to the market’s sensitivity. CoinDesk reported that more than $1 billion in leveraged crypto positions were liquidated in 24 hours, including $913 million in long positions. The reported liquidations included $448 million in ether and $272 million in bitcoin positions.
There were differences in reported bitcoin levels across updates. CoinDesk’s earlier live report put bitcoin at $74,000, while a later CoinDesk report cited in the supplied reporting updated the figure to $74,600. Those differing snapshots reflect a fast-moving market rather than a single fixed price.
Background and context
Nvidia sits at the center of the AI boom and U.S.-China technology competition. Washington restricts exports of Nvidia’s most advanced AI chips to China, making questions around the company’s leadership, information security and China-related exposure consequential for investors following AI-linked assets.
That position helps explain why reports of a board investigation into Huang pressured AI-linked stocks and crypto. The market reaction extended beyond Nvidia to companies connected with neocloud infrastructure, while bitcoin was available for trading during the weekend when stock markets were closed.
CoinDesk reported that gold remained above $4,000 as bitcoin traded near $74,000. The simultaneous moves placed bitcoin alongside a broader set of assets being watched during a period of market uncertainty, though the reports did not establish a single cause for every price move.
Yahoo Finance also pointed to a separate geopolitical development, reporting that Secretary of State Marco Rubio called Iran’s demands “outrageous” and said talks had made no progress. The outlet presented that headline as an additional factor in the market mood.
What to watch
Markets will be watching whether bitcoin continues to hold above the 200-day moving average identified by CoinDesk at $73,151. The immediate question is whether price action remains concentrated around that level or moves toward the other technical levels cited in market reporting.
Another open question is the outcome of Nvidia’s independent board investigation. CoinDesk reported that the company said it had no reason to believe secrets or national security had been compromised, but the underlying intelligence-related allegation remains unproven.
Investors will also be watching whether neocloud stocks continue to track Nvidia’s response and whether the recent relationship between bitcoin and AI shares persists when traditional markets are fully open. The scale of reported leveraged liquidations leaves market participants focused on whether volatility continues to affect bitcoin and ether positions.
