Live news: Nvidia slides on CEO allegations as bitcoin hovers just above its 200-day average

Bitcoin continued its downward trend, reaching its lowest point since mid-August, at $73,500, as Nvidia's stock volatility added to sell-side pressure across stock-market futures. Leveraged crypto positions were liquidated, totaling over $1.12 billion in the 24 hours prior to the US inflation reports. Bitcoin dropped below its 50-week and 21-week simple moving averages, indicating a bearish trend.

Analysts stated that a level at $79,300 could act as resistance if recent buyers sell as they break even. Nvidia announced an independent investigation into reports that CEO Jensen Huang was targeted by a foreign intelligence effort, causing Nasdaq 100 futures to turn lower. South Korean markets also saw declines, with the Kospi closing down 0.8%.

The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) and Producer Price Index (PPI) on Tuesday and Friday, respectively. The Federal Reserve is expected to raise interest rates by 25 basis points in December, with 78.8% odds according to CME Group's FedWatch Tool. Fed officials, including Governor Christopher Waller and Vice Chair Michelle Bowman, will speak on the economic outlook in the coming days.