{
  "id": 19804789,
  "title": "Crypto Market Loses $130 Billion After Nvidia Shock",
  "url": "https://urgent.news/2026/11/13/crypto-market-loses-130-billion-after-nvidia-shock",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-13T12:32:51.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=281301"
  },
  "original_language": "en",
  "account": "The value of the global virtual asset market plummeted by over $130 billion in a single day, following Nvidia CEO Jensen Huang's resignation and the subsequent shakeup of U.S. artificial intelligence-related stocks. As major digital currencies tumbled together, forced liquidations of leveraged positions betting on price increases exacerbated the decline.\n\nCoinMarketCap reported that the market capitalization stood at $2.32 trillion at 4 PM on November 13, a 5.41% decrease from the previous day. Bitcoin's price fell to $69,119, a 5.98% drop from the prior day, while Ethereum's value plummeted to $1,942.55, a 5.00% decrease. Both Bitcoin and Ethereum sank to their lowest levels since August. BNB and Solana (SOL) also saw significant declines of 5.69% and 3.02%, respectively.\n\nAnalysts suggested that the U.S. Federal Reserve's ongoing interest rate hikes and apprehensions about tighter regulations under Democratic control of Congress contributed to the market's downturn. Rich Rosenblum, co-founder of virtual asset market maker GSR, noted that the volatility of AI-related stocks, a strong dollar, and Nvidia's management change added to the pressure on risky assets.\n\nThe resignation of Nvidia's CEO triggered a 4.3% drop in Nvidia's stock price on November 12 in the U.S. stock market. Bloomberg pointed out that forced liquidations, triggered by Bitcoin slipping below $70,000, further intensified the selling pressure. Sean McNulty, a derivatives trader at AQC Tech, explained that leveraged long positions, anticipating a price increase, were liquidated, amounting to more than $1 billion once Bitcoin dipped below $70,000.\n\nThe volatility of Bitcoin also impacted companies holding substantial amounts of the cryptocurrency. Japanese firm Metaplanet, which accumulated Bitcoin, reported a net loss of 27.157 billion yen ($172.54 million) from January to September 2023, attributing the loss to unrealized valuation declines on Bitcoin. The company sold 10,000 Bitcoins during the third quarter, generating 124.7 billion yen, and later repurchased 11,000 Bitcoins. As of the end of September, Metaplanet held 44,000 Bitcoins.",
  "summary": "With U.S. artificial intelligence (AI) related stocks shaken by the resignation of Nvidia CEO Jensen Huang, the global virtual asset market capitalization decreased by more than $130 billion in a single day. As major virtual assets fell together, leveraged positions betting on price increases were f",
  "key_points": [
    "Global virtual asset market value drops $130 billion in one day",
    "Nvidia CEO Jensen Huang resigns, causing AI-related stocks to decline",
    "Forced liquidations of leveraged positions exacerbate market decline"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}