Live updates: Bitcoin slumps below $72,000 as Nvidia's Huang resigns, interest rates surge

Live updates: Bitcoin slumps below $72,000 as Nvidia's Huang resigns, interest rates surge

The Fed continued amping up its hawkishness on Thursday; meanwhile, existing home sales fell to their weakest level in 16 years.

By James Van Straten, Shaurya Malwa, Omkar Godbole, and Stephen Alpher|Edited by Stephen Alpher

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17 minutes ago · 10:12 a.m. ESTStephen Alpher

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Existing home sales fall to weakest level since 2010

Amid the surge in interest rates, existing home sales fell to 3.75 million in October from 3.97 million previously, the NAR reported on Thursday. Forecasts had been for a dip to just 3.85 million.

“Home buying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023,” said the NAR’s Lawrence Yun. “As a result, home sales fell to their lowest level since August 2010.”

29 minutes ago · 10:00 a.m. ESTStephen Alpher

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Bitcoin falls to new three-month low, but major averages about flat as Huang exits

About 30 minutes into the trading day, the Nasdaq is down just 0.35% as Nvidia NVDA$164.70 falls 7% following CEO Jensen Huang’s resignation. The S&P 500 is down 0.3%, and the DJIA is posting a small gain.

Among those benefiting from Nvidia’s struggles are Broadcom (AVGO) and AMD (AMD), each higher by about 3%.

1 hour ago · 9:23 a.m. ESTStephen Alpher

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Restrictive policy stance needed: Cleveland Fed's Hammack

Cleveland Fed President Beth Hammack says inflation pressures are broadening and moving in the wrong direction.

The central bank, she said, needs to move to a restrictive policy stance.

Hammack tends to lean hawkish, so the comments aren’t too much of a surprise. Hammack, however, did appear to push back just a bit on remarks earlier this week from Fed Governor Chris Waller, who said he would be in favor of a 50-basis-point rate hike at the upcoming December meeting.

For now, Hammack said, she prefers smaller, steadier rate hikes. Larger moves might only be needed if the Fed gets further behind the inflation curve.

U.S. short-term rates (those mostly affected by Fed policy) are surging higher early Thursday, with the 2-year Treasury yield up 7.2 basis points to 4.80%.

Bitcoin has pulled back below $72,000.

1 hour ago · 8:53 a.m. ESTStephen Alpher

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Huang out as Nvidia CEO

Jensen Huang has resigned as CEO of Nvidia NVDA$164.70, effective immediately, the company said minutes ago. He’s also resigned from the board.

He’s to be replaced on an interim basis by CFO Colette Kress.

Current board member Harvey Jones has been named the company’s first-ever chairman of the board.

The company still intends to report its Q3 results on Nov. 17.

Shares are down 10%. Bitcoin continues lower on the day at $72,400.

1 hour ago · 8:39 a.m. ESTStephen Alpher

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Strive lifts dividend rate on SATA

Bitcoin treasury company Strive ASST$21.29has raised the annual dividend rate on its high-yielding preferred stock SATA by 25 basis points to 13.25%.

The move comes after an extended period in which SATA has traded sizably below its $100 par value.

Strive’s far-larger peer Strategy’s high-yielding preferred stock STRC has a dividend rate of 12%.

When those preferred stocks trade at or above $100, the companies issue shares and use the proceeds to purchase additional bitcoin. When they trade well below that level, the companies are hamstrung in those capital-raising efforts.

1 hour ago · 8:35 a.m. ESTStephen Alpher

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Jobless claims edge up to 200,000

U.S. initial jobless claims rose to 200,000 last week from 191,000 previously. Forecasts had been for a rise to 195,000.

The four-week average was steady at 195,250.

Even with last week’s rise, claims remain at historically low levels, suggesting little stress in the jobs market.

2 hours ago · 8:20 a.m. ESTStephen Alpher

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'We don't need a deal with Iran': Trump comments send oil higher

“I have asked Vice President Vance to focus his complete and total attention on the Massive Corruption and Crime taking place in Democrat run Cities and States throughout the U.S.,” said President Trump minutes ago on Truth Social.

His comments come following reports Vance was trying to take the reins as the lead negotiator with Iran, and considering direct talks with one of that country’s top officials.

“We don’t need a deal with Iran. Those days have long since passed,” the president concluded.

Oil has gained about $2 per barrel on the news, now higher by 1.5% for the day at $87.62. Bitcoin has dipped below $72,500.

2 hours ago · 8:00 a.m. ESTJames Van Straten

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Nebius shares slide 8% despite revenue surge as quarterly spending hits $7.3 billion

Nebius NBIS$126.31 shares fell 8% despite reporting third-quarter revenue of $980.8 million, up 571% year over year.

The AI cloud company generated adjusted EBITDA of $465.8 million, reversing a year-earlier loss, while its net loss narrowed to $37.5 million from $119.6 million.

Expansion remained capital intensive, with quarterly spending on property, equipment and intangible assets reaching $7.3 billion. Operating cash outflows totalled $273 million, while cash and cash equivalents stood at $7.4 billion at quarter-end.

2 hours ago · 7:44 a.m. ESTJames Van Straten

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Figure reported third-quarter revenue of $287 million

Figure Technology Solutions (FIGR) uses blockchain technology to help lenders originate, fund and trade loans, including home equity loans, through its digital marketplace.

Figure reported third-quarter revenue of $287 million, up 84% year over year, as loan marketplace volume surged 135% to $5.8 billion. Adjusted EBITDA rose 91% to $164 million, while net income was broadly unchanged at $89 million. Its Kiavi acquisition contributed $677 million in volume. Figure expects fourth-quarter marketplace volume of $6.2 billion to $6.7 billion and doubled its share buyback authorisation to $400 million.

Shares are up 8% pre-market.

2 hours ago · 7:44 a.m. ESTOmkar Godbole

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Ether slides toward $2,000 amid 24% decline this quarter

Ether ETH$2,003.11 is falling toward the $2,000 mark.

The cryptocurrency is down 24% this quarter versus bitcoin's 12% slide.

2 hours ago · 7:39 a.m. ESTOmkar Godbole

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$60,000 bitcoin put is the third most popular bet on Deribit

The $60,000 bitcoin BTC$73,512.58 put option is now the third-most popular contracton Deribit, the world’s largest Bitcoin options exchange.

A put option pays off when the underlying asset, BTC, slides below a specific level, in this case $60,000. Puts represent a bearish bet on the market and are used by traders to profit from or hedge against an expected market swoon. A call represents a bullish bet.

4 hours ago · 6:19 a.m. ESTJames Van Straten

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Bitcoin’s hash rate has fallen back below 1 ZH/s

Hash Rate (Glassnode)

Bitcoin’s hash rate has fallen below 1 zettahash per second (ZH/s), with its seven-day moving average declining to 937 exahashes per second (EH/s) from a recent high of 1.1 ZH/s, according to Glassnode data.

Hash rate peaked at 1.15 ZH/s in October 2025, when bitcoin traded near its all-time high of $126,000. During the bear market that followed, it fell as low as 826 EH/s in February.

4 hours ago · 5:31 a.m. ESTShaurya Malwa

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Bitcoin ETFs bleed $300 million as BlackRock’s IBIT takes nearly 90% of the hit

U.S. spot bitcoin ETFs lost about $300 million on Wednesday, and nearly $270 million of it came out of BlackRock’s IBIT, according to SoSoValue data.

Grayscale’s GBTC lost another $39 million. Morgan Stanley’s MSBT was the only one of the 12 funds to take in money, adding about $9 million, and the other nine saw no flows at all.

The selling wasn’t limited to bitcoin. Ether ETFs lost about $145 million, the lone ZEC fund shed nearly $15 million and SOL funds lost about $6 million. XRP funds saw no flows. In all, about $465 million left U.S. spot crypto ETFs in a single session.

The withdrawals add to the pressure on holders who are already underwater. Bitcoin traded near $75,000 on Monday, well below the roughly $81,500 that Glassnode estimated last month U.S. spot ETF buyers had paid on average.

Even after Wednesday, cumulative net inflows into U.S. spot bitcoin ETFs stand at about $55 billion since the funds launched in January 2024.

5 hours ago · 5:06 a.m. ESTJames Van Straten

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CoreWeave eyes $4 billion loan as shares retreat after 25% earnings rally

CoreWeave plans to raise at least $4 billion through an investment-grade loan, potentially launching next week, Bloomberg reported. Morgan Stanley and MUFG are leading the financing, expected to be backed by chips and customer contracts. Borrowing costs could reach 7% to 7.5%, roughly half the yield on its existing junk bonds. The company raised its annual revenue forecast to $13 billion to $13.3 billion. Shares surged 25% on Wednesday following strong earnings but are down 5% in Thursday’s pre-market trading.

6 hours ago · 4:15 a.m. ESTJames Van Straten

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Nvidia turmoil hits AI stocks as Strategy is removed from MSCI index

The kangaroo market continues. After closing almost 3% higher on Wednesday, the Nasdaq 100 is set to surrender some of those gains, with futures down almost 1% ahead of Thursday’s open.

Nvidia NVDA$164.70 is leading the reversal, falling around 7% in premarket trading as uncertainty grows over co-founder and CEO Jensen Huang’s future. The board held talks on Wednesday following reports of a relationship with a senior company executive. Those reports followed Huang’s admission of an affair with a woman whom U.S. officials suspect of being a Chinese intelligence asset. No decision on his future has been announced.

The selloff is spreading across AI infrastructure stocks. IREN IREN$18.84 is down 5%, Cipher Digital CIFR$6.7730 has fallen 6%, and CoreWeave (CRWV) is off 7%, giving back part of Wednesday’s 25% surge.

Crypto markets face a separate headwind. MSCI has confirmed that Strategy MSTR$114.53, the largest corporate bitcoin holder, will be removed from its widely tracked global equity indexes after the close on Nov. 30. The decision creates potential selling pressure from funds tracking those benchmarks.

Strategy shares are down around 4% in premarket trading, while bitcoin has retreated to roughly $73,500.

Gold is also under pressure, falling more than 1.5% over the past 24 hours to trade firmly below $4,000 an ounce.

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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

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