Bitcoin trades at $73,512, dropping below its 50-week SMA as ETF outflows hit $300 million and the Dollar Index reaches its highest level since March 2025.
Bitcoin at $73,512 has fallen below its 50-week simple moving average of $75,153, invalidating September's bullish signal, with market maker Wintermute flagging $68,000 as the next downside level unless $80,000 is reclaimed. This technical failure coincides with spot ETF outflows reaching a fifth day (~$300 million), signalling weak institutional demand. A dollar rally toward 103 adds further pressure, though some strategists see the hawkishness as priced in.
MSCI is dropping Strategy from its indexes, which observers worry could hamper the company's ability to raise money for bitcoin purchases, pressuring its liquidity and relative value. However, Marex notes the company still holds 850,364 BTC, reported no sales, and much of the bad news may already be priced in, limiting an automatic selloff.
Nvidia shares fell 6% as the board weighs CEO Jensen Huang's future following reports of two extramarital affairs, and Wall Street analysts told CNBC that removing Huang could push the stock lower given how critical he has been to Nvidia's success. The outcome remains unresolved, keeping uncertainty elevated.
The Dollar Index briefly topped 103, its highest since March 2025, with a Federal Reserve rate increase seen as baked in for December — supporting continued dollar strength. However, LMAX strategist Joel Kruger argues much of the hawkishness is already priced in, tilting the balance of risk toward profit-taking on dollar longs.
Bitcoin has fallen below its 50-week simple moving average of $75,153, invalidating a bullish signal from September. This technical failure is compounded by five consecutive days of spot ETF outflows totaling approximately $300 million, signaling waning institutional demand. Market maker Wintermute identifies $68,000 as the next potential downside level, while the Dollar Index's climb above 103 continues to exert pressure on risk assets.
It has fallen below its 50-week moving average ($75,153) after breaking out in September, a failed breakout pattern analysts view as sellers regaining control, and ETF outflows have persisted for five days.
Wintermute sees $68,000 as the next level down, while reclaiming $80,000 would change the cautious view.
Marex analysts say no — the cleaner trade is pressure on MSTR's liquidity, since the company still holds 850,364 BTC and reported no sales; extrapolating index outflows into spot Bitcoin supply would be the wrong hedge.
Investors are awaiting the outcome of the board's weighing of CEO Jensen Huang's future after reports of extramarital affairs; analysts said removing him could hurt the stock.
The article notes the index topped 103 with a December Fed hike priced in, but LMAX's Kruger thinks the hawkishness is largely reflected in prices and sees risk tilted toward dollar profit-taking.