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Bitcoin (BTC) set new multimonth lows after Thursday’s Wall Street open as selling pressure returned to the US stock market.Â
Key points:
- Bitcoin price losses hit 3.5% on Thursday as markets reacted to the resignation of Nvidia CEO Jensen Huang.
- Nvidia stock fell as low as $148.80 before rebounding to around $160, down 7.2% on the day at the time of writing.
- BTC price analysis sees Friday’s US Producer Price Index (PPI) data as the next key volatility event.
Nvidia appoints interim CEO as stock plummets
Data from TradingView showed BTC/USD dropping below $72,000 for the first time since Aug. 20 as month-to-date losses reached 7.4%.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Turmoil at Nvidia following the immediate resignation of CEO Jensen Huang dragged stock markets downward, with NVDA falling nearly 13% at the Wall Street open.Â
“Colette Kress, current Executive Vice President and Chief Financial Officer of NVIDIA,…
