Bitcoin Falls Below $70,000. Strategy Faces New Pressure After MSCI Exclusion
Bitcoin fell below $70,000 Friday for the first time since August, extending a selloff that has wiped out more than a fifth of its value since late September. The latest decline comes as Michael Saylor's Strategy faces a new challenge after index provider MSCI decided to remove the company from its benchmarks, raising concerns about potential investment outflows.
The world's largest cryptocurrency dropped about 3% to $69,342 in Friday morning trading, putting it on course for a sixth consecutive weekly loss. Bitcoin has fallen more than 21% from its late-September highs, while Ethereum slipped 3.2% to around $1,951, its lowest level in three months, according to market figures reported by The Wall Street Journal.
The weakness comes after weeks of selling across digital assets, with investors growing increasingly concerned about persistent U.S. inflation and the possibility of further interest rate increases by the Federal Reserve.
Higher interest rates generally make riskier investments less attractive, particularly assets such as Bitcoin that do not generate regular income. Recent declines in technology and artificial intelligence stocks have added to the pressure, prompting some investors to reduce their exposure to speculative assets.
Demand from cryptocurrency investment funds has also weakened. U.S. spot Bitcoin exchange-traded funds recorded nearly $300 million in net outflows Wednesday, marking a fifth consecutive day of withdrawals and bringing the total to approximately $1.44 billion since the beginning of the selling streak, according to data from SoSoValue.
BlackRock's iShares Bitcoin Trust accounted for about $270 million of Wednesday's outflows, extending its run of redemptions to nine consecutive trading sessions.
Bitcoin Price Slides Toward $73K as Nvidia Plunges 9% and MSCI Drops Saylor’s Strategy
In Bitcoin news, the coin fell from $74,811 to $73,480 within two hours of the U.S. close. Bitcoin slipped overnight after two shocks hit U.S. markets after Wednesday's close. Nvidia shares fell about 9% in after-hours trading on a new report about CEO Jensen Huang. Index provider MSCI also confirmed it will remove Strategy, the largest corporate Bitcoin holder, from its global indexes.
It trades at $73,588 on Binance on Thursday morning, down 0.4% in 24 hours and 5.8% in a week.
The funds are not helping. U.S. spot Bitcoin exchange-traded funds (ETFs) lost $299.8 million on Wednesday, their fifth straight day of outflows. Nasdaq futures are down 0.9%.
So what happened, and how much of the selling comes from the ETFs?
Two Shocks After the Close: Nvidia and MSCI The first hit came from Nvidia, the world's most valuable chipmaker. The New York Times reported on Wednesday evening that Huang had a second relationship with a senior employee who reports to him. The Wall Street Journal reported that Nvidia's board is preparing to remove him as CEO.
Nvidia had closed the day up 2.9% at $173.73. Within two hours, it traded at $157.99, down 9.1%. It is still down 8.6% before Thursday's open. Nvidia has lost about 15% since last Friday. It first fell on Monday, after its board opened a separate probe into reports that Huang was the target of a foreign intelligence effort.
SoFi’s Bank-Issued Stablecoin SoFiUSD Goes Live on Polygon, Its Third Blockchain
SoFiUSD, the dollar stablecoin issued by SoFi Bank, is now live on Polygon, making the network the token's third blockchain after Ethereum and Solana, Polygon Labs said in a press release on Thursday.
SoFi members can buy, sell, hold and convert SoFiUSD on Polygon inside the SoFi app, with no separate crypto wallet and no manual bridging of tokens between networks, according to the release. SoFi reported 17.1 million members at the end of September.
A Bank-Issued Dollar SoFi describes SoFiUSD as "the first stablecoin issued by a U.S. national bank." Its issuer, SoFi Bank, N.A., is overseen by the Office of the Comptroller of the Currency (OCC), the federal regulator of national banks.
SoFi launched the token in December 2025 as settlement plumbing for banks, fintechs and enterprise partners, then opened it to members in the app in May on Ethereum and Solana, saying more networks would follow.
The token can be redeemed one-for-one for U.S. dollars. It is not a bank deposit and carries no insurance from the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC), the release said.
BitGo had prepared for SoFiUSD on Polygon more than three months earlier: on July 31, the crypto custodian merged SoFiUSD token definitions for Polygon and the Tempo and Monad blockchains into its open-source software library.
Rothschild Investment LLC, an investment management firm based out of Chicago, has disclosed an exposure to the sixth-largest cryptocurrency, XRP, in its latest 13F filing.
The firm that offers portfolio management, retirement planning, and investment advisory services to customers in the U.S. filed 13F with the U.S. Securities and Exchange Commission (SEC) on Nov. 10. In it, the firm disclosed a stake in Bitwise XRP ETF (NYSE Arca: XRP) during the third quarter of 2026.
Launched on Nov. 19, 2025, the Bitwise XRP ETF offers indirect XRP exposure to those investors who want to get a taste of crypto from the comfort of traditional trading exchanges.
Crypto is still a niche investment category and its highly technical nature is often intimidating to several investors. Fund issuers like Bitwise offer crypto ETFs to exactly these kinds of investors who don't want to open accounts on crypto trading exchanges, change dollars to stablecoins for trading, hold their digital assets on crypto wallets, etc.
The Bitwise XRP ETF holds $431.44 million in net assets and $672.35 million in cumulative net inflow as of Nov. 10, as per the onchain analytics platform SoSoValue.
Bitcoin Sits Out Equity Fund Rush as Fed Hike Odds Reach 84%
Global equity funds drew a record $266 billion in four weeks, per the Kobeissi Letter. Bitcoin (BTC) sat out the rush as Fed hike odds for December hit 84.4%.
That rush now meets a Fed that markets expect to tighten. Higher rates raise Treasury returns against non-yielding assets like Bitcoin, leaving BTC holders facing a second headwind.
Who Is Capturing the Equity Fund Flows? The Kobeissi Letter, says US equity funds have taken in $2.1 trillion since 2020. Of that, $1.5 trillion arrived since the start of 2024.
In contrast, emerging market Asia equity funds attracted $470 billion, per the same post. European equity funds lost $426 billion.
Even so, Asian stocks rebounding on Monday took their cue from Wall Street rather than setting the direction.
Global equity funds gained $89 billion last week, with US funds supplying $32 billion of it. As a result, four-week inflows reached a record $266 billion, the post said.
What Do 84% Fed Hike Odds Mean for Bitcoin? The CME Group's FedWatch tool converts futures on the Fed's benchmark rate into probabilities. It shows an 84.4% chance of a quarter-point hike on December 9, with 0% assigned to a cut.
However, the Fed held rates at 3.75% to 4% on October 28 in a 10 to 2 vote. Officials Lisa Cook and Beth Hammack dissented in favor of a quarter-point hike at that meeting.
Meanwhile, Bitcoin lagged the Nasdaq rebound on Friday. US spot Bitcoin exchange-traded funds (ETFs) saw $1.28 billion in net outflows from November 2 to 6, the analysis said.
Consumer price index (CPI) data lands later Tuesday and will test those rate expectations. A $42 billion 10-year note auction follows this week's Treasury sales, which opened with soft demand.
Still, positioning this concentrated may leave US equities exposed to a firmer Fed than priced in. It may also leave crypto exposed if capital keeps skipping it.
Pewdiepie Odysseus AI Predicts a Parabolic PEPE Memecoin Rally
PEPE could be on the verge of one of the most absurd parabolic runs in memecoin history. Pewdiepie Odysseus AI predicts that a hypothetical landmark catalyst could move the once-viral token that would melt faces and reinvigorate sentiment across the memecoin sector.
A perfect storm in which PEPE is suddenly embraced as the unofficial cultural symbol of a massive global internet movement, amplified by a high-profile celebrity or political figure publicly stacking bags.
(SOURCE: Pewdiepie Odysseus AI Predicts a PEPE Explosion)
This is all while a major exchange simultaneously launches a PEPE-focused structured product or leveraged ETF that funnels unprecedented retail FOMO into the token.
The frog then goes fully mainstream, liquidity explodes, and the narrative shifts from "just another meme" to "the last great cultural crypto asset of the cycle."