After Jensen Huang admitted to having an affair, a whale opened a 10x leveraged short position on Hyperliquid, shorting 30,000 shares of Nvidia (about $5.44 million), according to Lookonchain’s monitoring on November 9.
However, the timeline shows that Sunday night’s crash was not a direct reaction to the Nvidia news: after CNBC reported Sunday afternoon that the board had launched an investigation, Bitcoin barely moved for 90 minutes. Starting at 21:50, selling began with Ethereum: ETH fell 6.9% in five minutes ($2,213→$2,060), and BTC then dropped from $75,607 to $73,510 in about 10 minutes, hitting its lowest level since August 21.
Coinspeaker’s analysis suggests that thin weekend liquidity amplified the decline: BTC spot trading volume for that hour was about $180 million, well below the median of $366 million for comparable hours with sharp sell-offs over the past year. BTC then rebounded to $75,735 within two hours, before falling back to around $74,184 early Monday morning. Nvidia is scheduled to report earnings on November 17.
(Source: Coinspeaker, November 9; Lookonchain)
$BTC $ETH
However, the timeline shows that Sunday night’s crash was not a direct reaction to the Nvidia news: after CNBC reported Sunday afternoon that the board had launched an investigation, Bitcoin barely moved for 90 minutes. Starting at 21:50, selling began with Ethereum: ETH fell 6.9% in five minutes ($2,213→$2,060), and BTC then dropped from $75,607 to $73,510 in about 10 minutes, hitting its lowest level since August 21.
Coinspeaker’s analysis suggests that thin weekend liquidity amplified the decline: BTC spot trading volume for that hour was about $180 million, well below the median of $366 million for comparable hours with sharp sell-offs over the past year. BTC then rebounded to $75,735 within two hours, before falling back to around $74,184 early Monday morning. Nvidia is scheduled to report earnings on November 17.
(Source: Coinspeaker, November 9; Lookonchain)
$BTC $ETH