Nvidia dropped a huge bombshell today. The Wall Street Journal says the board is preparing to replace Jensen Huang, while the New York Times also reported rumors of an affair involving him and a company executive. The stock plunged about 7% before the market opened. A CEO crisis at an AI leader dragged down the entire tech sector, and Bitcoin took a hit too, falling back to around $73,400, down about 0.8% over 24 hours.
What stings even more is what’s happening elsewhere: U.S. spot Bitcoin ETFs saw another $299.9 million in outflows yesterday, bringing the total to about $1.44 billion over five consecutive trading days. BlackRock’s IBIT alone accounted for $269.7 million, and has seen redemptions for nine straight trading days. The Fear and Greed Index fell to 27—firmly in fear territory.
My take is that the AI narrative and crypto are far too tightly linked right now. When Nvidia sneezes, crypto catches a cold. If ETF money doesn’t come back, retail investors alone can’t prop up the $73,000 level. If you’re carrying debt, don’t try to be a hero and buy the dip right now. Scale back your positions and steady your nerves—making it to the next big opportunity matters more than anything.
If an AI leader runs into trouble, can crypto really stay out of it, or are we all destined to fall together this time?
$BTC $ETH
This is not investment advice. Do your own research.
What stings even more is what’s happening elsewhere: U.S. spot Bitcoin ETFs saw another $299.9 million in outflows yesterday, bringing the total to about $1.44 billion over five consecutive trading days. BlackRock’s IBIT alone accounted for $269.7 million, and has seen redemptions for nine straight trading days. The Fear and Greed Index fell to 27—firmly in fear territory.
My take is that the AI narrative and crypto are far too tightly linked right now. When Nvidia sneezes, crypto catches a cold. If ETF money doesn’t come back, retail investors alone can’t prop up the $73,000 level. If you’re carrying debt, don’t try to be a hero and buy the dip right now. Scale back your positions and steady your nerves—making it to the next big opportunity matters more than anything.
If an AI leader runs into trouble, can crypto really stay out of it, or are we all destined to fall together this time?
$BTC $ETH
This is not investment advice. Do your own research.