Bitcoin bottomed after the US midterm elections in 2018 and 2022 — and the great Bitcoin crash of November 2026 looks like history repeating. Bitcoin plunged more than $10,000 this week, and is currently trading at $65,116 for a 12.4% loss.
According to Anchorage Digital researcher David Lawant, the call is coming from inside the house. “BTC sell pressure continues to come primarily from the U.S,” he noted, positing a chart highlighting showing continued heavy net taker sell flow primarily on Coinbase compared with overseas exchanges.
The US spot Bitcoin ETFs have seen heavy outflows, losing $2.35 billion over the past two weeks, and influencer Axel Bitblaze noted that Bitcoin fell after the US open on all but two of the past fifteen days.
Source: Anchorage Digital
Binance founder Changpeng Zhao also rebuffed the idea that Binance is behind the crash. “No, Binance did not sell crypto. I bought crypto in the past few days,” he said. He attributed the crash to money shifting to the Anthropic IPO, the Bitcoin ETF outflows, security fears about crypto in general in the wake of the Binance hack, and hot inflation data raising expectations of interest rate hikes. Markets are now pricing in a quarter point Fed hike in December.
Bitcoin fell to a four month low near $62,000 on Sunday but has since rebounded above $65,000. The Crypto Fear and Greed Index fell to 10, which is Extreme Fear.
History provides some good news in that Bitcoin more then doubled in price within 12 months of the 2018 and 2022 midterm elections.
Jensen discusses NVIDIA comeback days after resigning
The Financial Times reports that Jensen Huang is plotting a comeback to the top job at NVIDIA with allies, following a determined push in Silicon Valley to pressure the board to reinstate him.
NVIDIA shares plunged after Huang resigned as CEO and from the board on Nov. 12, with Chief Financial Officer Colette Kress named as interim CEO. The resignation came shortly after news broke he’d had two other affairs, including one with a subordinate.
Multiple people confirmed Huang has been discussing the idea of returning with confidants, even though an independent probe by the board is examining allegations he was romantically involved with a Chinese spy who helped ferry chips to China. The FT reported one ally saying that supporters have put together a “war room” to reinstate him. “Everybody that matters in tech outside the frontier labs loves Jensen,” the source said. A petition to reinstate Huang has garnered more than 100,000 signatures, including 5,600 current NVIDIA employees, along with SpaceX boss Elon Musk and Epic Games CEO Tim Sweeney.
The turmoil at NVIDIA has weighed heavily on AI stocks and risk assets like cryptocurrency and the story still has a long way to run, with Congressional moves to investigated the issue and three bills advanced to tighten AI chip export restrictions to China. According to the New York Time, intelligence officials reportedly briefed President Trump about the allegations Alice Huang was a Chinese spy a year ago, but he did not take any action.
Ethereum should become post-quantum in 2027: Ethlabs
Ethereum research group Ethlabs is withdrawing its Quick Slots proposal from the forthcoming Hegotá upgrade, and has urged core developers to urgently prepare the network for quantum attacks by 2027.
On Wednesday, the group outlined “pqai27,” a proposed roadmap that aims to protect Ethereum against threats from quantum computing and artificial intelligence.
At Devcon, researcher Justin Drake said he hopes to complete the transition in 2028 while the published roadmap still targets December 2029.
Strategy gets booted from MSCI indexes
Index provider MSCI has confirmed Bitcoin treasury company Strategy will be removed from its global equity indexes, following months of debate over whether crypto treasury firms qualify as operating businesses. Japan’s Metaplanet and crypto treasury company Upexi are also marked for deletion, while Ether treasury firm Sharplink is on a watchlist. The changes take effect after market close on Nov. 30.
“Index inclusion meant ordinary passive investors, like someone holding a global index fund in their pension, were getting leveraged Bitcoin exposure they never chose. MSCI just fixed that,” Ryan Kirkley, CEO of Global Settlement Network, told Cointelegraph. Strategy fell 6.49% on Thursday and are down by more than one quarter over the past month.
Bitcoin ETFs shed $2.35B in 2 weeks, BlackRock’s losing streak hits 11
US spot Bitcoin exchange-traded funds (ETFs) recorded $2.35 billion in net outflows over two consecutive weeks, as redemptions reached more than $1 billion each week.
According to Farside Investors data, spot Bitcoin ETFs shed $1.07 billion between from Monday to Friday, following $1.28 billion in outflows the previous week, the largest weekly redemptions since late June.
Friday marked the seventh consecutive trading session of net withdrawals, with about $1.71…
cointelegraph.com