Nvidia shares tumbled after Jensen Huang's resignation, while scrutiny and leadership uncertainty intensified.
Bitcoin plunged below $70,000 as liquidations exceeded $1.4 billion, with nearly 89% affecting long positions.
Upcoming Nvidia earnings and congressional scrutiny could shape market sentiment as Bitcoin tests critical support levels.
While the whole world has come to know that Nvidia’s CEO Jensen Huang engaged in an extramarital affair, there are still questions about how that led to Bitcoin’s price sliding under $70,000.
BlockInsider has put together a timeline of what, how, and why happened in the last few days, as well as what NVDA and BTC have to look forward to.
A Little Background
Alice Huang (no relation to Jensen Huang) became managing director of Singapore-based Megaspeed in 2023. Megaspeed went on to buy billions of dollars in Nvidia chips and servers. She has been photographed socializing with Jensen Huang over the past two years.
Secretary of State Marco Rubio reportedly briefed Trump on the counterintelligence risk before Huang joined the May 2026 Beijing trip.
October 29: The affair surfaces
The New York Times reported that Huang had a close relationship with a suspected Chinese spy.
NVDA: Fell from about $214 on October 29 to $205 on October 30. Roughly $1 trillion in market value has been lost since.
BTC: Spot Bitcoin ETFs saw net outflows from October 30 onward. Falling by 4.12%, the crypto king closed Thursday at $77,991.
NVDA: Down 13% through Friday from the first reports. Friday's close was $186.64.
The Financial Times reported Huang's relationship with a businesswoman an NBC source called a Chinese spy.
BTC: Bitcoin had a mixed week, recovering to close above $80,000 on November before falling back down to close the week at $75,867, marking a 2.72% decline.
November 8: Huang admits the affair
Huang told employees he had an extramarital affair. The board announced an independent investigation, and the NYT reported surveillance suggesting Alice Huang was passing information to Beijing.
The board hired Wachtell, Lipton, Rosen & Katz and said it had no reason to believe national security or Nvidia secrets were compromised.
NVDA: Early losses reached about 8%. It closed down 4.27% at $178.67.
BTC: More than $1.15 billion of crypto positions were liquidated, mostly longs. Stalled U.S.-Iran talks were also cited.
November 10: Megaspeed faces scrutiny
Reports said a Commerce Department probe of Megaspeed had been moved to the Justice Department.
NVDA: Fell 5.47%, briefly dipping below a $4 trillion market cap before closing above it.
BTC: A hot inflation report raised rate-hike odds, with another $723 million liquidated. Bitcoin's low of $72,727 was its weakest since Aug. 20.
November 11: The second affair comes to light
Baird downgraded Nvidia and cut its target from $500 to $200.
After the close, the NYT reported a second affair, with Kimberly Powell, a vice president reporting to Huang. The board met that night.
NVDA: Closed at $173.73. It fell nearly 7% after hours.
BTC: Spot ETFs lost about $300 million, a fifth straight day of outflows. MSCI also said it would drop Strategy from its indexes, another blow to BTC.
November 12: Huang resigns, Kress steps in as interim CEO.
Bernstein, Evercore, Melius, William Blair and Oppenheimer cut ratings or targets. RBC cut its target to $230.
NVDA Stock Downgrades | Source: CNBC
Nvidia announced Huang's immediate resignation. CFO Colette Kress became interim CEO. Harvey Jones was named board chairman. Reuters reported a second employee was involved with Huang.
NVDA: Down as much as 14%. It closed at $166.19, down 4.34%, and edged up about 1% after hours.
BTC: Opened at $73,928 and fell to about $71,300, its lowest since August.
November 13: Bitcoin falls to 3-month low
BTC: Fell below $70,000 for the first time since August, with over $1.2 billion liquidated of which 88.4% were long liquidations. A strong dollar also weighed, and Bitcoin is about 14.15% down over the last seven days.
In the coming days, NVDA will have a bigger battle to fight depending on how its pre-scheduled November 17 Q3 earnings report goes. The Wall Street is estimating the Q3 revenue to reach $108 billion (+/-2%), with potential for a higher revenue. EPS is expected to come in at $2.47 to $2.48.
Nvidia reported $35.1 billion revenue in Q3 2025, and if Q3 2026 delivers per expectations, the company would be posting a 208.5% increase over the year.
In addition to this Nvidia also has an all-hands companymeeting on November 18, which is likely to be headed by the interim CEO. The same day will also see Huang attend a closed-door briefing, with three House Republican committee chairs.
What’s Next For NVDA and BTC?
Bitcoin (BTC)
Forced selling dragged Bitcoin (BTC) to $68,835 today during the intra-day low, its weakest level since mid-August. The daily candle shows a 3.6% decline and an intraday low of $67,568.0. Price now sits below $70,000, a level it had not lost since August.
Hotter US inflation data raised expectations of a Federal Reserve rate hike in December. Higher rates raise the cost of holding non-yielding assets such as Bitcoin. Liquidations topped $1.4 billion in 24 hours, with about 89% hitting long positions.
Bitcoin Liquidations | Source: Coinglass
BTC price has lost $72,294 and $70,000 and now tests $68,830. The 50-day MA is also inching closer to the 200-day MA. That threatens the Golden Cross seen in mid-September.
A daily close below $68,830 targets $67,000, then $65,888. However, a daily close above $70,000 would invalidate the bearish thesis. That move would target $72,294.
Nvidia (NVDA)
Jensen Huang's immediate resignation as CEO and director sent Nvidia (NVDA) sharply lower on November 12. Shares closed at $166.2, down 4.3%, after plunging about 14% at the open.
NVDA Price | Source: TradingView
Price sits between the 2.0 Fib extension at $174.5 and the 2.618 level at $153.2. Both moving averages, at $210.4 and $203.8, slope lower overhead. The stock trades about 32% below its $243.4 peak. Shares edged up to $167.9 in pre-market trading.
A daily close below $153.2 targets $140.1, the 3.0 level. A close above $174.5 would invalidate the bearish thesis and target $187.7. The earnings report scheduled for November 17 could decide which path holds.
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