Bitcoin fell to a 12-week low as MSCI confirmed it will drop Strategy from its indexes and Nvidia lost its founder-CEO. JPMorgan estimated the index exclusion alone could mean roughly $2.8 billion of selling pressure.
Bitcoin sinks while two separate shocks land at once
Bitcoin dropped to a 12-week low this week as two unrelated stories hit markets together. The Block framed its newsletter around the slide, linking it to Jensen Huang's exit from Nvidia. The same newsletter said Strategy and Metaplanet will lose MSCI index membership on Nov. 30.
Cointelegraph reported that Strategy shares fell 6.49% on Thursday and closed at $114.41. MSCI had announced the day before that it would remove the company from its worldwide equity benchmarks. Bitcoin and the wider crypto market were also falling at the time.
The two stories touch different parts of the market. One is a structural change for the best-known Bitcoin treasury company. The other is a leadership shock at a chipmaker whose scale makes it a bellwether for risk appetite.
Why an index removal can force selling
Index funds buy the stocks in a benchmark and sell those that leave it. When a company is dropped, funds that track the index must exit their positions, usually around the effective date. According to Cointelegraph, MSCI confirmed that Strategy's exit from its worldwide equity benchmarks will happen once trading ends on Nov. 30.
Cointelegraph noted an earlier JPMorgan projection of about $2.8 billion in selling pressure from the removal. Strategy has pushed back on the idea that the impact is large. In its Aug. 31 reply to MSCI's proposed rules, it described the changes as a pretext aimed at digital asset treasury firms.
Strategy also said MSCI-linked funds held approximately 13 million of its shares. It put that at just 3.1% of its basic shares outstanding. Readers comparing the JPMorgan estimate with Strategy's own figure should note that the two numbers measure different things and the outlets do not reconcile them.
The numbers that frame the sell-off
The figures below come from Cointelegraph's reporting and from market data for Bitcoin.
- Strategy shares fell 6.49% on Thursday to $114.41, according to Cointelegraph.
- MSCI's removal takes effect after the market close on Nov. 30.
- JPMorgan's earlier estimate of selling pressure from the exclusion was roughly $2.8 billion.
- MSCI-linked funds held approximately 13 million Strategy shares, or 3.1% of basic shares outstanding, per Strategy's Aug. 31 filing as described by Cointelegraph.
- Bitcoin traded at $69,074 in the latest market data, down 6.0% over 24 hours, 8.7% over seven days and 17.2% over 30 days.
- Bitcoin's all-time high is $126,080, set on 2025-10-06.
Nvidia's leadership shake-up draws crypto voices
Decrypt reported that on Thursday Nvidia confirmed Huang had stepped down from his roles as president, chief executive and director. Longtime finance chief Colette Kress was named interim CEO. The move followed reports of extramarital affairs, including one involving a businesswoman that U.S. intelligence reportedly suspected of links to China. Nvidia said in a board statement that it saw no sign of a compromise of its secrets or of national security, and an independent investigation is still underway.
According to Decrypt, Nvidia shares fell 14% at the opening bell, and U.S. stocks lost more than $500 billion in value within one minute. The company dropped to third place among the most valuable firms. Decrypt did not tie that move to Bitcoin's price, so the link to crypto remains an interpretation by The Block's newsletter.
Several crypto figures criticised the decision. Changpeng Zhao said it was a mistake for Nvidia to let Huang resign. Erik Voorhees questioned the evidence behind the spy allegation. Others focused on open-source AI. Nvidia agreed in September to acquire Hugging Face for roughly $12.9 billion, subject to regulatory clearance, with closing expected in the first half of 2027.
Decrypt also cautioned that claims of a coordinated effort to oust Huang need much more evidence. It said no law enforcement agency has presented hard evidence against the businesswoman named in the reports.
How the outlets' accounts line up
The outlets cover different angles and only partly overlap. Cointelegraph supplies the most detail on the MSCI decision and the stock reaction. Its headline says Strategy shed 5%, while the article text reports a 6.49% fall at the close, so the headline appears to describe an earlier or rounded move.
Bitcoin's price also differs by timing. Cointelegraph put it near $71,340 at 4:08 p.m. ET on Thursday, down 4.3% over 24 hours, with total crypto market capitalization down 3% to around $2.49 trillion. Later market data shows Bitcoin lower at $69,074, down 6.0% over 24 hours. The gap reflects the continued slide rather than a conflict between sources.
CoinDesk reported that some analysts see MSCI's decision as a possible constraint on Strategy's bitcoin purchases. Only its headline and summary were available, so the reasoning behind that view is not known. The Block's newsletter carries the Nvidia link to Bitcoin's drop, but its summary does not explain the mechanism.
What to watch before and after Nov. 30
The first open question is how much forced selling actually appears around the Nov. 30 close. JPMorgan's estimate and Strategy's 3.1% figure point to very different scales, and the real outcome will show which framing was closer.
The second is whether Strategy's ability to keep buying bitcoin changes, as CoinDesk's analysts suggest. Holders can check the company's regular disclosures for any change in purchase activity. Metaplanet's removal is named in The Block's newsletter, but the details were not available.
The third is whether Nvidia's leadership turmoil keeps weighing on broader risk assets. The investigation is still underway, and the Hugging Face deal still needs regulatory clearance. Neither outlet establishes a lasting effect on crypto.
Market snapshot
| Asset | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
| Bitcoin (BTC) | $69,074 | -6.0% | -8.7% | $1.39 trillion |
CoinGecko data as of 2026-11-13 (UTC).
FAQ
When will Strategy be removed from MSCI indexes?
Cointelegraph reported that MSCI confirmed Strategy's removal from its worldwide equity benchmarks, effective once trading ends on Nov. 30. The Block reported that Metaplanet will also lose MSCI index membership on that date.
How much selling could the MSCI removal cause?
An earlier JPMorgan projection put the selling pressure from the exclusion at about $2.8 billion. Strategy has said MSCI-linked funds held approximately 13 million of its shares, or 3.1% of its basic shares outstanding.
Why did Nvidia's CEO change matter to crypto?
Decrypt reported that crypto figures such as Changpeng Zhao and Erik Voorhees criticised Huang's exit, and some tied the debate to open-source AI. The Block's newsletter linked the move to Bitcoin's 12-week low, though the mechanism is not explained.
Sources
- The Block: Bitcoin falls to 12-week low, Strategy and Metaplanet to lose MSCI index membership, and more (2026-11-13)
- Cointelegraph: Strategy stock sheds 5% amid MSCI index removal, Bitcoin sell-off (2026-11-12)
- Decrypt: 'A Massive Mistake': Tech, AI and Crypto Founders React to Jensen Huang’s Nvidia Exit (2026-11-12)
- CoinDesk: MSCI is dropping Strategy from its index, and the exclusion could hit its bitcoin-buying machine (2026-11-12)
- CoinGecko (market data)
Written by the Coinvote news desk from reporting by The Block, Cointelegraph, Decrypt and CoinDesk. Not financial advice.
