Crypto · $BTC/USD
Bitcoin Slips Below $72,000 to Its Lowest Since Mid-August as ETF Outflows Reach a Fifth Day and MSCI Drops Strategy
Image: Mohamed_hassan via Pixabay
The move erased a bullish technical signal from September, with the dollar index topping 103 and a December Fed hike widely expected.
By Emma Cruz ·
Bitcoin fell below $72,000 on Thursday, Nov. 12, its lowest level since mid-August, as U.S. spot bitcoin exchange-traded funds recorded a fifth straight day of outflows and index provider MSCI moved to remove Strategy from its global indexes, according to Bitcoin Magazine and CoinDesk [1][2].
The slide was gradual through the morning. Fortune's price page showed bitcoin at $73,208.24 at 6:30 a.m. ET, down about 1% from the same time a day earlier [3]. Bitcoin Magazine reported that it dropped to about $71,670 around 9:29 a.m. and was near $71,800 shortly afterward [1]. Later, Yahoo Finance's market blog showed bitcoin near $71,545, down 3.71% on the day and about 8% lower in November [4].
CoinDesk framed the drop as a technical setback. Bitcoin slipped below its 50-week simple moving average, near $75,153, which the outlet called a failed breakout [2]. Analysts including Galaxy Digital's Alex Thorn had read September's move above that level as the start of a new bull run, and CoinDesk said the latest decline invalidates that view [2]. Trading firm Wintermute pointed to $68,000 as the next level lower, and said a reclaim of $80,000 would be needed to change its cautious stance, CoinDesk reported [2].
Fund flows remain a drag. Spot bitcoin ETFs lost $299.8 million on Wednesday, their fifth consecutive day of net outflows, and the five-day total came to about $1.44 billion, Bitcoin Magazine reported [1]. A separate Coinspeaker report published by Yahoo Finance gave the same Wednesday figure [5]. CoinDesk described the outflows as a sign of weak institutional demand [2].
The MSCI decision hit Strategy, the largest corporate holder of bitcoin. Bitcoin Magazine said MSCI removed the company from its USA Index, which also takes it out of the MSCI World and ACWI indexes, effective at the close on Nov. 30, and that Strategy shares fell about 7% at the open [1]. Coinspeaker said MSCI described the company as looking "more like an investment fund holding Bitcoin" than an operating business [5]. Index funds would sell Strategy stock, not bitcoin, and nothing requires the company to sell its coins, Bitcoin Magazine noted [1]. Marex told CoinDesk that Strategy holds 850,364 bitcoin and has reported no sales, arguing that the near-term pressure falls on the stock's liquidity rather than triggering an automatic bitcoin sale [2].
Macro conditions are not helping. CoinDesk said the U.S. dollar index briefly topped 103, its highest since March 2025, and that markets view a Federal Reserve rate increase in December as "pretty much baked in" [2]. Yahoo Finance reported that the 10-year Treasury yield rose to about 5.10% and that Nvidia's chief executive had resigned, a development that weighed on technology shares [4]. Coinspeaker noted that bitcoin has traded closely with tech stocks this year [5].
What to watch: Joel Kruger of LMAX Group told CoinDesk that Fed commentary and Friday's U.S. producer price inflation report are the next tests, and he also flagged the Iran conflict's effect on oil prices [2]. Traders will also watch whether ETF flows turn positive, whether bitcoin holds the $68,000 area that Wintermute highlighted, and how Strategy's stock trades ahead of the Nov. 30 index change [1][2].
Sources:
[1] Bitcoin Magazine, "Bitcoin Price Falls Below $72,000 As Nvidia CEO Jensen Huang Steps Down And Strategy (MSTR) Slides", November 12, 2026. https://bitcoinmagazine.com/markets/bitcoin-price-falls-below-72000
[2] CoinDesk, "Bitcoin (BTC) price weakness erases September's bullish signal: Crypto Daybook Americas", November 12, 2026. https://www.coindesk.com/daybook-us/2026/11/12/bitcoin-weakness-erases-september-s-bullish-signal
[3] Fortune, "Current price of Bitcoin for November 12, 2026", November 12, 2026. https://fortune.com/article/price-of-bitcoin-11-12-2026/
[4] Yahoo Finance, "Stock market today: Dow, S&P 500, Nasdaq slip as Nvidia stock falls on CEO exit, bond yields rise", November 12, 2026. https://finance.yahoo.com/markets/live/stock-market-today-thursday-november-12-sp-500-nasdaq-dow-nvidia-invest-110027430.html
[5] Coinspeaker (via Yahoo Finance), "Bitcoin Price Slides Toward $73K as Nvidia Plunges 9% and MSCI Drops Saylor's Strategy", November 12, 2026. https://finance.yahoo.com/markets/crypto/articles/bitcoin-price-slides-toward-73k-104044000.html
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.