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Produced by Daniel Aharonoff & Mogul Media AI

Ethereum Crashes Below $2,000 as Nvidia Shock Hits Crypto

Ethereum Just Lost $2,000 — And the Dip Buyers Are Betting on Something Bigger Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I've watched Ethereum test the $2,000 line plenty of times. Usually it holds. Usually the buyers show up, the line bends, and the story ends with a bounce. Today was different. Ethereum didn't just test $2,000 — it lost it, falling to $1,996.52 in early U.S. trading on Thursday, November 12, 2026, its first trade below the psychological line since August 19. Some data feeds put the intraday low even lower, at $1,983.82. And here's the twist that makes this more than just another red day: the trigger didn't come from crypto at all. It came from Nvidia. The chip giant's CEO, Jensen Huang, resigned, AI stocks sold off hard, and Ethereum — the asset Wall Street keeps insisting is the "AI blockchain" — got dragged down with them. So now the market is split in a way I haven't seen in weeks. On one...
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Produced by Daniel Aharonoff & Mogul Media AI

Cryptocurrency Market Review: Bitcoin's Plunge and Market Impact

Bitcoin experienced a significant decline in value this week after digital asset fund manager Grayscale initiated a sell-off, causing the largest cryptocurrency by market cap to drop below $40,000 to $38,678 on Tuesday. However, Bitcoin has since shown signs of recovery, currently trading at $41,830 according to CoinGecko data. The sell-off by Grayscale, which previously operated as a closed-end fund, led investors to quickly cash out their shares following the conversion to a Bitcoin ETF. This rush to redeem shares resulted in Grayscale sending large amounts of the cryptocurrency to its custodian, Coinbase, putting pressure on Bitcoin's price. Fortunately, Grayscale's sell-off slowed towards the end of the week, contributing to the rebound in Bitcoin's price.

Bitcoin's Recovery and Future Prospects

  • Bitcoin dropped below $40,000 following Grayscale's sell-off, hitting $38,678 on Tuesday.
  • The cryptocurrency has recovered and is now trading at $41,830, showing a less than 1% movement over seven days.
  • Analysts suggest that Bitcoin may see increased appeal in 2024 if the Federal Reserve reduces interest rates.

The broader cryptocurrency market was not immune to Bitcoin's plunge, with Ethereum (ETH) also taking a hit. Ethereum dropped to $2,186 on Tuesday and failed to fully recover, marking an 8% loss over the week. Currently, Ethereum is trading at $2,264 after the U.S. Securities and Exchange Commission's decision to postpone ETH ETF proposals from BlackRock and Grayscale.

Market Performance of Other Cryptocurrencies

  • Solana (SOL) started the week as one of the worst-performing cryptocurrencies but has since rebounded, now trading at $92.60, reflecting a more than 1% increase over seven days.
  • Dogecoin (DOGE), the original meme coin and 11th largest cryptocurrency, initially surged on speculation of Twitter payments but returned to its starting price of $0.08 by the end of the week.

Bitcoin's price fluctuations and the subsequent impact on the wider cryptocurrency market highlight the volatility and interconnected nature of the digital asset space. As investors navigate through these ups and downs, staying informed about market trends and developments remains crucial for making informed decisions in the ever-evolving world of cryptocurrencies.

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