Why is Bitcoin down today? Bitcoin price hits 12-week low as MSCI drops Strategy
Bitcoin price fell to its lowest level in about 12 weeks on Thursday, November 12, as index provider MSCI confirmed it will drop Strategy from its benchmarks , spot ETF outflows stretched to a fifth day, and a slump in Nvidia shares hit risk appetite. What happened to Bitcoin today? Bitcoin (BTC) traded at $71,914, down 2.77% from Wednesday's close of $73,964, according to Yahoo Finance data. It touched about $71,237.62, below Tuesday's low of $72,687 and the lowest price since August 20. The rest of the market moved with it. Ether was at $2,012, down about 2% on the day, and XRP traded at $1.034, also roughly 2% lower. Bitcoin is now about 42% below its record daily close of $124,753, set on October 6, 2025. BTC/USD (BTC-USD) 15-minute chart | Source: Yahoo Finance Why is Bitcoin down today? The clearest crypto-specific news came after Wednesday's US close. MSCI said in its November 2026 index review that it will apply its new rule on "non-operating companies", and Strategy (MSTR) is on the deletion list for the MSCI USA, World, and ACWI indexes. The change takes effect after the close on November 30. Strategy held 850,364 BTC as of November 8, bought at an average of $75,456 per coin. That means Bitcoin is now trading below the company's average purchase price. Strategy shares were at $117 in trading, 4.3% below Wednesday's close of $122.35. Passive funds that track MSCI benchmarks will have to sell their MSTR holdings, which is expected to put pressure on MSTR's stock price. Strategy has said they hold about 13 million shares, or 3.1% of its basic shares outstanding, while JPMorgan estimated in November 2025 that exclusion could trigger about $2.8 billion of outflows, a figure based on MSCI's earlier proposal. Analysts quoted by CoinDesk said the bigger risk is to Strategy's ability to raise money for new Bitcoin purchases. Markus Thielen of 10x Research told CoinDesk the move was "widely expected" and that he did not expect "any spillover into Bitcoin itself." ETF demand is also weak. US spot Bitcoin ETFs had net outflows of $299.8 million on Wednesday, the fifth straight day of withdrawals, according to Farside Investors . The five-day total is about $1.44 billion, and BlackRock's IBIT accounted for $269.7 million of Wednesday's outflows. Tech stocks added to the pressure. Nvidia was at $164.67, down 5.21% from Wednesday's close, after the company announced the resignation of CEO Jensen Huang following reports about his alleged romantic relationships with two women Macro conditions have not helped either. The US dollar index was near 103 after hotter October inflation data lifted bets on a December Federal Reserve rate hike. What happens next for the Bitcoin price? Technical analysts are watching whether Bitcoin can recover its 50-week simple moving average, which CoinDesk put at $75,153 . A move back above that level would ease worries about a failed breakout, while a sustained drop below $72,000 would leave Bitcoin at prices it has not traded at since August. Traders will also watch daily ETF flow data, Strategy's next weekly purchase filing, and the Fed's December 8-9 meeting. Should you buy Bitcoin now? Bitcoin is under pressure from several sources at once, including ETF selling, the MSCI decision, and higher interest-rate expectations. Long-term investors may see lower prices as an entry point, but volatility is likely to stay high. If you are considering an investment, read our guide on how to buy Bitcoin before you decide. AI disclosure: AI tools assisted with research and drafting of this piece. An Invezz editor reviewed the facts, sources and wording before publication. Any opinions or analysis are Invezz’s, not those of an automated system. The post Why is Bitcoin down today? Bitcoin price hits 12-week low as MSCI drops Strategy appeared first on Invezz