From Coinpedia · By Rizwan Ansari
Story HighlightsCrypto market cap has fallen from $3.04 trillion to nearly $2.48 trillion since September 22, erasing over $560 billion.
Nvidia shares plunged 8% after Jensen Huang’s resignation added pressure to markets.
Bitcoin dropped below $72K, Ethereum fell 16%, while XRP dropped 22% and Solana declined 15% this week.
The crypto market has lost roughly $560 billion since September 22, wiping out nearly 20% of its value. The sell-off has now spread from U.S. stocks into crypto, with the Nasdaq crash and Jensen Huang’s resignation from Nvidia triggering Nvidia shares to fall 8%.
Advertisement Meanwhile, Bitcoin dropped below $72,000 as crypto liquidations hit $750 million in 24 hours.
Why Has the Crypto Market Lost $560 Billion?
The total crypto market cap has fallen from around $3.04 trillion on September 22 to nearly $2.48 trillion as several factors have put pressure on the market.
The latest sell-off picked up on November 12 after Jensen Huang resigned as Nvidia CEO following an internal investigation into two alleged affairs. One involved an executive suspected by U.S. intelligence of being a Chinese spy. The news triggered an 8% drop in Nvidia shares and other AI-linked stocks. Colette Kress is set to replace Huang as interim CEO.
U.S. stocks have also added to the pressure. On November 5, the Nasdaq-100 dropped 8%, while major crypto indexes fell 5.25%. Weakness in technology and AI stocks also spread to crypto-linked companies and Bitcoin miners.
Bitcoin then fell below $76,000 as October inflation came in at 0.4%, above the 0.3% forecast. This raised expectations of a 25-basis-point Fed rate hike in December, putting further pressure on crypto prices.
The selling had already picked up in October after oil prices jumped above $111 a barrel following attacks on tankers near the Strait of Hormuz.
Earlier, on September 24, the U.S. 10-year Treasury yield reached its highest level since 2007. This made safer investments more attractive and put further pressure on crypto.
Bitcoin Has Lost Its September Gain
Bitcoin has fallen from a mid-September high of $87,395 to below $71,635, losing nearly 18% during the slide.
The monthly returns also show a pattern worth watching. In 2025, BTC fell 4% in October, 17% in November, and 3% in December. This year, October already ended with a 7% loss. If the 2025 pattern repeats, November could see a total decline of around 20%, followed by a smaller 6–7% drop in December.
The selling has also reached retail investors. Bitcoin has lost about 108,700 non-empty wallets since reaching 59.99 million in October, while the Coinbase Premium remains negative, pointing to weaker U.S. buying demand.