$1.1B Liquidated from Crypto Markets As Nvidia CEO Scandal Sparks Volatility

Global markets are once again in shaky territory, with the alleged extra-marital affair of NVIDIA CEO Jensen Huang sowing seeds of uncertainty across all assets.

$NVDA’s 5% pre-market decline dragged wider tech stocks down across the board. In crypto markets, the selloff triggered cascading liquidations, wiping out $1.14B in leveraged positions.

Meanwhile, Solana’s weekly DEX volume has dropped to its lowest level since mid-August, with onchain traders hesitant to dive back into markets in the wake of the sustained downtrend.

$BTC Tumbles to $73k Amidst Mass Liquidations

Q4 2026 has not been kind to crypto markets. After a strong Q3, which saw $BTC climb from lows of $57,700 to highs of $87,700, crypto markets backpedalled in October, with the bearish trend continuing in November. Uncertainty was exacerbated further this weekend, when news that Jensen Huang’s affair with a CCP spy triggered a debilitating selloff in tech stocks.

As $NVDA plunged over 5% in pre-market trading and erased ~$200B from its market cap, $BTC and other crypto majors were also washed out by the tide. $BTC plummeted 3.10%, dropping as low as $73,300, triggering $1.14B in liquidations across the broader crypto market.

$ETH was hit particularly hard, suffering over $502M in liquidations as crypto’s leading Layer-1 by market cap tumbled 6%, falling to its lowest point since August 19.

The move pushes crypto sentiment even further into the gutter, with market participants once again expressing frustration and disillusionment towards the industry as a whole. Critics argue that between debilitating DeFi hacks and extractive memecoin activity, crypto is rapidly becoming an unattractive field for allocating capital and time. CMC’s Fear and Greed has consequently slipped closer and closer to extreme fear, returning to levels not seen since the lows of Q2.

$SOL ETFs Stare Down 6 Straight Weeks of Outflows

Compounding concerns over the crypto market’s longevity, institutional allocators appear to be having doubts over the valuations of certain assets. After an incredibly strong year, spot $SOL ETFs are facing six straight weeks of capital outflows, a dramatic turnaround after recording 14 consecutive weeks of net inflows.

Bitcoin hasn’t fared much better. According to Sosovalue data, spot $BTC ETFs suffered -$1.28B in capital outflows last week, their worst week since late June. But while some critics could argue that ETF outflows suggest institutional investors are losing faith in the wake of the U.S. midterms, Bitwise CIO Matt Hougan argues that the industry is simply maturing.

Hougan asserts that crypto majors, including assets like $SOL, are “doing fine” in the face of political unrest.

Onchain Trading Volume Winds Down

Amidst falling asset prices and growing uncertainty amongst market participants, the DeFi economy continues to cool off. Q3’s rampant speculation and social trading boom has almost completely wound down, with onchain trading activity slumping to levels not seen since mid-August.

Within Solana specifically, short-term sentiment may improve off the back of the network’s flagship conference, Solana Breakpoint. Hosted in London on the 16th & 17th of November, Solana Breakpoint brings together builders, investors, and regulators from all corners of the industry in one place. 

These events often coincide with critical announcements that accelerate the growth and adoption of the network, giving the Solana community plenty to look forward to in the coming weeks.

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