Bitcoin fell below 90,000 dollars on Thursday as renewed concerns over artificial intelligence profits pressured technology stocks and triggered a wider selloff in cryptocurrencies. The digital asset dropped 2.5 percent to 90,056 dollars, while ether fell 4.3 percent to 3,196 dollars.
The decline followed weakness in the United States trading session on Wednesday after the Federal Reserve announced another interest rate cut. Other major cryptocurrencies also slipped, erasing gains recorded earlier in the week.
Market analysts noted that U.S. technology executives reported rising spending levels after Oracle’s profit and revenue outlook missed expectations, indicating that investments in AI infrastructure were not yet producing the returns investors anticipated.
Also Read: FCCPC Seals Ikeja Electric Over Alleged Consumer Rights Violations
Standard Chartered on Tuesday lowered its year-end 2025 Bitcoin forecast from 200,000 dollars to 100,000 dollars, citing recent market developments.
Leave feedback about this
You must be logged in to post a comment.