Bitcoin fell below $90,000 on Thursday as renewed concerns over artificial intelligence‑related profits weighed on global technology stocks and spilled into the cryptocurrency market.
The world’s largest cryptocurrency was last down 2.5% at $90,056.24, while ether dropped 4.3% to $3,196.62, wiping out gains made earlier in the week. The downturn extended a slide that began on Wednesday after the U.S. Federal Reserve cut interest rates, triggering volatility across risk assets.
Market sentiment worsened after U.S. executives signalled rising costs in the AI sector, particularly following cloud‑computing giant Oracle’s weaker‑than‑expected profit and revenue outlook. The update fuelled concerns that heavy investment in AI infrastructure is not yet translating into the returns investors anticipated.
The broader crypto market also declined, with several major tokens trading lower in tandem with tech stocks.
Adding to the pressure, Standard Chartered this week halved its year‑end 2025 Bitcoin forecast, cutting its projection from $200,000 to $100,000 amid shifting market conditions.
