Bitcoin slipped under the $90,000 mark on Thursday, signaling fresh unease across cryptocurrency markets as renewed concerns over artificial intelligence profitability weighed on global tech stocks. The decline reflected a broader pullback in risk assets, with traders turning cautious after a disappointing earnings outlook from U.S. cloud giant Oracle.
The world’s largest cryptocurrency was last seen trading at $90,056, down 2.5%, while Ether tumbled more than 4.3% to $3,196, reversing gains from the past two sessions. The sudden weakness followed selling pressure that began overnight in the United States after the Federal Reserve cut interest rates.
AI Profitability Concerns Trigger Market Anxiety
Investor sentiment took a sharp negative turn after Oracle reported weaker-than-expected profit and revenue projections. Executives also warned of rising spending on AI infrastructure — a sign that massive investments in artificial intelligence may not be paying off as quickly as anticipated.
These signals sparked concerns that AI-driven revenue streams, which have fueled much of the recent tech rally, could take longer to materialize. The resulting uncertainty spilled into broader markets, pushing Asian stocks lower and dragging European and U.S. futures into the red.
Analysts Say Crypto Still Struggling for Momentum
Market experts say the cryptocurrency sector is still searching for stability following the sharp selloff seen in early October.
“What we saw last night was that even though risk assets were doing well, crypto didn’t want to participate,” said Tony Sycamore, market analyst at IG in Sydney. “The market needs stronger evidence that the October washout is truly over — and right now, that conviction just isn’t visible.”
Standard Chartered Cuts Long-Term Bitcoin Outlook
Adding to pressure on sentiment, Standard Chartered this week lowered its long-term Bitcoin forecast. The bank now expects the cryptocurrency to reach $100,000 by the end of 2025, down from its previous projection of $200,000.
Geoff Kendrick, the bank’s global head of digital asset research, said that corporate demand for holding Bitcoin on balance sheets has largely run its course.
“We think buying by Bitcoin digital asset treasury companies is likely over,” he noted, adding that ETF inflows may now serve as the primary driver of future price growth.
Outlook: Volatility Ahead as Markets Reassess AI and Risk Assets
With uncertainty swirling around AI profitability, global tech valuations, and central bank policy, analysts warn that volatility may persist. Cryptocurrencies, often seen as high-beta risk assets, could remain sensitive to shifts in macroeconomic sentiment.
For now, Bitcoin’s struggle to hold the $90,000 level underscores lingering fragility in the market — and suggests traders remain cautious about calling a bottom.