Bitcoin falls below $90,000

Today, the cryptocurrency Bitcoin fell below $90,000 in a new indication of the tension prevailing in the market, with technology stocks affected by concerns about artificial intelligence profits. Risk appetite declined after the US company Oracle’s profit and revenue forecasts fell short of analysts’ estimates, and executives pointed to higher spending – an indication that artificial intelligence infrastructure expenditures are not generating profits as quickly as investors had hoped.

In the latest trading, Bitcoin fell 2.5 percent to $90,056.24, while Ether fell 4.3 percent to $3,196.62, giving up the gains of the past two days and continuing the decline that began in the US trading session yesterday, after the Federal Reserve (the US central bank) lowered interest rates.

“What we saw last night is that even though risk assets were doing well,” cryptocurrencies didn’t really care, said Tony Sycamore, a market analyst at IG in Sydney.

He added, “The field of digital currencies needs to see more convincing evidence that the decline we witnessed from the sell-off on October 10 has ended.”