Cryptocurrencies, including bitcoin, took a hit as bitcoin fell below $90,000 amidst concerns about artificial intelligence profits affecting tech stocks. U.S. cloud firm Oracle’s disappointing outlook and higher spending signaled slow AI infrastructure profits. Bitcoin dropped 2.5% to $90,056.24, while ether fell 4.3% to $3,196.62 after the Federal Reserve cut interest rates. Stocks in Asia declined, hinting at lower openings in Europe and the U.S. Standard Chartered revised its bitcoin forecast, lowering expectations of hitting $200,000 by 2025 to $100,000. Future price increases may rely on ETF buying as digital asset treasury companies may have completed their buying.

Read more at Yahoo Finance: Bitcoin dips below $90,000 as AI worries dent risk appetite