Bitcoin is back at it, ticking down like a stopwatch. On Thursday, the world’s biggest crypto slid under $89,000, retreating to $88K flat on Coinbase, dragging Ether down with it.
Ether lost 4.3% to trade at $3,092, wiping out all its gains from the last two sessions. The pressure began building late Wednesday after the Federal Reserve’s interest rate cut, but things got much worse once Oracle dropped its latest financials.
Oracle’s stock collapsed 15%, with the tech giant blaming rising AI infrastructure costs and saying its profit outlook missed expectations. Markets didn’t like that… at all.
Nvidia was down 1.4% in premarket trading. Micron dipped 1%, AMD lost 1.3%, Microsoft slipped 0.4%, and Coreweave dropped 3.9%.
Strategy (MSTR) lost 2.3%, MercadoLibre (MELI) fell 5%, and Coinbase (COIN) dropped 0.82% to trade around $275.09.
Meanwhile, Robinhood (HOOD) barely budged, sitting at -0.04%. Payment giant PayPal (PYPL) was up slightly at +0.63%, and Block (XYZ) gained 2.79%.
Elsewhere in mining stocks:
- Riot Platforms (RIOT) rose 0.39%
- CleanSpark (CLSK) dropped 2.15%
- Bitfarms (BITF) lost 2.33%
- Cipher Mining (CIFR) sank 5.52%
- Bitdeer (BTDR) was down 6.06%
But the most brutal hit of the morning? Argo Blockchain (ARBK), plunging 18.62% to just $0.15, one of the sharpest drops in the entire list.
Neptune Digital Assets (NDA) was the rare outlier, surging 48.57%, while Metaplanet (MTPLF) also popped 11.9%.
Source: https://www.cryptopolitan.com/bitcoin-crashes-to-88k-yet-again/
