Bitcoin fell below $90,000 on Thursday as concerns about artificial intelligence profitability weighed on technology stocks. The decline came after U.S. cloud firm Oracle missed profit and revenue forecasts.
Bitcoin (BTC) Price
Bitcoin was down 2.5% at $90,056.24. Ether dropped 4.3% to $3,196.62. The losses erased two days of gains and extended weakness that started Wednesday after the Federal Reserve’s interest rate decision.
The Federal Reserve cut its fed funds rate by 25 basis points on Wednesday. The central bank signaled it would take a cautious approach to future rate cuts.
Bitcoin experienced wild swings during Fed Chair Jerome Powell’s press conference. The cryptocurrency spiked above $94,000 when Powell discussed potential labor market weakness. It then retreated to $92,000 after he said inflation remains a concern.
Bitcoin was trading around $92,000 for most of Wednesday. The price jumped to $94,400 during Powell’s comments about labor market risks. The gains disappeared after Powell warned that the fight against high inflation continues.
Recently, Bitcoin fell to $92,000, down 0.8% over 24 hours. Ether showed relative strength, wobbling above $3,300 and rising 1.1% during the same period.
U.S. stocks posted gains before the close of trading. The Nasdaq rose 0.5% and the S&P 500 gained 0.7%. The dollar fell 0.6% against the yen, euro, and pound.
E-Mini S&P 500 Dec 25 (ES=F)
Powell said Fed policy is now within a range of plausible estimates of neutral. He stated the central bank is well positioned to determine the timing of additional adjustments.
Powell acknowledged a great deal of data will arrive before the Fed’s January meeting. This information will influence how the central bank moves forward.
Two FOMC members voted against the rate cut. This showed the decision was a close call complicated by incomplete data.
The New York Fed announced it will purchase short-term Treasury bills starting Friday. The purchases will target around $40 billion over the next month. This step aims to ease financial conditions without starting full quantitative easing.
Standard Chartered lowered its Bitcoin price forecast on Tuesday. The bank now expects Bitcoin to reach $100,000 by the end of 2025 instead of $200,000.
Geoff Kendrick from Standard Chartered said buying by Bitcoin digital asset treasury companies is likely over. He stated future Bitcoin price increases will be driven mainly by ETF buying.
Tony Sycamore from IG said the crypto space needs more convincing evidence that the October 10 selloff is complete. He said at this point it doesn’t look like that evidence exists.
Brian Coulton from Fitch Ratings said the relatively mild pickup in core inflation probably swayed the committee to cut rates. He expects just two more cuts by June 2026, taking the fed funds rate to 3.25%.
David Hernandez from 21Shares said Bitcoin needs fresh momentum to overpower concentrated short pressure at the $94,500 resistance zone. He noted this is where Wednesday’s burst higher hit a ceiling.
Oracle’s weak outlook raised fresh concerns about AI infrastructure spending. The company’s executives flagged higher spending as a sign AI outlays are not turning profits as quickly as hoped.
The post Bitcoin (BTC) Price: Drops Below $90,000 After Fed Rate Cut and Oracle AI Concerns appeared first on CoinCentral.


Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more
