Bitcoin dips below $90,000 as AI worries dent risk appetite

Market Overview - Cryptocurrencies experienced a significant decline, with Bitcoin falling below the $90,000 mark, indicating renewed market jitters influenced by concerns over artificial intelligence profits impacting technology stocks [1][2] - Bitcoin was reported at $90,056.24, down 2.5%, while Ether dropped 4.3% to $3,196.62, reversing gains from the previous two days [2] Investor Sentiment - Risk sentiment has soured following Oracle's disappointing profit and revenue outlook, which highlighted increased spending on AI infrastructure without immediate profitability [1] - Market analysts noted that despite positive performance in risk assets, the cryptocurrency market remains hesitant, requiring more convincing evidence of recovery from the recent selloff [3] Future Projections - Standard Chartered revised its Bitcoin price forecast, lowering expectations from $200,000 to $100,000 by the end of 2025, reflecting a more cautious outlook [3] - The firm indicated that the buying activity from Bitcoin digital asset treasury companies is likely over, suggesting that future price increases will primarily depend on ETF buying [4]