Crypto Shares Drop as Bitcoin Dips Below $90,000. American Bitcoin Down over 5%; SBET, Robinhood Down About 4%; Circle, BitMine Down About 3%

Tiger Newspress12-11

Crypto shares dropped as bitcoin fell below $90,000. American Bitcoin down over 5%; SBET, Robinhood down about 4%; Circle, BitMine down about 3%.

Cryptocurrencies tumbled on Thursday and bitcoin fell back below the $90,000 threshold in a renewed signal of market jitters as fresh concerns about artificial intelligence profits weighed on technology stocks.

Risk sentiment turned sour after U.S. cloud firm Oracle's profit and revenue outlook missed forecasts and executives flagged higher spending - a sign AI infrastructure outlays are not turning profits as quickly as investors had hoped.

Bitcoin was last down 2.5% at $90,056.24, while ether tumbled 4.3% to $3,196.62, erasing the past two days of gains, extending weakness that began in the U.S. trading session on Wednesday after the Federal Reserve cut interest rates.

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