Bitcoin Falls as Downbeat Oracle Results Dent Sentiment — Market Talk
Bitcoin falls as downbeat results from Oracle revived concerns about an artificial intelligence bubble. The cloud computing company reported disappointing quarterly revenue and raised its spending forecast. The results erased earlier optimism driven by the Federal Reserve's decision Wednesday to cut interest rates and signal further cuts, IG analysts say in a note. This is dragging global stock futures lower, putting pressure on European tech shares and "contributing to a broader risk-off move that also saw bitcoin fall." Bitcoin falls 2.3% to $90,222, LSEG data show. ([email protected])