Bitcoin Struggles to Recover After Tech Appetite Wanes — Market Talk
Bitcoin rises slightly but remains below the key $90,000 level as it struggles to recover meaningfully after hitting a near two-week low overnight. The cryptocurrency has been hit by a rotation away from artificial intelligence-related stocks after results from Oracle and Broadcom last week failed to meet lofty expectations. Waning appetite for tech stocks offset the positive impact of expectations for further interest-rate cuts after the Federal Reserve's rate reduction last week. Earnings from Micron Technology on Wednesday will be key for tech stocks and bitcoin. Bitcoin rises 1.4% to $89,682 after reaching a low of $87,621, LSEG data show.([email protected])