STORY: Bitcoin fell below $90,000 on Thursday (December 11) and dragged other cryptocurrencies down with it.
The fall followed fresh market worries about AI profits.
Risk appetite fell after U.S. cloud firm Oracle's profit and revenue outlook came in below forecasts the day before, and the firm said it expected higher spending.
Investors took that as a sign AI infrastructure outlays aren't turning profits as fast as they hoped.
Bitcoin did rise back just above the $90,000 mark by morning in Europe, but remained down around 2% on the day.
The moves undid two days of gains and showed further weakness that began in the U.S. trading session on Wednesday after the Federal Reserve cut interest rates.
Thursday's decline came days after Standard Chartered slashed its expectations for bitcoin.
The lender had projected the crypto token to hit $200,000 by the end of this year, but has now lowered its forecast to $100,000.
