Bitcoin stabilizes above $92,000 after AI-driven crypto selloff.
Bitcoin is up modestly by around 0.5% near $92,500 after yesterday’s drop below $90,000, which Reuters tied to AI profitability worries following weak Oracle guidance and broader risk-off sentiment. Banks like Standard Chartered have also tempered upside forecasts, saying future gains hinge more on ETF flows as corporate treasury buying wanes.
Gold extends Fed-driven breakout toward record territory
Gold is up about 1% around $4,275/oz, near October’s all-time highs, as traders lean into the Fed’s third rate cut and a new $40 billion/month T‑bill purchase program that weakens the dollar. Softer US labor data and rising odds of further easing in 2026 are underpinning safe-haven and anti‑dollar demand.
Today was weird trading. AI-related names, including semiconductors, got wrecked in the morning, but many managed to rally into the close; most closed red though. Evidently, they weren’t finished selling AI names.
The Russell 2000 and the Dow hit all-time highs, but Nazzy has been heavy on AI concerns. ORCL had horrible earnings, which played a significant role in bringing the whole sector down. ORCL has considerable debt and needs even more capital to finance future AI and data center investments. So the group got hit.
I re-added MSFU (2X MSFT) and GLXY as a new long.