Bitcoin fell below the $90.000 psychological level in late 2025, dropping to about $78.329,8 in a single session and erasing roughly 7% of its value after a sudden reassessment of AI-sector prospects rattled global risk appetite.
The sell-off began after Oracle on 11 de dic. de 2025 issued a profit and revenue outlook that missed forecasts and flagged higher AI infrastructure spending, which investors took as evidence that AI investments may not deliver near-term returns. Broadcom fell about 10% the same day, amplifying concern across the tech-heavy Nasdaq, which slid over 2% and sparked a broader “risk-off” reaction.
That risk aversion transmitted quickly to crypto markets. Ether declined about 4,3% to $3.196,62, while public crypto firms suffered steep drops: Coinbase shares fell 5,8% and Bitfarms lost 6,6%; MicroStrategy also posted sharp declines. The combined move erased an estimated $130.000 billion of market value across affected sectors, according to market tallies cited in the coverage. Institutional and retail traders reacted by reducing exposure to speculative assets, pressuring both coins and crypto equities.
Technicals, macro crosscurrents and positioning
Technicals added momentum to the decline. Chartists noted a death cross in November–December 2025, a bearish pattern in which the 50-day moving average crosses below the 200-day moving average; such crosses often precede extended corrections. Momentum indicators, including the Stochastic RSI — a measure comparing a security’s closing price to its price range over time — had signalled overbought conditions before the drop. Bitcoin breached successive supports at $90.000, $88.000 and then $85.000, each break triggering stop orders and automated selling.
Macro factors intensified stress. Rising Japanese yields reduced global liquidity and, together with renewed tariff concerns and a divided Federal Reserve stance on rate cuts, curbed investor willingness to hold volatile positions. The combination of technical breakdowns and tightening macro conditions lent the episode a cascading character, increasing the likelihood of forced deleveraging among leveraged traders.
The episode highlighted an emergent coupling of AI equity valuations and crypto prices, raising warnings of a potential “triple bubble” involving AI, crypto and broad market overvaluation. Forecasts cited in the market ranged widely: Standard Chartered had revised a near-term Bitcoin target to $100.000 (down from a prior $200.000), while other scenarios projected deeper corrections to roughly $74.000 or below $50.000 by 2026. These divergent outcomes reflect polarized positioning and elevated uncertainty.
