Stock Track | Circle Internet Corp. Plummets 5.12% as Bitcoin Dips Below $90,000, Sparking Crypto Market Jitters

Stock Track12-11

Circle Internet Corp. (CRCL) saw its shares plummet by 5.12% during intraday trading on Thursday, mirroring a broader decline in crypto-related stocks as Bitcoin fell below the $90,000 threshold.

The drop in CRCL's stock price was part of a wider sell-off in the crypto sector, driven by renewed market jitters and concerns about artificial intelligence profits. Risk sentiment turned sour after U.S. cloud firm Oracle's disappointing profit and revenue outlook, which highlighted higher spending and slower-than-expected returns on AI infrastructure investments.

Bitcoin was last down 2.5% at $90,056.24, while ether tumbled 4.3%, erasing gains from the previous two days. The weakness extended from the U.S. trading session on Wednesday following the Federal Reserve's interest rate cut, further dampening investor confidence in crypto assets.

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