Technology stocks plunged on the U.S. stock market, sending major virtual assets lower across the board. News of setbacks in Oracle's large-scale artificial intelligence (AI) data center investment appears to have fueled a broader aversion to risk assets.
As of 8:20 a.m. on the 18th, on global coin price-tracking site CoinMarketCap, bitcoin was trading at $86,133, down 1.77% from the previous day.
Ethereum was trading at $2,824, down 4.25%. Binance Coin (BNB) was also down 3.54% at $841, and Ripple (XRP) was down 3.27% at $1.86.
Virtual assets weakened that day following a steep decline in New York tech stocks. Reports that a key investor exited Oracle's large-scale AI data center project heightened concerns about overinvestment and profitability in AI, sparking selling across risk assets.