The carnage continues.
Updated | 11.16.25: Bitcoin is firmly below the bellwether $100K spot price mark, today -- trading late on Sunday at $92,900 afternoon Friday US time, at about $94,200 $95,000 $98,500. That, plus the widespread belief on Wall Street that there may be no more rate cuts in 2025, and maybe not even in Q1 of 2026. . . has sucked the life out of the End-of-Shutdown euphoria, here in the US.
So Riot is seeing a double whammy -- with this looking like a new "Ice Age" for those trying to pivot out of one losing biz (Bitcoin mining) into another (AI data centers, now looking saturated -- as contract service providers are literally. . . everywhere).
Here is CoinDesk's Saturday night story on the now-arriving Ice Age:
. . .Crypto market sentiment has deteriorated sharply, with the Fear & Greed Index dropping to 10, a level indicating “extreme fear,” marking a near nine-month low as it’s the lowest reading since late February.
The plunge in sentiment follows a week of losses across major cryptocurrencies, led by bitcoin's decline to just under $96,000 in a major sell-off that, for the second time this month, saw the cryptocurrency drop below the $100,000 mark. . . .
Yikes. Now you know. Hilarious. Out.
नमस्ते
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