Bitcoin Slips Under $100K, Gold Back on the Radar 05/11/2025

HOT stories for today

Market wrap:

• U.S. equities retreated Tuesday, led by declines in artificial-intelligence-related names, as investors grew more cautious amid stretched valuations. The S&P 500 fell 1.17% to 6,771.55, the Nasdaq Composite lost 2.04% to 23,348.64, and the Dow Jones Industrial Average slipped 0.53% to 47,085.24. Palantir dropped about 8% despite topping earnings estimates and raising guidance on AI-driven demand, as sentiment weakened following cautionary remarks from hedge fund manager Michael Burry. Morgan Stanley’s Ted Pick said systemic risk remains low but a 10–15% pullback is plausible, while Goldman Sachs’ James Solomon noted tech multiples look “full.” However, such corrections are typical in prolonged bull markets.
• Japan’s Nikkei 225 fell more than 4% as Asia-Pacific markets also sold off on concerns that the AI trade has overheated. The U.S. government shutdown has now tied the record length and may extend into late November. Bitcoin slipped below $100,000, the Nasdaq 100 dropped around 2%, Tesla fell after Norges Bank said it would vote against Elon Musk’s proposed $1 trillion compensation plan, and AMD slid 3.5% in late trading amid profit-taking in semiconductor leaders.

Bitcoin Slips Under $100K; Gold Back on the Radar

• Bitcoin slid below $100,000 on Tuesday for the first time in more than four months as investors pulled back from risk assets tied to the artificial-intelligence trade, raising concerns that valuations in both crypto and equities have run ahead of fundamentals. The token dropped as much as 5% to $99,966 before paring losses to around $100,893, while Ether fell nearly 9% to $3,275. Analysts said crypto and AI-linked stocks continue to trade in tandem, with weakness in names like Palantir,  down despite solid earnings,  spilling into digital assets as the Nasdaq Composite declined more than 1%.
• “The market is exhausted,” said Haonan Li of Codex, noting that strong on-chain metrics are failing to attract new buyers. Compass Point’s Ed Engel added that retail spot demand remains weaker than in prior cycles, leaving Bitcoin vulnerable to further downside if short-term holders capitulate, with support seen near $95,000 and few near-term catalysts. The pullback comes as October’s historically positive seasonality failed to materialize, echoing 2018, when Bitcoin subsequently plunged 37% in November. With risk sentiment deteriorating, some traders are watching for renewed rotation into gold, which could re-enter focus if prices reverse toward the $4,000 level.

Stocks on the move:
 

• AMD (AMD): Fell 1% after Amazon (AMZN) disclosed it exited its stake in the third quarter. AMD still beat expectations with adjusted earnings of $1.20 per share on $9.25 billion in revenue, above forecasts for $1.16 on $8.74 billion.
• Pinterest (PINS): Dropped 18% after posting adjusted earnings of 38 cents per share, missing the 42-cent estimate. Revenue was in line at $1.05 billion.
• Super Micro Computer (SMCI): Slid 10% after missing estimates with adjusted earnings of 35 cents per share on $5.02 billion in revenue, versus forecasts for 40 cents on $6.0 billion. Guidance also came in below expectations.
• Amgen (AMGN): Gained slightly after reporting adjusted earnings of $5.64 per share on $9.56 billion in revenue, topping analyst estimates.
• Arista Networks (ANET): Fell 10% after issuing weaker-than-expected fourth-quarter revenue guidance, despite beating third-quarter expectations.

Watchlist: AMD, SMCI, ANET, PINS, MU, UPST, LYV, NVO, MCD

Key Economic Events Today:

EST time

08:15 am: USD ADP Non-Farm Employment Change
09:45 am: USD Final Services PMI
10:00 am: USD ISM Services PMI
01:00 pm: President Trump Speaks



Earnings

BMO (Before Market Open): Novo Nordisk (NVO), McDonald’s (MCD
AMC (After Market Close): Applovin (APP), Qualcomm (QCOM), Arm Holdings (ARM), DoorDash (DASH)


The TEFS Analyst team wishes you a successful day!