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Analyst: Oracle's earnings reignite AI bubble concerns, Bitcoin and Nasdaq futures both decline
December 11, CoinDesk analyst James Van Straten wrote that despite the Federal Reserve cutting interest rates by 25 basis points, risk assets remain under pressure, mainly due to Oracle’s earnings report falling short of expectations and the hawkish guidance issued by the Federal Reserve. Bitcoin is currently around $90,000, down 2.8% over 24 hours, with futures linked to the Nasdaq, the Wall Street tech stock index, down 0.80%. On Wednesday evening, Oracle announced its second-quarter fiscal year 2026 earnings report ending November 30, 2025, with total revenue slightly below market consensus, including a decline in traditional software revenue and particularly weak new license sales. This once again highlights the gap between the debt-driven AI infrastructure spending frenzy and the reality of deferred cash flows promised by revenue.