Bitcoin Rebounds as OpenAI Revenue Estimate Falls Short
Bitcoin dropped to about $80,940 before recovering toward $82,000 as oil prices and geopolitical tensions eased. OpenAI reportedly told investors its annualized revenue was near $50 billion for September, roughly $20 billion below a previously cited $70 billion figure. The article links pressure on risk assets to expensive oil, high bond yields, and heavy AI spending.
Bitcoin touched roughly $80,940, its weakest since Sept. 21, then climbed back near $82,000. The $82,500 level failed earlier as oil strengthened. After Donald Trump said the U.S. would not strike Iran before November’s elections and mentioned productive talks, Brent slipped about 1.3% to $102.91 and WTI about 1.2% to $90.40.
U.S. spot Bitcoin ETFs saw $484.9 million leave Wednesday, the biggest daily outflow since June. BlackRock, Fidelity and ARK 21Shares accounted for over $414 million. That erased early October’s $321.6 million gain, though September still drew about $2.65 billion. Meanwhile, 30-year Treasury yields hit 5.73%, a roughly 24-year high, and 10-year yields exceeded 5.3%.
Bitcoin’s swing and OpenAI’s lower revenue estimate could reinforce caution across risk markets. Retail crypto holders may see sharper paper losses or gains, while funds and pensions with ETF exposure could face more volatility. If AI firms encounter tighter funding, hiring, research and consumer services may slow. Higher oil and bond yields could also keep borrowing costs elevated for households and businesses, though the ultimate social effect remains uncertain and depends on how long these pressures last.