Bitcoin Falls to $76k as Fed Holds Rates AI Cloud Gains
SkimNews Take
Broader market volatility from geopolitical events and traditional tech earnings can overshadow crypto-specific news, influencing Bitcoin's price even when the Fed's actions are predictable.
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- Jerome Powell announced the Fed will stay on the Board past May 15 amid Trump‑era investigations, and the FOMC voted 8‑4 to keep rates at 3.5‑3.75%.
- Bitcoin slipped to $76,000, a 2% drop, after the Fed’s decision and amid Iran‑related supply shocks that have disrupted shipping in the Strait of Hormuz.
- Alphabet reported Google Cloud revenue of $20.1 billion, up 63% YoY, and said enterprise AI solutions became its primary cloud growth driver for the first time.
- Amazon posted AWS revenue of $37.59 billion, up 28% YoY, and confirmed an AI revenue run rate above $15 billion for the first time.
- Microsoft saw Azure revenue rise 40% YoY, bolstering its cloud earnings alongside Google and Amazon.
- Meta raised its 2026 capex by $10 billion, beat revenue expectations, but its shares fell 6‑7% after hours, blaming “internet disruptions in Iran” for weaker user growth.
- MegaETH launched its MEGA token, achieving a fully‑diluted valuation exceeding $2 billion on debut.
- Sky posted its best quarterly performance yet, though its token price continued to slide.
Why it matters: Investors lose as Bitcoin slides 2% to $76k, while AI‑cloud firms gain revenue growth; Meta’s stock drops 6‑7% after Iran‑related outages, hurting creator payouts on USDC.
