Evening digest: AMD’s crash, US-Iran tensions, Bitcoin may slump to $66K level
Markets are ending the day on edge as sharp moves ripple across stocks, commodities, and crypto.
AMD slumped despite an earnings beat, underscoring how unforgiving investors have become around AI expectations.
Oil prices jumped as US–Iran tensions flared back into focus, while gold and silver staged a violent rebound after last week’s washout.
In crypto, bitcoin slid deeper into correction territory, with traders eyeing key support levels amid heavy liquidations.
AMD stock crashes despite earnings beat
AMD CEO Lisa Su moved to calm nerves after the chipmaker’s shares slumped, insisting AI demand is running far hotter than its latest outlook suggests.
Speaking to CNBC a day after AMD beat fourth‑quarter estimates but issued what investors saw as cautious guidance, Su said orders for data‑center chips and CPUs have “exploded” over the past two to three months.
AMD forecast first‑quarter revenue of about 9.8 billion dollars, slightly above Wall Street’s consensus, but below the hype that had built around AI.
Su argued the company is still early in a multi‑year growth cycle as new AI systems ramp up.
Oil prices soar on US-Iran tensions
Oil prices jumped on Wednesday after a report said planned US-Iran nuclear talks were on the verge of collapsing, reigniting fears of supply disruptions in the Middle East.
US West Texas Intermediate crude climbed about 3% to trade near 65 dollars a barrel, while Brent pushed toward 69 dollars.
The move reversed Monday’s pullback, when hopes of negotiations had briefly eased tension premiums.
The Axios report said Washington and Tehran were deadlocked over the venue and format of this week’s meeting, just days after the US military shot down an Iranian drone near a US aircraft carrier.
Gold, silver extend rebound
Gold and silver extended their dramatic rebound on Wednesday as bargain hunters and short‑covering piled in after last week’s crash, but traders are still bracing for wild swings.
Spot gold jumped more than 2% to trade back above 5,000 dollars an ounce, while silver rallied nearly 6% toward the 90‑dollar mark, clawing back a chunk of Friday’s 30% plunge.
Analysts say the move looks more like a technical snapback than the start of a fresh vertical leg higher.
With the dollar, bond yields, and Fed expectations all in flux, few expect the recent, nerve‑shredding volatility to disappear quickly.
Bitcoin looks at the $66,000 support level
Bitcoin is back under pressure after a sharp 19% slide over the past month, dropping from a local peak near $95,000 to about $75,000.
That level is crucial support, but leverage is still unwinding.
CoinGlass data show more than $6 billion of positions have been liquidated in recent days, including a single-session hit of $2.4 billion in longs on January 30.
Futures open interest has climbed even as prices fell, pointing to increasingly one‑sided bearish bets.
If $75,000 gives way, chart watchers flag $66,000 as the next obvious downside target before any durable bottom can form.
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