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AI costs pressure stocks; Bitcoin gains as gold ETFs see major outflows in October

02 Nov 2026, 12:00 WIB
AMBCrypto
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Neutral
AI costs pressure stocks; Bitcoin gains as gold ETFs see major outflows in October

Rising costs in the AI sector have led to disappointing Q3 earnings for Amazon, raising concerns about the returns on massive AI investments. This uncertainty, combined with a significant drop in tech stocks and looming U.S. midterm elections, is causing investors to reconsider traditional safe havens. In October, gold ETFs experienced $1.8 billion in outflows, while Bitcoin ETFs saw a smaller $515 million outflow, highlighting Bitcoin's growing appeal as a macro hedge amid market volatility. Upcoming earnings reports from Apple and Palantir will be closely watched for further market direction.

Regarding Bitcoin's potential to outperform gold amid AI spending concerns, here is Pluang's market snapshot as of Nov 02, 2026 16:21 WIB: Among 50 major cryptocurrencies priced on Pluang, 7 rose and 42 fell today. Notable movers include EOS (EOS.IO) with a price of Rp12.649 and a 1-day change of +8.13%, BAT (Basic Attention Token) at Rp2.396 down 5.75%, and GRT (The Graph) at Rp356 down 4.59%.

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