Bitcoin faces choppy summer amid AI stock rally

Bitcoin is expected to experience a volatile summer as investor capital shifts towards high-flying artificial intelligence stocks and upcoming tech IPOs. K33 Research notes that the opportunity cost of holding Bitcoin is perceived as too high compared to the rapid gains in AI-related equities. This rotation is evidenced by significant outflows from Bitcoin ETFs, marking the second-largest three-week streak on record. The firm warns that increasing leverage and declining institutional demand could lead to further price declines, questioning previous predictions of a cycle low around $60,000.