Macro economist Lyn Alden stated that Bitcoin’s (BTC) next big rise could depend on artificial intelligence (AI) stocks becoming overvalued among investors and reaching their peak. Speaking to Natalie Brunell on the Coin Stories podcast, Alden expressed that if AI stocks reach irrational levels, capital could shift to other opportunities like BTC. BTC is currently trading at 68.028 dollars, down 46% from its October peak of 126.100 dollars (+1.13% 24h change).
Lyn Alden spoke to Natalie Brunell on the Coin Stories podcast. Source: Natalie Brunell/YouTube
The growth of AI leaders like Nvidia (NVDA) is being questioned; the company’s stock price rose 35.48% in the last 12 months, but its sustainability is debatable. Alden emphasized that marginal new demand for BTC would be sufficient, with long-term holders forming the base. She does not expect a quick V-shaped rise in the short term; they are in a sideways grinding phase on the lower levels.
Critical Support and Resistance Levels for BTC
- Supports: S1: 67.914$ (⭐ Strong, -0.22% distance) | S2: 66.280$ (⭐ Strong, -2.62% distance)
- Resistances: R1: 70.993$ (⭐ Strong, +4.30% distance, EMA 20: 71.004$) | R2: 68.293$ (⭐ Strong, +0.34% distance)
- RSI: 37.45 (Oversold), Trend: Bearish, Supertrend: Bearish
According to recent news, despite increasing searches for ‘Will Bitcoin go to zero?’, institutional buyers are accumulating BTC. According to BIP-360, post-quantum security will take 7 years; reassuring for long-term holders. Click for detailed BTC analysis.
Why Is BTC Grinding Sideways?
According to Alden’s view, if the AI bubble bursts, capital will flow to BTC. In the current bearish trend, BTC futures may offer opportunities. Similar consolidation is observed in altcoins (ALT).
Frequently Asked Questions About Bitcoin and AI Markets
- When will BTC rise? If AI stocks peak, marginal demand increases.
- What is BTC’s support level? 67.914$ strong support, if broken 66.280$.
- Does quantum risk affect BTC? With a 7-year transition period, long-term HODLers are safe.
Source: https://en.coinotag.com/lyn-alden-ai-summit-could-trigger-btc-rally
