K33: Bitcoin set for 'choppy summer' as capital chases high-flying AI stocks, K33 says

The firm still views bitcoin as undervalued relative to equities, but says investors are rotating into AI stocks as the opportunity cost of missing gains by holding BTC is too high. What to know : Bitcoin faces difficult summer months as investors favor AI-related stocks and upcoming tech IPOs over crypto, K33 Research said. The capital rotation is apparent in bitcoin ETFs seeing their second-largest three-week outflow streak on record. The firm previously called $60,000 the cycle low but now warns that rising leverage and fading institutional demand could lead to deeper losses.(Coindesk)