Bitcoin (CRYPTO: BTC) has fallen behind AI stocks in terms of sentiment, but the crypto king is nearing the low of its historical valuation range.
Nothing Coming To Save BTC
In an interview with Natalie Brunell on July 7, macro analyst Lyn Alden said Bitcoin has been pressured by a major capital rotation into artificial intelligence and semiconductor stocks, particularly memory-chip names that became the “fastest horse in the race.”
She noted that Bitcoin’s decline since late 2025 coincided with free cash flow compression among major hyperscalers as they ramped AI spending, pushing investors away from assets such as Bitcoin and gold.
Alden said Bitcoin may not need a major policy catalyst to recover, arguing that “there’s nothing coming to save Bitcoin” and that the asset must survive on its own merits.
She said Bitcoin is already near the bottom of its historical valuation range, though she stopped short of calling an exact low.
Over the past month, Bitcoin has fallen about 3%, slipping to around $60,000 after peaking near $124,000 in late 2025.
BTC Unlikely To Reclaim New Peaks This Year
Alden said this cycle has been defined more by corporate adoption than retail participation, with less evidence of small holders moving Bitcoin into self-custody compared with previous cycles.
Outside BTC, stablecoins and tokenized real-world assets have also failed to generate durable demand.
On Strategy Inc. (NASDAQ:MSTR), Alden said the company acted reasonably after volatility hit its preferred stock product (NASDAQ:STRC).
However, she said the company should be careful in how it markets yield products tied to BTC, given tail risks during sharp price declines.
Alden said she does not expect a massive liquidity “big print” in the near term but only a gradual expansion of money supply, favoring scarce, high-quality assets bought during periods of weak sentiment.
She said Bitcoin is unlikely to reclaim new all-time highs this year in her base case but expects the asset to move back into fresh six-figure territory over the next couple of years if it continues following its long-term adoption path.
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