Bitwise analysis suggests that Bitcoin's valuation is at a historical low and discounted compared to AI stocks, but it is under pressure in the short term due to the hawkish policies of the Federal Reserve and market liquidity competition. CryptoQuant data shows that the inflow of new funds into the Bitcoin network has slowed down, and the average of market value growth indicators has decreased. SpaceX, Anthropic, and OpenAI have a potential financing demand of $200 billion, intensifying liquidity competition. The Federal Reserve maintains the 3.5% to 3.75% interest rate unchanged, and some officials expect a rate hike within the year. The price of Bitcoin has fallen below $64000, and Jelle stated that $64000 is a key level. If this level is held, the price may rebound to $70000 in the coming weeks.
AI interpretation: The Federal Reserve's decision to keep interest rates unchanged and signal a rate hike has directly tightened the liquidity environment in global financial markets. The high interest rate policy continues to push up the cost of capital, forcing risky assets to face pressure for valuation reshaping. This hawkish stance weakens the safe haven nature of cryptocurrencies, leading to an accelerated flow of market funds towards the high return AI technology sector. The current monetary policy environment has completely suppressed expectations of short-term liquidity easing, and the pressure on Bitcoin prices is a direct feedback from the market on tightening policies.
