Bitcoin's Real Value Lies in the AI Economy, Expert Argues

Bitcoin's market capitalization saw a 20% increase in a week, according to data. Abra CEO Bill Barhydt believes this growth is more than just a short squeeze and points to supportive financial conditions.

Barhydt attributes these conditions to U.S. Treasury efforts to support the long end of the bond market, a weaker dollar, and a changing yield curve.

He predicts Bitcoin will reach $85,000 before a leverage reset pulls it down towards $70,000, followed by a gradual climb to $100,000 to $110,000.

The Abra CEO sees altcoins outperforming once Bitcoin moves beyond its initial leverage-driven phase.