Macro Risks Top AI Concerns for Bitcoin's Price

Bitcoin's rally may be threatened by macroeconomic factors rather than AI-driven optimism. According to Bitunix analysts, rising long-term Treasury yields and concerns about the Federal Reserve's credibility pose a bigger risk to Bitcoin's price in the coming months.

The analysts argue that investors are more concerned about sustainable revenue growth from AI investments rather than questioning the technology's long-term growth story. Strong performances from Microsoft, Google, and Amazon have contributed to a rebound in semiconductor stocks, while South Korea's semiconductor exports soared 180% on-year.

Confidence in the Federal Reserve's inflation-fighting credibility is coming under pressure, with investors demanding a higher risk premium. Multi-year highs in long-dated U.S. Treasury yields may put pressure on valuations in both technology stocks and cryptocurrencies as inflation rises.