Bitcoin set for 'choppy summer' as capital chases high-flying AI stocks, K33 says
Key takeaways
- In a Tuesday report, K33 Research head Vetle Lunde said bitcoin's weakness reflects fading institutional demand, heavy ETF outflows and growing vulnerabilities in derivatives markets.
- "Much of the market views the opportunity cost of holding BTC as too high while anything AI-related soars," Lunde wrote.
- The divergence has become increasingly difficult to ignore.
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.By Krisztian Sandor|Edited by Stephen Alpher Jun 2, 2026, 6:42 p.m. 2 min read Make preferred on (Pixabay)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.Bitcoin BTC$67,238.59 tumbling to $67,000 may signal a challenging summer ahead as investor capital continues flowing into artificial intelligence (AI) stocks and away from crypto.
In a Tuesday report, K33 Research head Vetle Lunde said bitcoin's weakness reflects fading institutional demand, heavy ETF outflows and growing vulnerabilities in derivatives markets.
"Much of the market views the opportunity cost of holding BTC as too high while anything AI-related soars," Lunde wrote.