Bitwise analysts regard Bitcoin as undervalued compared to the tech companies that benefit from the AI boom. Despite the first cryptocurrency’s recent spike to $67,000 amid Middle East peace negotiations, most investment capital remains concentrated in the AI sector, while the digital-asset market receives no comparable inflow.

The continued rise of Bitcoin and other risky assets is being held back by investors' cautiousness, who expect the Fed to decide interest rates at a FOMC meeting. Bitwise believes that the regulator’s signals about US monetary policy will be a key trigger for the market. However, experts do not rule out that the current situation lays the foundation for a more sustainable recovery of crypto in the future if investors' mood improves and demand for digital assets returns. Bitwise previously compared Bitcoin to the "canary in the coal mine," which is the first to respond to changes in global financial conditions.