Key Facts

• Former Credit Suisse executive Mark Connors believes AI is creating a widening divide between companies that benefit from the technology and those at risk of disruption, citing Accenture's recent selloff and weakness in software companies like Autodesk and Intuit.
• Chris Sullivan, co-founder of Hyperion Decimus, argues that Bitcoin's four-year cycle remains intact and believes the market is nearing a point where "it's so bearish it's bullish," expecting a bear-market bottom in the $54,000 to $58,000 range.
• The contrast between crypto and equities has been a defining market story this year, with AI enthusiasm propelling technology stocks to record highs, while Bitcoin has tumbled 46% to $58,580.68.
• Correlations among stocks, bonds, commodities, and cryptocurrencies have risen in recent months, according to Kestrel data, suggesting investors are responding more to policy developments than to company-specific fundamentals.
• U.S. spot Bitcoin exchange-traded funds (ETFs) have changed how Bitcoin trades and weakened many of its historical relationships with broader macro indicators, according to Chris Sullivan.