Bitcoin tracks AI rally on Thursday. BTC held above $63,900 as U.S. stock futures rose.
Microsoft’s strong results reassured investors. Heavy AI spending is starting to pay off.
Why Bitcoin tracks AI rally
S&P 500 futures gained 0.2%. Nasdaq 100 contracts rose 0.4%. Microsoft jumped 8% in premarket trading.
Its cloud unit grew at the fastest pace in four years. The company held the line on spending. This is the read the market wanted all month.
Alphabet unsettled investors last week. It raised its spending forecast. Microsoft showed returns arriving without a bigger bill. AI capex is converting to growth.
Bitcoin has tracked that trade closely. It moves with the chip and AI complex. This is not crypto-specific action.
Dollar weakens despite hawkish Fed
The Dollar Index dropped to 100.754. This extended Wednesday’s 0.6% slide from 101.49. The decline came despite a “hawkish hold” from the Fed.
Inflation and policy uncertainty push yields higher. The 30-year yield rose to 5.24%. This is the highest since 2007.
A weaker dollar supports the bullish case. Higher yields suggest otherwise.
Market outlook
Bitcoin above near $64,000 level. Microsoft’s results provided a positive catalyst. The AI trade continues to influence crypto.