Wall Street heavyweights are presenting some interesting outlooks. It seems the outlook for Bitcoin—cryptocurrency—is about to change significantly.

If we summarize the recent comments from BlackRock, UBS, and well-known hedge fund managers, it’s like this: the “easy phase” of the AI bubble is heading toward an end. Capital is shifting away from a one-sided concentration in mega-cap tech stocks to industries, electrification, and healthcare.

This trend carries quite important implications for Bitcoin. Traditionally, Bitcoin has been seen as a hedge asset against a weakening dollar, but in reality, it hasn’t worked that well. Gold is actually stronger. However, as Bitcoin matures, the situation may change.

BlackRock’s bond chief says they’re diversifying their portfolio away from concentrated tech investments. While expecting U.S. growth to remain steady through 2026, they also point out that this is an unprecedented investment environment. The scenario supports the economy with AI productivity, while weak labor markets suppress inflation.

For Bitcoin, this is a double-edged sword. Strong growth and low interest rates are favorable for risk assets, but if inflation is contained and the real economy improves, the urgency to seek alternative assets may decrease. In other words, Bitcoin’s value may shift more toward portfolio diversification and institutional adoption rather than macroeconomic worries.

UBS’s CIO points out that trading in AI-related stocks is changing. After a 3-year boom of building AI, the market is entering a stage where winners and losers are clearly separated. This will likely affect AI-related tokens as well. Smaller crypto assets will face tougher scrutiny, while Bitcoin’s simple investment case could work in its favor—because there’s no need to prove a software revenue model, and no need to win in the competition for AI market share.

In fact, World Liberty Financial’s WLFI token is down 12% this month, falling to $0.08. There’s controversy over the lending strategy on the Dolomite DeFi platform, but that shows the market is becoming more complex and moving away from straightforward momentum trading. As circulation risks deepen, investors are becoming more cautious.

Hedge fund manager Loeib says the market is already rewarding deep stock selection and short selling. They’ve been moving away from mega-caps and toward smaller companies in Europe, Japan, and Korea that supply key parts for building AI.

To sum it up, the 2026 crypto outlook is shifting from an era of mere momentum trading to an era where crypto is expected to stand on its own as hedging tools, diversified investments, and highly liquid alternative assets. Bitcoin could benefit from that simplicity. As markets become more complex and more selective, the value of simple, highly liquid assets will undoubtedly rise.