Wall Street Veteran Jordi Visser Ties Bitcoin's Next Leg Up To Big Tech Earnings

• Jordi Visser said Bitcoin's next rally will likely come when the AI trade bounces.
• He said investors have already pulled much of their money out of AI bets.
• According to the Wall Street veteran, December would be the second window for a move.

Wall Street veteran Jordi Visser said Bitcoin's (BTC) next leg higher would likely come with Big Tech earnings, as he expected the AI trade to bounce "either right during or after the hyperscalers report."

On Anthony Pompliano's podcast on Saturday, Visser said Bitcoin's next rally now depends on a recovery in AI stocks, which he said could come around the end of this month, when the largest tech companies report earnings. 

Visser said investors have already pulled much of their money out of AI bets, which had set the stage for a rebound. “So the risk has been completely taken off," Visser added.

He added that month-ends matter when hedge funds are under strain, because stressed managers tend to hold back on risk until a new month starts.

Additionally, the midterm elections are scheduled around Nov. 3, Visser added, saying, “You have the midterms, so right around there also kind of coincide.” 

A Second Window For Bitcoin Rally Now Stands In December

Visser, however, added that tech earnings “are not all about OpenAI and Anthropic.” The AI trade might be one of bursts rather than sustained gains, he argued, with December providing another potential window for a rally. 

He thinks Bitcoin will make another run toward its highs. More capital into the sector could be brought in through increasing adoption of tokenization and increasing attention on crypto, which will benefit Bitcoin as money flows back into the market, he added.

Visser saw another chance in December, when many investors closed out their books.

"That is the time when a lot of people just say, 'I'm done with the year,'" he said. "So go for Bitcoin. I expect it to have its next move up to the highs," he added.

Bitcoin’s price was trading at around $81,916.8, up 0.6% in the last 24 hours. On Stocktwits, retail sentiment around BTC dropped to ‘extremely bearish’ from the bearish zone, with ‘low’ chatter levels over the past day.

Visser Says Bitcoin Outpaces Stocks And Bonds Amid Global Market Turmoil

Visser said Bitcoin has held up while other markets have stalled. “Bitcoin's Sharpe ratio right now over the last four months stands out, and it stands out as the rest of the world is kind of going through this chaos,” he said. The Sharpe ratio compares an asset’s return with its risk.

Other measures painted a more mixed picture. Bitcoin’s Sharpe ratio stood at about -0.62 as of October 13, according to Bitbo data. That is up from around -1.4 in early August, but still below zero.

Visser’s case rested on how Bitcoin compares with other assets. He said the Nasdaq Composite and the S&P 500 (SPX) were flat over that stretch, bonds fell, and Bitcoin was up nearly 30%.

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