Higher Treasury yields and a stronger dollar continue to weigh on BTC as investors favor income-producing assets.

Bitcoin is stuck near $65,000, and trader Wise Crypto thinks AI spending is a big part of why.

The OG crypto poked above $66,000 earlier this week before losing steam, and the pattern points to money chasing AI stocks instead of crypto while inflation and bond yields keep pressure on risk assets.

Where the Money Is Actually Going

Wise Crypto laid out the case on X Thursday, noting that while spot Bitcoin ETFs have had seven consecutive days of inflows that have raked in just under $1 billion, the number was a small one next to the $6.9 billion that left those…