Oil, AI Credit Stress, and Bitcoin: QCP Flags a Dangerous Macro Mix for Risk Assets

Bitcoin is being pulled into a broader risk-off trade as AI-related credit stress collides with another surge in oil prices, and both take place just days before the next FOMC meeting. A recent report by QCP said BTC is still behaving like a risk asset, while the latest Middle East escalation has pushed Brent above $110 and complicated the outlook for inflation and the Federal Reserve. The research pointed to CoreWeave’s five-year CDS at roughly 1,128 basis points, more than three times Oracle’s 30 bps, as evidence that markets are becoming increasingly concerned about the financing burden attached to the…