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QCP Warns of AI Debt Risks and Macro Stress Dragging BTC Down
QCP’s October 23, 2026, Market Colour report warns of Bitcoin and tech stocks under pressure due to rising bond yields and Middle East tensions. CoreWeave, a company that rents powerful GPU clusters to AI developers, saw its bond yields climb to around 15%, up from 9.675% in June. Tesla’s reduced 2026 capital expenditure forecast to $20 billion from over $25 billion also adds to investor concerns about AI profitability. European government debt yields rose, with France’s 10-year OAT yield surpassing 5.1%, widening the gap with Germany’s 10-year Bund to 170 basis points. Middle East tensions pushed Brent crude past $114 a barrel, contributing to inflation fears. QCP noted that Bitcoin is moving in line with falling stock markets, facing selling pressure alongside technology stocks.