AI's hot cycle is crowding out Bitcoin's next bull run, Hyblock CEO says

Bitcoin's next big run might just be stuck in line — behind AI. That's the read from Shubh Varma, CEO of Hyblock Capital, who says the market's momentum is parked squarely on artificial intelligence at the moment.

Varma's words, shared by CoinDesk: “Right now it's AI that has its cycle.” His follow-up is the interesting part — once that cycle cools, he sees Bitcoin winning.

CoinDesk framed the whole thing as a question for its readers: is the AI boom actually keeping Bitcoin from its next bull run? Varma leans yes. The implication is that AI and crypto are scrapping over the same attention and capital, and AI is holding the belt right now.

What Varma didn't give: a date. There's no timeline for when AI cools or when Bitcoin reclaims the narrative, and no price targets or data came with the call. So treat it as a thesis on where money is flowing, not a clock.

One housekeeping note attached to the post — CoinDesk thanked Grayscale for being a sponsor of the CoinDesk Media Network. Worth flagging whenever a market take arrives alongside a sponsor nod.

For now, the takeaway is simple: crypto's loudest bull case is on hold while AI runs its lap. Varma's bet is that the baton comes back.