Nasdog Warning: BCA Research Sees AI Boom Ending and US Stocks Crashing by H2 2026

COINOTAG News reports a cautious note from BCA Research, the Wall Street analytics firm led by Peter Berezin. The “Return of Nasdog” outlook flags a potential AI rally reversal and a softer US growth backdrop. In this setting, crypto markets remain highly sensitive to macro liquidity and cross-asset flows, with Bitcoin and Ethereum acting as corridor assets for risk-off cycles.

BCA Research projects US technology and software investment slowing toward 4.4% of GDP by 2025, paired with AI asset depreciation near 20% annually—roughly $400 billion in annual write-downs. Such dynamics threaten tech earnings multiples and could redirect speculative capital toward DeFi-driven opportunities within the crypto market.

For 2026, the firm anticipates a stressed equity backdrop and a potential easing path for policy rates in the second half, implying looser liquidity. In this scenario, crypto traders may see renewed activity, underscoring disciplined risk management, selective cross-chain exposure, and careful monitoring of Fed policy guidance.