China's stock market deflation raises Bitcoin risk as US tech earnings loom

China's STAR50 index fell 4.81% on October 27, extending a roughly 40% slide from July that erased about $480 billion. Bitcoin held near $80,400. Analysts warn that if upcoming US tech earnings show AI infrastructure spending continues to outpace realized revenue, concerns about overvaluation could spread to crypto via Spot Bitcoin ETFs linking BTC to tech stocks. Conversely, CryptoQuant CEO Ki Young Ju argues Bitcoin largely missed the AI rally and may not be heavily affected by an AI bust, suggesting potential rotation back into Bitcoin if risk-off selling fades.