Goldman Sachs Trader: Bitcoin and AI Become New Market Focus as Risk Assets Are Revalued Upward

[Coin World] Paolo Schiavone, a senior macro trader at Goldman Sachs, stated that the market has transitioned from the crisis phase in April to the "response phase" to the Federal Reserve's interest rate cuts, driving a significant upward revaluation of risk assets. He believes that the current core driving force in the market is a keen insight into the changes in the macro environment, rather than trend-following strategies. Schiavone noted that the dominant position of systematic macro strategies is waning, and market behavior is increasingly reliant on subjective judgment and position allocation. He is particularly optimistic about Bitcoin and the artificial intelligence sector, believing that total capital expenditure by large-scale data center operators in the U.S. will increase to $1.15 trillion in the fiscal years 2025-2027. Schiavone emphasized that in this era shaped by belief, the wisest investments are not certain assets, but the power to shape the future.