Mohamed El-Erian talks AI trade, volatility, Fed expectations. What to expect from bitcoin

• S&P 500 bounced off technical support, with 7000 being a key resistance level; tech stocks (e.g., software) are extremely oversold but sustainability is questioned.
• The Federal Reserve is expected to cut rates 1-2 times this year, which is supportive of equities, but the market path may be choppy.
• Mohamed El-Erian advises investors to be cautious of indiscriminate tech rotation, instead focusing on structural opportunities and companies with strong balance sheets that can monetize AI investments.
• Bitcoin's long-term uptrend is broken, with potential downside risk to 50,000; gold's long-term trend remains positive, but short-term consolidation is expected.

The video analyzes recent market volatility, especially in tech, and the outlook for upcoming jobs and inflation reports. Experts discuss technical setups for major indices, gold, and bitcoin, while also advising caution on broad market rotations and highlighting the potential shift in Federal Reserve policy.