Bank of America Triggers 70% Bear Signals as James Check Eyes Bitcoin Entry Point in June 2026

According to Checkonchain founder James Check, AI capital rotation leaves bitcoin neglected, creating the conditions for a major entry point for long-term holders. Speaking on the TFTC podcast in early June, Check argued that as investors chase high-growth AI trades and upcoming IPOs, bitcoin's "time pain"—the gradual attrition of impatient holders—removes structural selling pressure. "When bitcoin's forgotten, then suddenly it's the only thing in the room that's moving," he said.

Bank of America strategists, led by Savita Subramanian, reinforced this backdrop by warning that approximately 70% of the firm's bear-market indicators had triggered by June 2026, consistent with prior market peaks. BofA lowered its year-end S&P 500 target to 7,100. Morningstar's analysis highlighted valuation stress in the AI sector, assigning SpaceX a fair value of $780 billion—roughly 48% below recent private market valuations near $1.5 trillion and well below reported IPO targets above $1.75 trillion, which are expected to price around June 11-12.