AI Boom Leaves Bitcoin Behind Amid Record-High Stocks
Consumer confidence in the US has hit near-decade lows even as stocks notched record highs, and Bitcoin is being left behind. According to Glassnode, consumer confidence remains among the weakest readings of the past decade.
The paradox lies in the fact that households are moving money out of cash and into assets despite expecting living costs to rise and the broader economy to soften. However, this capital is not landing in Bitcoin.
US equities set a fresh all-time high on August 7, driven largely by the artificial intelligence (AI) trade rather than a broad-based rally. Bitcoin, historically touted as the asset that benefits when consumers lose faith in traditional finance, has not been part of this move.
Bitcoin's price is trading near half its October 2025 peak, while AI-focused equities and tokens continue to attract fresh capital. The macro backdrop hasn't been hostile to Bitcoin, with core inflation printing at 2.5% in July. However, this has not translated into a corresponding increase in Bitcoin's price.