Crypto
Bitcoin Lags as Global Equities Hit Record Highs on AI Optimism
Global equities are hitting record highs, driven by optimism over AI and progress toward reopening the Strait of Hormuz. However, Bitcoin (BTC) has failed to keep pace, trading near $64,000 after a 0.16% gain since midnight UTC.
The broader CoinDesk 20 (CD20) is unchanged, with 11 components rising and nine declining, pointing to crypto-specific weakness. U.S. spot bitcoin ETFs have recorded $5.4 billion of net outflows in the first half of the year as capital rotated into AI-linked assets.
According to DWF Labs, institutional and retail interest in crypto has cooled off as AI absorbs a disproportionate share of capital and attention, with most sectors underperforming AI over the past year.