Crypto
Bitcoin Muted as Stocks and Gold Surge Amid Weak Consumer Sentiment
An analysis by Glassnode reveals that despite weak consumer sentiment in the US, money is flowing into stocks, AI-related shares, and commodities. Meanwhile, Bitcoin seems to be left out of this flow.
The S&P 500 index rose to a new high of 7,814.88 in mid-August, with continued inflows of liquidity into the stock market. Glassnode noted that bitcoin has been 'almost sidelined' in this capital shift.
Gold also saw significant gains, rising to $4,397 and up 9.75% over the past month. The precious metal's price increase was attributed to expectations of slowing inflation and continued buying by central banks.