Bitcoin Struggles as Nasdaq Hits Historic Highs Amid AI-Driven Gains
The relationship between Bitcoin and the Nasdaq Composite index is becoming increasingly complex. The divergence between them suggests an ongoing competition for risk capital, with AI-driven gains in tech equities diverting institutional and retail liquidity away from the crypto market.
The Nasdaq is trading near historic highs at $26,644, while Bitcoin remains suppressed at around $64,237, approximately 50% below its all-time high of over $126,000 achieved in October 2025. This divergence raises critical questions among investors about what the future may hold for Bitcoin.
Glassnode's data highlights this trend, citing AI trade as the key driver of the tech market while leaving Bitcoin out of the capital rotation. However, the analytics platform emphasized that the drop in Consumer Confidence is highly divergent from the US Stock Market Index.