Bitcoin Stuck as Nasdaq Hits Historic Highs
The relationship between Bitcoin and the Nasdaq Composite index is becoming increasingly complex. The divergence between the two assets suggests an ongoing competition for risk capital, with AI-driven gains in the tech sector leaving Bitcoin stuck in a range-bound position.
Nasdaq is trading near historic highs at $26,644, while Bitcoin remains suppressed at around 50% below its all-time high of over $126,000 achieved in October 2025. Glassnode's data highlights the trend, citing AI trade as the key driver of the tech market, which has diverted institutional and retail liquidity away from the crypto market.
Bitcoin is currently stuck within a horizontal range with low volatility, while the Nasdaq index's momentum is significantly stronger due to its consistent support by secular corporate earnings. However, Bitcoin offers a more asymmetric risk/reward entry than chasing overextended AI equities, and traders can monitor key structural boundaries such as the $64,000-$65,000 region for breakout confirmation.