Bitcoin Stuck as US Consumer Confidence Hits Record Low

Glassnode, a leading on-chain analysis platform for the cryptocurrency market, is warning investors that Bitcoin's inability to rise may be due to weak consumer confidence in the US.

The company notes that as consumer confidence has fallen to a record low, investors are shifting towards equities and AI-related assets, leaving Bitcoin behind.

Glassnode argues that this capital rotation is driving money into stocks, commodities, and riskier assets, but not benefiting Bitcoin enough. The platform points out that Bitcoin's price has lagged behind the stock market throughout the summer and is currently trading at roughly half its peak level seen in October 2025.

The critical levels for Bitcoin, according to Glassnode, are between $63,000 and $68,700. If Bitcoin can regain the $68,700 level with strong volume and ETF inflows, it could be a sign of recovery. However, losing the June low of $58,500 could increase the risk of BTC testing even lower levels.