US Stocks Defy Record-Low Consumer Sentiment, Leaving Bitcoin Behind

A recent divergence has emerged in US markets: consumer confidence has plummeted to record lows while equities continue to reach new heights.

According to on-chain analytics firm Glassnode, weak consumer sentiment is driving capital out of cash and into stocks, AI-related names, and commodities, but Bitcoin has been largely left behind.

The S&P 500 briefly touched 7,814.88 points in mid-August, marking its first-ever close above the 7,800 level. Gold climbed to $4,397, up 32% year-over-year.

Bitcoin, by contrast, remains stuck in a $63,500, $65,000 range, indicating that it is not benefiting from the equity bull market or rotation into commodities.