Bitcoin Left Out of Risk-Asset Rotation as US Consumer Gloom Deepens
Summary
- US consumer sentiment has fallen to a record low even as stocks keep reaching new highs, and Bitcoin is being left out of the flow into risk assets, according to the analysis.
- Glassnode said investor money is moving out of cash and into stocks, artificial intelligence-related assets and commodities despite weakening consumer sentiment.
- Glassnode said demand for Bitcoin remains relatively weak even as the stock market stays strong and capital rotates into AI and commodities, leaving it largely excluded from the broader shift in funds.
Forecast Trend Report by Period
US consumer sentiment has slumped to a record low even as stocks continue to set fresh highs, but Bitcoin is being left out of the broader flow into risk assets, according to Glassnode.
The on-chain analytics platform said on Aug. 17 that US consumer confidence has fallen to its lowest level on record while the stock market keeps reaching new highs, underscoring a clear divergence between the two indicators.
Consumer confidence tracks how positively or negatively households view current and future economic conditions. While weakening sentiment would typically weigh on demand for risk assets, recent moves in financial markets suggest otherwise.
Glassnode said investor money is moving out of cash and into stocks, artificial intelligence-related assets and commodities despite softer consumer sentiment.
Bitcoin, by contrast, has not been a clear beneficiary of that rotation. Demand for the token has remained relatively weak even as equities extend gains and capital shifts toward AI-linked assets and commodities.
“Weak consumer sentiment is pushing capital out of cash and into stocks, AI and commodities,” Glassnode said. “Bitcoin is being largely left out of this rotation.”
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.