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Bitcoin lags as investors favor stocks and AI amid record low consumer confidence.

Market News
17 Aug 2026
Dailycoin
View Source
Bearish
Bitcoin lags as investors favor stocks and AI amid record low consumer confidence.

Bitcoin's price dropped over 25% from $83,000 to $60,000 in May and early June, while US stocks reached record highs, driven by strong demand for equities and AI-related assets. Glassnode data shows Bitcoin was largely ignored during this rotation, with significant outflows from Bitcoin ETFs totaling around $4.4 billion, including $3.3 billion from BlackRock’s IBIT. This divergence occurred despite consumer confidence hitting an all-time low due to inflation and geopolitical tensions, highlighting questions about Bitcoin's role as a macro hedge. The ongoing ETF outflows and weak demand could leave Bitcoin vulnerable even as stock markets continue to climb.

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