Bitcoin, Nasdaq investors are celebrating, while U.S. consumers turn gloomy
Key takeaways
- Bitcoin, the leading cryptocurrency by market value and a macro asset, jumped 11.8% last month, the largest gain since April 2025 and has since extended the rally by nearly 6% to $80,700, CoinDesk data show.
- This upswing has come alongside record risk-taking on Wall Street, as the tech-heavy Nasdaq index has jumped 22% since April 1, hitting a lifetime high of 23,235 points.
- The combined rally in stocks and crypto is normally expected to lift the spirits of the American consumer, who is known to invest in both assets.
Consumer sentiment still has dropped to record lows.Analysts say the widening gap between Wall Street and Main Street reflects how crypto and equities are increasingly shaped by institutional capital and long-term innovation cycles rather than everyday household finances.Major financial assets and the American consumer are moving in opposite directions, telling two very different stories about the U.S. economy.
Bitcoin, the leading cryptocurrency by market value and a macro asset, jumped 11.8% last month, the largest gain since April 2025 and has since extended the rally by nearly 6% to $80,700, CoinDesk data show.
This upswing has come alongside record risk-taking on Wall Street, as the tech-heavy Nasdaq index has jumped 22% since April 1, hitting a lifetime high of 23,235 points. The broader index, S&P 500, has rallied over 12% to 7,398 points, according to data source TradingView.