Bitcoin Flat at $64k While Equities Surge on AI Hype

Woofun AI reports that Bitcoin (BTC) remains stagnant near $64,000, creating a stark divergence as global equities surge on AI optimism and the prospect of reopening the Strait of Hormuz.

The broader CoinDesk 20 (CD20) index is unchanged since midnight, with 11 components rising and nine declining, highlighting crypto-specific weakness. In contrast, MSCI's All Country World Index rose 0.4% toward another record close, while the Asia Pacific benchmark gained 2.2%. Australian shares hit a new peak after the S&P 500 and Dow Jones Industrial Average closed at all-time highs Tuesday. Bitcoin itself added just 0.16% since midnight UTC to trade near $64,000.

Woofun AI data shows U.S. spot bitcoin ETFs recorded $5.4 billion of net outflows in the first half of the year as capital rotated into AI-linked assets. DWF Labs noted that institutional and retail interest in crypto has cooled as AI absorbs a disproportionate share of capital and attention. Most sectors, not just crypto, have underperformed AI over the past year. Today’s direction may find a catalyst in U.S. employment figures and ISM services PMI due later.

Circle Internet (CRCL), issuer of the second-largest stablecoin (USDC), said second-quarter revenue grew 7% from the year earlier. The $701 million figure fell short of estimates. Galaxy Digital (GLXY) is also due to report today, while Riot Platforms (RIOT) delayed its report for an unspecified period. This marks a continued period of underperformance for digital assets relative to traditional tech equities.