Bitcoin's recent underperformance relative to record-high stock markets is likely temporary, according to analysts at Schwab and Hashdex. The digital asset has lagged as artificial intelligence investments have diverted capital away from cryptocurrencies, despite equities notching fresh all-time highs.
The divergence stems from a rotation into AI-related sectors rather than any fundamental weakness in bitcoin's market structure. Researchers noted that bitcoin continues to follow a familiar post-halving recovery pattern, which historically has preceded sustained price appreciation. This cyclical behavior suggests the current disconnect is a short-term anomaly.
Market participants are watching for a re-convergence as AI hype stabilizes and bitcoin's supply dynamics take hold following its April 2024 halving. The halving reduced the rate of new coin issuance, a factor that has historically supported prices in the subsequent 12–18 months.
A counterargument holds that AI could permanently reshape capital flows, with institutional investors favoring technology stocks over nascent asset classes like crypto. If AI-driven productivity gains persist, bitcoin may struggle to regain its status as a portfolio diversifier, particularly during periods of risk-on sentiment.