Bitcoin surged 11.8% in April, extending gains to $80,700, while the Nasdaq hit an all-time high, rallying 22% since April 1. Despite these gains, the University of Michigan's consumer sentiment index fell to a record low of 48.2 points, driven by inflation fears and tariffs. The divergence highlights a divide between Wall Street and Main Street, as institutional capital flows into tech and crypto, while households face economic uncertainty. Experts note that crypto's correlation with equities has strengthened due to institutional adoption, yet consumer confidence remains weak. The gap may persist as digital assets attract fresh capital seeking asymmetric returns, though risks like monetary tightening and regulation remain.

Key facts

• Bitcoin rose 11.8% in April, now trading at $80,700.
• Nasdaq hit a record high of 23,235 points, up 22% since April 1.
• U.S. consumer sentiment hit a record low of 48.2 points in May.
• Inflation and tariffs are the main concerns for consumers.
• Institutional flows drive asset prices, decoupling from consumer confidence.

KeyAudit data perspective