Individuals who interact with each other in social networks often exchange ideas and influence each other's opinions. A popular approach to studying the dynamics of opinion spread on networks is by examining bounded-confidence (BC) models, in which the nodes of a network have continuous-valued states that encode their opinions and are receptive to other opinions if they lie within some confidence bound of their own opinion. We extend the Deffuant--Weisbuch (DW) model, which is a well-known BC model, by studying opinion dynamics that coevolve with network structure. We propose an adaptive variant of the DW model in which the nodes of a network can (1) alter their opinion when they interact with a neighboring node and (2) break a connection with a neighbor based on an opinion tolerance threshold and then form a new connection to a node following the principle of homophily. This opinion tolerance threshold acts as a threshold to determine if the opinions of adjacent nodes are sufficiently different to be viewed as discordant. We find that our adaptive BC model requires a larger confidence bound than the standard DW model for the nodes of a network to achieve a consensus. Interestingly, our model includes regions with `pseudo-consensus' steady states, in which there exist two subclusters within an opinion-consensus group that deviate from each other by a small amount. We conduct extensive numerical simulations of our adaptive BC model and examine the importance of early-time dynamics and nodes with initial moderate opinions for achieving consensus. We also examine the effects of coevolution on the convergence time of the dynamics.