Here’s a more concise, polished rewrite with a sharper market-news tone:
BlackRock’s IBIT led ETF outflows with roughly $300 million exiting the fund, while smaller products captured part of that capital. The move comes as the AI-driven trade that recently shook South Korea is now fueling a powerful rally across Asian equities.
Wintermute: Bottom Not Yet In
Wintermute said the market is flashing classic capitulation signals—weak sentiment, a growing share of supply underwater, and bitcoin hovering near its 200-week moving average—but lacks meaningful buying pressure.
Bitcoin has long acted as a sink for excess liquidity, yet those flows have not returned. ETF outflows remain heavy, and OTC demand is muted as investors favor AI-linked opportunities.
Jasper De Maere added that seasonality is another headwind, noting crypto markets rarely bottom in summer. He expects continued weakness into September or October, with any recovery dependent on macro developments.
Key catalysts ahead include U.S. jobs data, bitcoin’s ability to defend long-term support, how Strategy’s STRC trades under its new framework, and whether AI-driven capital flows begin to ease.
Strategy Stocks Pull Back
Shares of Strategy are set for a weaker open, suggesting the previous session’s rally may have been temporary.
Bitcoin slipped to around $58,800, down roughly 3% over 24 hours. In pre-market trading, MSTR dropped 6% and STRC fell 3.6%, while U.S. stock futures pointed to a flat start.
Gold Suffers Worst Quarter Since 2013
Gold is on track for its steepest quarterly decline in over a decade, pressured by higher rate expectations and a stronger dollar.
The metal fell about 13% in Q2, retreating from a January peak of $5,600 per ounce to just above $4,000. Bitcoin posted a similar 13% drop, marking its third consecutive quarterly loss.
Meanwhile, the Nasdaq is heading for roughly a 20% gain, underscoring a sharp divergence as capital concentrates in AI-driven stocks.
Strive Faces Losses on STRC Bet
Strive Asset Management is sitting on an unrealized loss of about $12 million from its investment in Strategy’s STRC preferred shares.
After deploying $50 million for 500,000 shares, the position is now worth roughly $37.7 million. STRC slipped another 2% to $82 pre-market, while MSTR fell about 3%, reversing part of Monday’s rally.
Hyperliquid Strategies Joins Major Indexes
Hyperliquid Strategies has been added to the Russell 3000, Russell 2000, and S&P Global BMI indexes.
The firm, holding over $1.14 billion in HYPE tokens, joined the benchmarks during FTSE Russell’s reconstitution. The token has gained over 3% in the past week, outperforming the broader crypto market.
Dollar Strength Nearing a Peak
Economist Robin Brooks said the U.S. dollar may be approaching its peak, with positioning heavily skewed to the upside.
A reversal—potentially triggered by weaker economic data—could provide support for bitcoin and gold.
Miners Shift Toward AI
Ionic Digital is accelerating its pivot to AI infrastructure, highlighting a broader trend in the sector.
The firm raised $400 million ahead of a planned Nasdaq listing, with AI-related operations far outpacing bitcoin mining revenue. Key facilities have already been repurposed to support AI workloads.
ETF Outflows Continue as AI Trade Dominates
Spot bitcoin ETFs recorded $231 million in net outflows, led by IBIT’s $300 million exit, partially offset by inflows into smaller funds.
At the same time, global equities—particularly in Asia—are surging on AI momentum. South Korea’s Kospi and major chip stocks have rallied sharply, while the yen has weakened as investors fund AI trades.
Crypto markets, however, remain sidelined, as capital continues to rotate toward AI and semiconductor investments.
If you want, I can compress this into a short “breaking/live updates” format or a punchier newsletter version.
