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Core inflation increased less than expected in May, but markets still turned negative during afternoon trading as sentiment weakened.
AI investment surge adds $40B in new funding plans
Alongside its earnings report, Oracle (ORCL) announced plans to raise roughly $40 billion through debt and equity issuance in fiscal 2027 to finance AI-driven capital spending. This comes on top of an existing $20 million at-the-market share offering.
The company’s shares slipped 1.6% in after-hours trading.
This development follows Google’s $85 billion fundraising plans, reports that Meta may be considering a similar-sized capital raise, and comes just hours before the anticipated $80 billion SpaceX IPO.
The ongoing rotation of capital away from crypto assets appears likely to persist.
Strategy CEO says bitcoin sale was not to fund dividends
Speaking to CNBC, Strategy (MSTR) CEO Phong Le said the company’s recent bitcoin sale was intended to:
- reduce market uncertainty,
- test internal selling processes (since the firm is experienced in buying but less so in selling), and
- realize tax losses, a strategy the company expects to use more frequently.
He emphasized that the sale was not driven by dividend obligations, noting that Strategy has alternative funding sources for payouts.
Le also acknowledged that capital is currently flowing toward the SpaceX IPO and AI-related investments but expects that trend to eventually reverse back into crypto.
Cramer calls bitcoin and gold “bad money” amid SpaceX-driven rotation
Jim Cramer commented that “bitcoin and gold are bad money being sold for SpaceX,” while referring to Apple and Nvidia as “good money” being liquidated.
Bitcoin traded near $61,800, largely unchanged over 24 hours. Gold dropped 4.2% to $4,109, about 20% below its peak in January.
Meanwhile, the Nasdaq continued its June decline ahead of the SpaceX IPO, falling 1.8% on Wednesday and down roughly 7% for the month.
Bitcoin miners rebranded as AI data center plays hit hard
Companies once considered bitcoin miners are now increasingly tied to AI data center operations rather than mining profitability.
Despite recent strength in the group, many names fell sharply as the Nasdaq weakened, with Hut 8 (HUT), CleanSpark (CLSK), TeraWulf (WULF), and Cipher Mining (CIFR) dropping between 5% and 7%.
Bitcoin remained mostly flat at around $61,900.
Oil spike after Trump comments briefly boosts volatility
Oil prices surged after President Trump stated that the U.S. would continue strong strikes against Iran.
WTI crude rose 3.3% to $91.11 per barrel following his remarks.
While equities declined, bitcoin initially showed resilience, rising toward $62,400 and briefly decoupling from broader market weakness.
Later, BTC hovered near $63,000, still showing relatively low correlation with traditional assets.
Bitcoin dips below $62K as risk assets weaken
After an early recovery, markets reversed into negative territory during U.S. trading hours, with the Nasdaq slipping 1%.
Geopolitical concerns and anticipation around the SpaceX IPO added pressure following stronger-than-expected inflation data.
Bitcoin pulled back to around $61,900 after briefly crossing $62,000 earlier in the session, still posting a small daily gain.
BlackRock files details for Bitcoin income ETF
BlackRock disclosed a 0.65% fee for its proposed Bitcoin Premium Income ETF (BITA), signaling a potential near-term launch.
The fee is higher than its spot bitcoin ETF but lower than competing covered-call ETF products.
The fund will generate yield by selling bitcoin-linked options, though this may limit upside participation during strong BTC rallies.
Bitcoin climbs above $62K on softer inflation reading
Bitcoin rose above $62,300 after cooler-than-expected inflation data improved market sentiment.
Equities also rebounded, while gold declined more than 2%.
Crypto-linked stocks such as Strategy (MSTR), Robinhood (HOOD), and Coinbase (COIN) posted gains, alongside AI-focused mining firms.
Fold surges after bitcoin sale used to reduce debt
Fold Holdings (FLD) doubled in value after announcing it sold bitcoin at around $71,000 per coin to raise $45 million.
Part of the proceeds was used to repay bitcoin-backed debt, while the remainder was allocated to business expansion.
Despite the sale, the company still holds a significant amount of bitcoin on its balance sheet.
CPI comes in softer than expected
U.S. CPI rose 0.5% month-over-month and 4.2% year-over-year, matching forecasts.
Core CPI increased only 0.2% monthly versus expectations of 0.3%, with annual core inflation at 2.9%.
Bitcoin edged higher on the softer reading, trading around $61,500, while Nasdaq futures trimmed earlier losses.
Markets fall ahead of inflation data, dragging BTC lower
Markets declined ahead of the CPI release as investors braced for persistent inflation.
Nasdaq futures fell 1.5%, while S&P 500 futures slipped 1%.
Bitcoin dropped nearly 3% to around $61,000, while Treasury yields remained elevated near multi-year highs, reflecting expectations of tighter monetary policy.
Bitcoin profitability drops toward bear-market levels
On-chain data shows bitcoin profitability is falling toward levels typically seen in late-stage bear markets.
The share of BTC supply in profit is approaching 45%, indicating that most holders are now at a loss.
Historically, such conditions have preceded market bottoms as weaker holders exit and long-term investors accumulate.
Hut 8 raises billions for AI data center expansion
Hut 8 secured a $4.25 billion debt package to finance a large-scale AI data center project in Texas.
The funding will support a 352-megawatt facility leased to a high-credit-rated tenant.
This marks one of the company’s largest financing deals as it continues expanding into AI infrastructure.
Markets retreat as CPI expectations rise
Markets weakened ahead of inflation data, with crypto and equities both under pressure.
Bitcoin and the Nasdaq fell more than 1% in pre-market trading as investors prepared for persistent inflation.
Gold declined and Treasury yields rose, reflecting expectations of higher interest rates for longer.
Bitcoin mining difficulty set for major drop
Bitcoin mining difficulty is expected to fall sharply, the largest adjustment since February.
This follows a decline in network hash rate, driven by rising energy costs and miners shifting toward AI and high-performance computing.
Some mining firms are also selling bitcoin and redirecting capital into infrastructure businesses.
Oil volatility cools, but Bitcoin remains unstable
Oil market volatility has returned to pre-conflict levels after easing geopolitical tensions.
However, bitcoin volatility has increased, driven by ETF outflows, macro uncertainty, and shifting investor sentiment.
SpaceX IPO speculation pressures crypto liquidity
Ahead of the SpaceX IPO, leverage-driven crypto contracts tied to the company have declined sharply.
The drop reflects broader risk-off sentiment and capital rotation into high-profile equity offerings.
Bitcoin chart weakens, analysts turn cautious
Some ETF-focused analysts say bitcoin’s technical structure has deteriorated, with price trading well below key moving averages.
While short-term rebounds are possible, broader sentiment remains cautious unless BTC recovers significantly.
AI model launch adds pressure on crypto sentiment
The release of new AI models from major firms has strengthened the AI investment narrative.
Crypto markets have increasingly traded in line with AI-driven risk sentiment, with large-cap assets reacting more to macro flows than technological developments.
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