Bitcoin Advances, Oil Slips and Yields Fall as Traders Move Past Iran Concerns
Bitcoin ETFs suffer $84M outflows, ending three-day positive streak
U.S. spot Bitcoin ETFs recorded $84 million in net withdrawals on Wednesday, bringing an end to a three-day inflow streak that had attracted approximately $509 million in capital.
Elon Musk says SpaceX could achieve an unlimited valuation
Elon Musk said SpaceX’s valuation potential could be virtually limitless if the company succeeds in reaching its ambitious goals.
The SpaceX and Tesla CEO made the remarks on X after responding to a user who questioned whether the May agreement involving SpaceX, xAI, and Anthropic could become the biggest strategic mistake of the AI industry.
Musk stated that if SpaceX accomplishes its objectives, the company could eventually become more valuable than everything else on Earth combined.
Meanwhile, SPCX shares bounced back slightly from recent losses, climbing 2.6% on Thursday to $152.16.
Kevin Warsh launches Fed task forces with Marc Andreessen among participants
Federal Reserve Chair Kevin Warsh has created five new task forces to examine the effectiveness of the central bank’s current policies, tools, and decision-making frameworks.
Warsh said the U.S. economy has undergone significant changes over the past generation, making it necessary to review whether existing approaches can be improved.
The task forces will focus on:
- Communications: Evaluating how the Fed presents policy decisions and guidance during uncertain periods.
- Balance Sheet Policy: Reviewing the advantages, costs, and institutional impact of the Fed’s balance sheet approach.
- Data: Improving the reliability and speed of economic indicators used for policy decisions.
- Productivity and Jobs: Assessing the impact of AI and other general-purpose technologies on employment and economic growth.
- Inflation Frameworks: Reconsidering how inflation drivers are analyzed and addressed.
The Productivity and Jobs group includes venture capitalist Marc Andreessen, who believes AI can drive major gains in productivity and employment, along with Microsoft Xbox CEO Asha Sharma. Former Walmart CEO Doug McMillon is part of the Data task force.
Nasdaq advances as oil prices and Treasury yields decline; Bitcoin holds near $63K
U.S. stocks moved higher Thursday as easing oil prices and softer bond yields improved market sentiment.
The Nasdaq gained 1.25%, supported by strong performances from AI-related companies including Micron Technology, SanDisk, and AMD.
Investor concerns over the Iran conflict eased, pushing WTI crude prices back toward $70 per barrel while Treasury yields moved lower.
Bitcoin remained stable above $63,000, rising 1.6% over the previous 24 hours. Ethereum also gained 0.75% to trade at $1,751.
STRC remains below target value despite Strategy’s efforts to reassure investors
Strategy and Michael Saylor have taken steps to reinforce confidence in their preferred stock offerings, particularly STRC.
The company recently sold nearly 4,000 Bitcoin and allocated the proceeds into a reserve fund designed to support dividend payments. Including existing holdings, Strategy now has enough reserves to cover around 17.4 months of dividends.
Despite nearing the institutional benchmark of 18 months of coverage, STRC continues trading below its $100 par value. The shares remain around $85, reflecting a 15% discount and continued investor caution.
AI infrastructure stocks may be undervalued relative to existing contracts
Several AI data center companies linked to Bitcoin mining may be trading below the value of their signed customer agreements, according to Compass Point research.
The report argued that investors should view AI data centers as real estate-like assets that generate recurring revenue from contracted leases.
Applied Digital was highlighted as the strongest example, with signed contracts estimated at about $27.6 billion after construction costs, compared with an enterprise value of roughly $16.7 billion.
The analysis also pointed to TeraWulf and Cipher Mining as potentially undervalued, while Core Scientific and Riot Platforms have received greater market recognition for their existing contracts and expansion plans.
MARA shares jump 14% after Texas energy site acquisition
MARA Holdings surged 14% after announcing the purchase of a powered land site in Matagorda County, Texas, from renewable energy company HIF.
The 1,200-acre property is expected to provide access to as much as 2 gigawatts of power by 2028, supporting AI data centers, high-performance computing, and Bitcoin mining operations.
The acquisition could raise MARA’s potential energy capacity to approximately 4.8 gigawatts as the company expands its digital infrastructure business.
Zuckerberg unveils Muse Spark 1.1 AI model after returning to X
Meta CEO Mark Zuckerberg returned to X after a three-year break to announce Muse Spark 1.1, the company’s latest large language model focused on AI-powered agents.
The model features a one-million-token context window and supports task delegation through multiple AI sub-agents.
Zuckerberg claimed Muse Spark 1.1 outperformed Google’s Gemini 3.1 Pro, OpenAI’s GPT-5.5, and Anthropic’s Opus 4.8 across several agent-based benchmarks.
The announcement comes as Meta prepares to manufacture its own “Iris” AI chip starting in September. Meta shares were trading about 0.75% lower at $598.65.
Bitcoin returns to $63K as crypto markets recover from recent decline
Bitcoin climbed back to the $63,000 level Thursday as cryptocurrencies attempted to recover from Wednesday’s losses.
BTC gained around 2.4% in the past 24 hours, while Ethereum, XRP, and Solana also moved higher.
The broader market improved, with the Nasdaq rising 0.7% and the S&P 500 adding 0.5%.
Lower oil prices and retreating bond yields helped ease pressure on risk assets after renewed Iran tensions triggered market uncertainty.
Semiconductor shares rally as Meta expands AI chip ambitions
AI-related chip stocks gained after Meta revealed plans to begin producing its own “Iris” AI processor in September.
The initiative aims to expand Meta’s computing capabilities while reducing dependence on Nvidia and AMD.
The move could benefit technology suppliers such as Broadcom, TSMC, Samsung, and SanDisk, while supporting gains in semiconductor ETFs.
Meta expects to spend up to $145 billion on AI infrastructure this year.
Bitcoin options market shows caution but avoids extreme fear levels
Bitcoin’s options market continues to reflect investor caution, with the 25-delta skew reaching 18%, indicating increased demand for downside protection.
Although the reading shows concern among traders, it remains far below the extreme levels recorded during the 2022 FTX collapse, when the skew exceeded 40%.
The current market environment suggests investors are hedging against risks rather than entering a panic phase.
Amazon’s $25B bond sale shows slowing appetite for AI funding
Technology giants are increasingly using debt markets to finance major AI infrastructure projects instead of relying on equity funding.
However, investor demand appears to be weakening. Amazon’s $25 billion bond offering attracted orders worth about 1.6 times the amount issued, below the average demand seen in recent large technology debt deals.
SK Hynix U.S. listing attracts major investor demand amid market volatility
SK Hynix’s upcoming U.S. listing reportedly received demand more than seven times the number of shares offered, with interest coming from global funds, sovereign wealth investors, and technology-focused institutions.
The offering of nearly 178 million American depositary receipts could raise close to $25 billion.
Despite strong demand, South Korea’s AI-related stocks faced volatility, with Samsung and SK Hynix shares declining sharply. Bitcoin remained near $62,700 as investor focus continued shifting toward AI infrastructure opportunities.
Oil prices decline as Treasury yields stabilize
Oil prices moved lower as investors assessed renewed tensions between the U.S. and Iran following the collapse of a ceasefire.
Brent crude fell below $73 per barrel, while Bitcoin gained roughly 1% to trade near $63,000.
Precious metals recovered from recent losses, while U.S. Treasury yields stabilized after a sharp increase. The 10-year yield remained above 4.5%, continuing to create pressure for risk assets.
Bitcoin ETFs return to losses while Ethereum ETFs maintain inflow momentum
U.S. spot Bitcoin ETFs recorded about $85 million in net outflows on Wednesday, reversing a three-day inflow streak that had brought in approximately $509 million.
BlackRock’s IBIT saw around $59 million leave the fund, Grayscale’s GBTC lost nearly $64 million, and Fidelity’s FBTC recorded roughly $15 million in withdrawals. Grayscale’s Bitcoin Mini Trust was the only major Bitcoin ETF to post inflows, adding nearly $53 million.
Total Bitcoin ETF assets declined to around $75 billion.
Meanwhile, Ethereum ETFs continued their strong performance, attracting about $70 million in inflows for the fifth straight session. Fidelity’s FETH led the gains with nearly $69 million in new investments.
Bitcoin traded near $62,300, while Ethereum hovered around $1,740. Both assets declined roughly 3% during the session, though Ethereum continued to outperform Bitcoin due to stronger ETF demand and renewed ecosystem optimism.
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