Bitcoin Dips Below $59K on Waning Demand

Here’s a tighter, more streamlined rewrite with a sharper market-news tone:

BlackRock’s IBIT logged roughly $300 million in outflows, with smaller ETFs absorbing part of the shift as capital rotates. The move coincides with a broader AI-driven rally sweeping Asian markets, echoing recent trends seen in South Korea.

Wintermute: No Clear Bottom Yet

Wintermute says crypto markets are flashing capitulation signals—weak sentiment, rising unrealized losses, and bitcoin hovering near its 200-week average—but demand remains absent.

While bitcoin has historically benefited from excess liquidity, those inflows have yet to return. ETF outflows persist and OTC activity is muted as investors pivot toward AI-related trades.

Jasper De Maere added that seasonality could delay a turnaround, with markets rarely bottoming in summer. He sees potential downside into early autumn, with recovery hinging on macro shifts.

Strategy Stocks Pull Back

Shares of Strategy (MSTR) and its STRC preferred stock are set to open lower, signaling a pause after recent gains.

Bitcoin traded near $58,800, down about 3% over 24 hours. Pre-market, MSTR slid 6% and STRC dropped 3.6%, while U.S. equity futures remained flat.

Gold Heads for Weakest Quarter Since 2013

Gold is on track for its worst quarterly performance in over a decade, pressured by higher rate expectations and a stronger dollar.

Prices have fallen roughly 13% this quarter, mirroring bitcoin’s decline and marking its third consecutive quarterly loss. Meanwhile, the Nasdaq is up करीब 20%, underscoring strong flows into AI-linked equities.

Strive’s STRC Bet Underwater

Strive Asset Management is sitting on an estimated $12 million loss on its STRC investment.

Its $50 million position has dropped to about $37.7 million, with further declines seen in pre-market trading.

Hyperliquid Strategies Joins Major Indexes

Hyperliquid Strategies has been added to the Russell 3000, Russell 2000, and S&P Global BMI indexes during FTSE Russell’s annual reconstitution.

The firm holds over $1.14 billion in HYPE tokens, which have modestly outperformed the broader market in recent days.

Dollar Strength May Be Peaking

Economist Robin Brooks suggested the U.S. dollar may be nearing a top, with bullish positioning crowded.

A reversal—especially on weaker economic data—could offer support to both bitcoin and gold.

Miners Shift Toward AI

Ionic Digital is ramping up its pivot into AI infrastructure.

The company raised $400 million ahead of a planned Nasdaq debut, with AI revenue now outpacing its bitcoin mining operations.

ETF Outflows Continue Amid AI Rotation

Spot bitcoin ETFs recorded $231 million in net outflows, led by IBIT’s $300 million exit.

At the same time, global equities—particularly in Asia—are surging on AI momentum, while crypto markets lag as capital continues rotating into tech and semiconductor names.

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