Markets Turn Cautious as Bitcoin Lingers Under $62K and Nasdaq Slides
Core inflation rose less than expected in May, but markets still turned lower in afternoon trading as sentiment weakened.
AI capital boom adds another $40B in funding plans
Alongside its earnings report, Oracle (ORCL) said it plans to raise around $40 billion through debt and equity issuance in fiscal 2027 to support AI-related capital spending. This comes on top of a previously announced $20 million at-the-market equity program.
Oracle shares fell 1.6% in after-hours trading.
The move follows Google’s $85 billion capital plans, reports that Meta may be considering a similarly large raise, and arrives just hours before the expected $80 billion SpaceX IPO.
The broader rotation of capital away from crypto markets appears likely to continue.
Strategy CEO: bitcoin sale wasn’t for dividends
Speaking to CNBC, Strategy (MSTR) CEO Phong Le said the company’s recent bitcoin sale was aimed at calming market concerns, testing internal execution for selling (since the firm is far more experienced on the buying side), and capturing tax losses—something the company expects to do more frequently.
He clarified that dividend funding was not a reason for the sale, noting that Strategy has other financing options available.
Le also acknowledged that capital is currently flowing into the SpaceX IPO and AI-driven trades, though he expects that trend to eventually reverse back into crypto.
Cramer labels bitcoin and gold “bad money” in SpaceX rotation
Jim Cramer described bitcoin and gold as “bad money being sold for SpaceX,” while calling Apple and Nvidia “good money” being liquidated.
Bitcoin traded near $61,800, flat over 24 hours. Gold fell 4.2% to $4,109 per ounce, about 20% below its January high.
Meanwhile, the Nasdaq extended its June decline ahead of the SpaceX IPO, dropping 1.8% on the day and now down roughly 7% for the month.
Bitcoin miners hit as AI-linked names weaken
Bitcoin miners—now increasingly tied to AI data center expansion rather than mining economics—fell sharply alongside tech stocks.
Despite recent strength, Hut 8 (HUT), CleanSpark (CLSK), TeraWulf (WULF), and Cipher Mining (CIFR) dropped 5%–7% as the Nasdaq came under pressure.
Bitcoin itself stayed largely unchanged near $61,900.
Oil spikes after Trump comments on Iran
Oil prices surged after President Trump said the U.S. would continue strong strikes on Iran.
WTI crude rose 3.3% to $91.11 per barrel following the remarks.
While equities fell, bitcoin briefly rallied toward $62,400 before stabilizing, showing a short-lived divergence from broader risk-off moves.
Bitcoin dips below $62K as risk assets weaken
After an early bounce, U.S. equities reversed lower, with the Nasdaq down about 1%.
Geopolitical tensions and anticipation of the SpaceX IPO added to pressure following stronger-than-expected inflation data.
Bitcoin slipped back toward $61,900 after briefly moving above $62,000, still slightly positive on the session.
BlackRock sets fee for Bitcoin income ETF
BlackRock disclosed a 0.65% fee for its proposed Bitcoin Premium Income ETF (BITA), signaling the product may launch soon.
The fee is higher than its spot bitcoin ETF but lower than competing covered-call strategies.
The fund generates yield by selling bitcoin options, though this approach may reduce upside exposure during strong rallies.
Bitcoin rises above $62K on softer inflation
Bitcoin climbed above $62,300 after cooler-than-expected inflation data boosted risk appetite.
Equities also recovered, while gold declined more than 2%.
Crypto-linked stocks such as Strategy (MSTR), Robinhood (HOOD), and Coinbase (COIN) also advanced alongside AI-focused mining names.
Fold jumps after bitcoin sale to reduce debt
Fold Holdings (FLD) surged roughly 100% after announcing it sold bitcoin at about $71,000 per coin to raise $45 million.
Part of the proceeds was used to pay down bitcoin-backed debt, with the remainder allocated to cash reserves and growth plans.
The company still retains a meaningful bitcoin position 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, in line with forecasts.
Core CPI increased just 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
Markets weakened ahead of the CPI release as investors braced for persistent inflation.
Nasdaq futures fell 1.5% and S&P 500 futures slipped about 1%.
Bitcoin dropped nearly 3% to around $61,000, while Treasury yields stayed elevated, reflecting expectations of tighter monetary policy.
Bitcoin profitability falls toward bear-market zone
On-chain data shows bitcoin profitability is sliding toward levels typically seen in late-stage bear markets.
About 45% of supply remains in profit, meaning most holders are now underwater.
Historically, such conditions have preceded market bottoms as weaker investors exit and long-term holders accumulate.
Hut 8 raises $4.25B for AI buildout
Hut 8 secured $4.25 billion in debt financing to develop a large AI-focused data center in Texas.
The project will deliver a 352-megawatt facility leased to a high-credit tenant.
The deal marks one of the company’s largest expansion financings as it pivots deeper into AI infrastructure.
Markets slide ahead of CPI
Markets moved lower ahead of inflation data, with both equities and crypto under pressure.
Bitcoin and Nasdaq futures each fell more than 1% as investors prepared for sticky inflation readings.
Gold declined while Treasury yields rose, reinforcing expectations that interest rates may stay higher for longer.
Bitcoin mining difficulty set for sharp drop
Bitcoin mining difficulty is expected to post its largest decline since February.
The drop follows a fall in network hash rate, driven by rising energy costs and miners shifting toward AI and high-performance computing.
Some miners are also selling bitcoin and reallocating capital into infrastructure businesses.
Oil volatility cools, Bitcoin remains volatile
Oil volatility has returned to pre-conflict levels as geopolitical tensions ease.
In contrast, bitcoin volatility has increased due to ETF outflows, macro uncertainty, and shifting investor positioning.
SpaceX IPO pressure weighs on crypto liquidity
Ahead of the SpaceX IPO, leveraged crypto contracts tied to the listing have weakened.
The move reflects broader risk-off sentiment and capital rotation into major equity offerings.
Bitcoin technical outlook weakens
Some ETF analysts say bitcoin’s chart structure has deteriorated, with price trading well below key moving averages.
While short-term rebounds are possible, sentiment remains cautious unless BTC regains higher technical levels.
AI narrative dominates market sentiment
New AI model releases have strengthened the artificial intelligence investment theme.
Crypto is increasingly reacting to macro liquidity and risk sentiment, with large-cap tokens moving more in line with broader capital flows than sector-specific catalysts.
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