Here’s a clean, professional paraphrased version with a tight market-news tone:
BlackRock’s IBIT recorded $300 million in outflows, though smaller funds absorbed part of the selling pressure. The move comes as the same AI-driven trade that recently triggered volatility in South Korea is now fueling a record quarterly rally across the region.
Wintermute: Crypto Market Yet to Find a Bottom
Crypto market maker Wintermute said the current downturn shows signs of capitulation, including weak sentiment, a growing share of supply held at a loss, and bitcoin hovering near its 200-week moving average. However, a key element is still missing—strong buying demand.
Bitcoin has acted as a release valve for excess liquidity, but that liquidity has yet to rotate back into crypto. ETFs are experiencing notable outflows, while over-the-counter demand remains muted as capital shifts toward AI-related investments.
Wintermute’s Jasper De Maere noted that seasonal trends are also unfavorable, as markets rarely bottom during the summer and accumulation is unlikely amid thin trading volumes. He expects further downside pressure into September or October, with recovery dependent on broader macroeconomic conditions.
Key near-term catalysts include U.S. jobs data, bitcoin’s ability to hold long-term support levels, how Strategy’s STRC performs under its new framework, and whether enthusiasm around AI cools enough to redirect liquidity back into crypto.
Strategy Stocks Slide After Brief Rally
Shares of Strategy, including MSTR and its preferred stock STRC, are set to open lower, suggesting the previous session’s double-digit gains may have been short-lived rebounds.
Bitcoin continues to struggle for sustained momentum, slipping to around $58,800—down roughly 3% over 24 hours. In pre-market trading, MSTR fell 6%, while STRC declined 3.6%, as U.S. equity futures pointed to a flat open.
Gold Posts Worst Quarter in Over a Decade
Gold is on track for its steepest quarterly drop in 13 years, pressured by expectations of higher U.S. interest rates and a stronger dollar.
The metal has fallen about 13% in Q2, its weakest performance since 2013, dropping from a record $5,600 per ounce in January to just above $4,000—nearly 30% below its peak.
Bitcoin has mirrored the decline, also falling around 13% during the quarter, marking its third straight quarterly loss and signaling broader weakness across both traditional and digital assets.
Meanwhile, the tech-heavy Nasdaq is heading toward a roughly 20% quarterly gain, highlighting a sharp divergence as capital flows into AI-driven equities.
Strive Faces Losses on Strategy 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 in March to acquire 500,000 shares, the position is now valued at approximately $37.7 million. STRC slipped another 2% to $82 in pre-market trading, while MSTR fell around 3%, reversing part of the prior day’s rally.
That earlier surge followed Strategy’s announcement of a new capital framework, including a higher STRC dividend, up to $1 billion in buybacks for both common and preferred shares, and a bitcoin monetization strategy.
Hyperliquid Strategies Added to Major Indexes
Hyperliquid Strategies has been included in the Russell 3000, Russell 2000, and S&P Global BMI indexes as part of FTSE Russell’s annual reconstitution.
The Nasdaq-listed firm, which holds over $1.14 billion in HYPE tokens, joined the Russell indexes on June 29. The token has risen more than 3.4% over the past week, outperforming the broader crypto market, which declined about 3%.
Investment products tied to HYPE have attracted $164 million in inflows this month, contrasting sharply with $4.29 billion in outflows from spot bitcoin ETFs.
Dollar Strength May Be Near Its Peak
Economist Robin Brooks believes the U.S. dollar may have reached its peak strength, despite continued gains following recent geopolitical developments.
Typically, the dollar weakens as global risk conditions improve, but it has instead strengthened, suggesting crowded bullish positioning. A reversal could occur if upcoming economic data—such as jobs reports—signals slowing growth.
A weaker dollar could provide support for both bitcoin and gold.
Bitcoin Miners Pivot Toward AI
Ionic Digital is shifting aggressively into AI infrastructure, reflecting a broader trend among miners seeking higher returns.
The company raised $400 million ahead of a planned Nasdaq listing, with AI and high-performance computing generating $44 million in Q1 revenue—far surpassing the $7.4 million from bitcoin mining. It has also repurposed key facilities to support AI workloads, signaling a strategic shift across the sector.
ETFs See Outflows as AI Trade Dominates
U.S. spot bitcoin ETFs recorded net outflows of $231 million, led by IBIT’s $300 million exit, partially offset by inflows into other funds.
At the same time, global equity markets—particularly in Asia—are rallying on AI momentum. South Korea’s Kospi has surged, with major tech stocks posting massive gains, while the yen has weakened sharply as investors fund AI bets through currency trades.
Bitcoin, however, is not benefiting from this rotation. Capital is being diverted toward AI infrastructure and semiconductor plays, limiting inflows into crypto markets.
If you want, I can compress this into a short live-blog style or make it more headline-driven.
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