Core inflation rose less than expected in May, but markets still weakened during afternoon trading as sentiment turned cautious.
AI spending surge adds another $40B in funding plans
Alongside its earnings release, Oracle (ORCL) said it plans to raise about $40 billion through debt and equity issuance in fiscal 2027 to finance AI-related capital expenditures. This is in addition to a previously announced $20 million at-the-market equity program.
Oracle shares slipped 1.6% in after-hours trading.
The announcement follows Google’s $85 billion capital plans, reports that Meta may be considering a similarly large fundraising effort, and comes just hours before the expected $80 billion SpaceX IPO.
Capital rotation away from crypto assets appears likely to continue.
Strategy CEO: bitcoin sale not tied to dividend needs
Speaking to CNBC, Strategy (MSTR) CEO Phong Le said the recent bitcoin sale was intended to reduce market uncertainty, test internal selling operations (since the company is far more experienced in buying than selling), and capture tax losses, which it expects to do more frequently going forward.
He emphasized that dividend funding was not a motivation, noting that Strategy has other financing tools available.
Le also acknowledged that capital is currently flowing toward the SpaceX IPO and AI-driven trades but expects that trend to eventually reverse back into crypto.
Cramer calls bitcoin and gold “bad money” amid SpaceX-driven flows
Jim Cramer described bitcoin and gold as “bad money being sold for SpaceX,” while labeling Apple and Nvidia as “good money” being liquidated.
Bitcoin traded near $61,800, essentially flat over 24 hours. Gold declined 4.2% to $4,109 per ounce, roughly 20% below its January peak.
Meanwhile, the Nasdaq extended its June losses ahead of the SpaceX IPO, falling 1.8% and now down about 7% for the month.
Bitcoin miners fall as AI-linked stocks come under pressure
Bitcoin miners—now increasingly tied to AI data center expansion rather than pure mining economics—sold off alongside broader tech weakness.
Despite recent strength in the sector, Hut 8 (HUT), CleanSpark (CLSK), TeraWulf (WULF), and Cipher Mining (CIFR) fell 5%–7% as the Nasdaq declined.
Bitcoin itself remained mostly unchanged near $61,900.
Oil jumps 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 comments.
While equities weakened, bitcoin briefly moved higher toward $62,400 before stabilizing, showing a short-lived divergence from broader risk-off trading.
Bitcoin slips below $62K as risk appetite fades
After an early rebound, U.S. markets turned lower, with the Nasdaq down around 1%.
Geopolitical tensions and anticipation of the SpaceX IPO added pressure following stronger-than-expected inflation data.
Bitcoin slipped back toward $61,900 after briefly reclaiming $62,000, still slightly positive on the session.
BlackRock details Bitcoin income ETF fee
BlackRock disclosed a 0.65% management fee for its proposed Bitcoin Premium Income ETF (BITA), indicating the product could launch soon.
The fee is higher than its spot bitcoin ETF but lower than competing covered-call funds.
The strategy generates yield by selling bitcoin options, though it can limit upside participation during strong price rallies.
Bitcoin rises above $62K on softer inflation data
Bitcoin climbed above $62,300 after weaker-than-expected inflation data boosted risk sentiment.
Equities also rebounded, while gold dropped more than 2%.
Crypto-related stocks such as Strategy (MSTR), Robinhood (HOOD), and Coinbase (COIN) gained alongside AI-linked mining companies.
Fold rallies after bitcoin sale reduces debt
Fold Holdings (FLD) surged about 100% after announcing it sold bitcoin at roughly $71,000 per coin to raise $45 million.
A portion of the proceeds was used to repay bitcoin-backed debt, while the rest supported cash reserves and growth initiatives.
The company continues to hold a meaningful bitcoin position.
CPI comes in softer than expected
U.S. CPI rose 0.5% month-over-month and 4.2% year-over-year, matching expectations.
Core CPI increased just 0.2% monthly versus forecasts of 0.3%, with annual core inflation at 2.9%.
Bitcoin edged higher on the softer reading, trading near $61,500, while Nasdaq futures trimmed earlier losses.
Markets fall ahead of inflation print
Markets weakened ahead of the CPI release as investors braced for persistent inflation pressures.
Nasdaq futures fell 1.5%, and S&P 500 futures dropped about 1%.
Bitcoin declined nearly 3% to around $61,000, while Treasury yields stayed elevated, reflecting expectations of tighter monetary policy for longer.
Bitcoin profitability moves toward bear-market levels
On-chain data shows bitcoin profitability is slipping toward levels typically seen in late-stage bear markets.
Around 45% of supply remains in profit, meaning most holders are now underwater.
Historically, such conditions have often preceded market bottoms as weaker participants exit and long-term holders accumulate.
Hut 8 raises $4.25B for AI expansion
Hut 8 secured $4.25 billion in debt financing to build a large-scale AI-focused data center in Texas.
The project will deliver a 352-megawatt facility leased to an investment-grade tenant.
The deal marks one of the company’s largest funding rounds as it expands deeper into AI infrastructure.
Markets slide ahead of CPI data
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 positioned for sticky inflation readings.
Gold declined while Treasury yields rose, reinforcing expectations that interest rates may remain elevated.
Bitcoin mining difficulty set for steep drop
Bitcoin mining difficulty is expected to post its largest decline since February.
The adjustment follows a drop in hash rate, driven by rising energy costs and miners shifting toward AI and high-performance computing.
Some mining firms are also selling bitcoin and reallocating capital into infrastructure-focused businesses.
Oil volatility eases, Bitcoin volatility rises
Oil market volatility has returned to pre-conflict levels as geopolitical tensions cool.
Meanwhile, bitcoin volatility has increased due to ETF outflows, macro uncertainty, and shifting investor positioning.
SpaceX IPO pressure weighs on crypto markets
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 softens
Some ETF analysts say bitcoin’s technical structure has weakened, with price trading well below key moving averages.
While short-term rebounds remain possible, sentiment stays cautious unless BTC reclaims higher levels.
AI narrative strengthens across markets
Recent AI model releases have reinforced the dominance of the artificial intelligence investment theme.
Crypto is increasingly trading in line with macro liquidity conditions, with large-cap tokens responding more to capital flows than sector-specific catalysts.
About The Author
More Stories
Ripple’s XRP Facing Artificial Pressure? Analyst Explains Missing Breakout
Citi Moves Into Real-World Assets With Private Company Share Tokenization Platform
Hackers Exploit Old Solana Pools in $1.34M Raydium LP Token Incident