TechFlow news, on June 30, the latest report released by Wintermute shows that cooling AI trading has triggered sector rotation in the market, the Nasdaq Index fell for the fifth consecutive trading day, with a single-day drop of 4.5%, and the semiconductor sector is under significant pressure; Bitcoin fell 5.9%, breaking below $60,000 to around $59,300, and Ethereum fell 7.9%. The U.S. May Personal Consumption Expenditures Price Index (PCE) rose year-on-year to 4.1%, reinforcing expectations of higher rates for longer, and a stronger U.S. dollar is also putting pressure on crypto assets.
In terms of the crypto market, current sentiment remains in the extreme fear zone, the proportion of on-chain loss-making supply continues to rise, indicating that panic selling has occurred to some extent in the market, but the funding side has not yet improved. Crypto ETFs recorded net outflows of about $1.8 billion this week, indicating that incremental liquidity remains insufficient.
In addition, Strategy released the "Digital Credit Capital Framework", increasing the STRC dividend to 12%, and simultaneously authorized a Bitcoin sale plan of up to approximately $1.25 billion, marking the first time in the company's history that selling part of its Bitcoin has been formally allowed to cover obligations and support buybacks. Overall, although the market has entered the deep waters of a bear market, bottom confirmation signals remain insufficient, and continued observation of capital flows, macroeconomic data, as well as Bitcoin's defense of the 200-week moving average and the $58,000 range is required.
