june

According to Wintermute OTC trader @Jjay_dm, the BTC ETF experienced a net outflow of $463 million, marking the first negative value since the low in June, with ARK and Grayscale accounting for a combined outflow of $371 million, while BlackRock remained flat. As a result, BTC fell 4.4% over the week, closing at $76,838, making it the worst-performing asset, while Ethereum dropped 1.5%, and altcoins overall rose by 1%.On a macro level, the U.S. August CPI recorded a month-on-month increase of 0.4% (core 0.3%), higher than the expected 0.2%, and the PPI annual rate reached 5.4%, prompting Goldman Sachs to change its September forecast from "hold steady" to "raise interest rates." The market's expectation for a 25bp rate hike on Wednesday has risen to 87%. Meanwhile, the situation in the Middle East continues to escalate, with Brent crude oil surpassing $105 per barrel, and the 10-year U.S. Treasury yield hitting a 20-year high.Wintermute stated that after the ETF fund outflow turned negative, it tends to hold a neutral rather than bullish stance on the market. This week has two key events: ① On Tuesday, the U.S. Senate will conduct a procedural vote on the CLARITY Act (the cryptocurrency market structure bill), which requires 60 votes to pass; ② On Wednesday, the Federal Reserve will announce its interest rate decision, with the rate hike itself already priced in, but subsequent hawkish statements (especially signals regarding continued rate hikes in the first quarter of 2027) may pose downward pressure on the cryptocurrency market.

The seasonally unadjusted CPI in the United States for August recorded a monthly rate of 0.4%, the highest since June of this year, in line with expectations, with the previous value being 0.1%. The seasonally unadjusted CPI year-on-year for August recorded 3.4%, meeting expectations and unchanged from the previous value.

The research institution Sage Road Research released an executive summary of "The AI Trade," stating that since the beginning of this year, the Magnificent Seven has underperformed the Russell 3000 index by about 8 percentage points and the MSCI ACWI by nearly 9 percentage points. In July, the CBOE NDX volatility index relative to the VIX reached its highest point since the internet bubble, and after entering a correction, the Nasdaq index saw a 5% rebound over four days. As of the writing of the report, AI company stock prices have dropped 20% from their 52-week highs in June.Companies are struggling to achieve returns on investment amid soaring AI costs, with Uber, Amazon, Meta, and Walmart implementing restrictions on employee AI usage. Model homogenization limits pricing power, and Chinese open-source models have become a cheap alternative to OpenAI and Anthropic. AI capital expenditures have exceeded expectations, with the consensus for 2026 rising from $527 billion at the end of 2025 to about $800 billion by mid-year. Capital expenditures for hyperscale cloud providers in 2027 are expected to account for 3% of U.S. GDP, more than double the peak of 1.2% during the late 1990s telecom fiber construction. Allianz Research calculates that there is nearly a 46% growth gap between AI investment and sales, worse than the 32% during the 2001 telecom bubble.As of June, hyperscale cloud providers and related entities like Nvidia issued $225 billion in bonds, a year-on-year increase of 973.7%. The off-balance-sheet liabilities of tech giants have increased eightfold over four years to $1.65 trillion.

Bitcoin News posted on platform X stating that the International Monetary Fund mentioned that El Salvador has accumulated Bitcoin since June 2025 without using public funds, and this accumulation reflects private donations.El Salvador disclosed in November 2025 that it purchased 1,090 Bitcoins, valued at approximately 100 million dollars, increasing its Bitcoin holdings to 7,474 coins. The International Monetary Fund also stated that El Salvador is improving the transparency of Bitcoin holdings across various wallets and strengthening the governance and risk management of public sector crypto asset holdings.

The sandwich attack bot operated by JaredfromSubway.eth has extracted a total of 117,007 ETH since March 2023, amounting to approximately $295 million at current prices. In June 2026, an anonymous attacker deployed 66 counterfeit token contracts, using the bot's automated trading logic to steal at least $7.5 million in ETH and stablecoins, transferring the funds to Tornado Cash; the related assets have not yet been recovered.Sandwich attacks are a form of Maximum Extractable Value (MEV): the bot monitors large transactions in the Ethereum public mempool, buys before the target transaction, and sells after the transaction drives up the price, extracting profits from the price difference. As of August 28, the main contract of the bot has received a total of 117,007 ETH.MEV-Boost block construction is concentrated among a few participants, with relay.ultrasound.money, Titan Relay, and bloXroute relays forwarding approximately 85% to 88% of the relevant blocks within a 24-hour window; Titan's builders independently assemble 50.3% of the blocks. The monthly extraction amount from sandwich attacks has decreased from about $10 million at the end of 2024 to about $2.5 million in October 2025.

According to Santiment Intelligence monitoring, since June 3, the ETH exchange platform balance has decreased from approximately 7.69 million to about 6.28 million, a reduction of about 1.4 million, representing a decline of about 18%. Since August 19, another approximately 275,000 ETH has flowed out of the exchange platform, bringing the current balance to the lowest level of this statistical period.During the same period, the BTC exchange platform balance has increased by about 0.25%, currently nearing recent range highs. In this regard, Santiment stated that the decline in ETH exchange platform balance has not stopped due to the price increase; while the ETH price has risen by about 27% since August 16, a large amount of ETH continues to flow out of the exchange platform.

The ETH/BTC ratio has recently formed a "golden cross," where the 50-day moving average breaks above the 200-day moving average. Since the beginning of June, ETH has consistently outperformed BTC, with the ETH/BTC ratio rising about 25% from the low on June 6.Historical data shows that the performance of ETH/BTC after a golden cross has been inconsistent. After the golden cross on July 25, 2025, the ratio rose about 36% in the following four weeks but then turned to decline; after the golden cross in February 2021, it initially rose about 93%. However, the two golden crosses in May and August 2022 failed to maintain an upward trend. CoinDesk points out that the golden cross is a lagging indicator based on historical prices and does not necessarily mean that ETH will continue to outperform BTC thereafter.

On August 23, the financial disclosure released by the U.S. Office of Government Ethics showed that Trump conducted over 1,000 securities transactions in June, with a total transaction amount ranging from $78.1 million to $263.1 million. Among them, cryptocurrency-related transactions involved Coinbase, Strategy, and Robinhood. Overall, the scale of cryptocurrency-related stock trading was relatively limited, accounting for a low proportion of his total securities transactions in June.Specifically, regarding Coinbase, Trump sold stocks worth $15,001 to $50,000, $100,001 to $250,000, and $1,001 to $15,000 on June 12, 18, and 23, respectively, and purchased stocks worth $50,001 to $100,000 on June 24; regarding Strategy, he sold stocks worth $1,001 to $15,000 and $15,001 to $50,000 on June 23 and 24, respectively; regarding Robinhood, he purchased stocks worth $1,001 to $15,000 on June 3.

The financial disclosures released by the U.S. Office of Government Ethics on Saturday show that Trump conducted over 1,000 securities transactions in June, with a total transaction amount ranging from $78.1 million to $263.1 million. Among them, crypto-related transactions involved Coinbase, Strategy, and Robinhood. Overall, the amount of crypto-related stock transactions was relatively limited, accounting for a low proportion of his total securities transactions in June.Coinbase: Sold Coinbase stocks worth $15,001 to $50,000, $100,001 to $250,000, and $1,001 to $15,000 on June 12, 18, and 23, respectively, and bought Coinbase stocks worth $50,001 to $100,000 on June 24;Strategy: Sold Strategy stocks worth $1,001 to $15,000 and $15,001 to $50,000 on June 23 and 24, respectively;Robinhood: Bought Robinhood stocks worth $1,001 to $15,000 on June 3.

According to Bloomberg, financial disclosures released by the U.S. Office of Government Ethics on Saturday show that Trump conducted over 1,000 securities transactions in June, with a total transaction value ranging from $78.1 million to $263.1 million, including purchases of stocks from companies such as Berkshire Hathaway, Visa, Mastercard, and Cintas. The largest transaction was the sale of an ETF from Vanguard worth between $5 million and $25 million on June 22.Trump also purchased Palantir stock valued between $1,001 and $15,000 on June 3, and subsequently sold positions worth between $15,001 and $50,000 and between $500,000 and $1 million on June 16 and 18, respectively, and bought again on June 23 and 24. Other transaction targets included Coinbase, Meta, and Home Depot. The disclosures indicate that Trump conducted over 21,000 securities transactions in 2025, with a total value ranging from $600 million to $1.86 billion. The White House stated that the related investments are managed by an independent entity, and there are no conflicts of interest; Trump's son Eric stated that these assets have been placed in a blind trust.

The US Dollar Index DXY fell to 99, the first time since June, down 0.65% during the day.

According to Gate market data, Baidu (BIDU.O) stock price fell by 10%, marking the largest single-day decline since June 5.

On-chain analysis platform Santiment pointed out that the Bitcoin exchange balance has risen to its highest level since June 15, as the supply crunch frequently mentioned in the ETF inflow narrative has basically been resolved. Data shows that the exchange BTC balance decreased from about 1.337 million coins on June 12 to about 1.304 million coins on July 28, a decrease of about 33,000 coins, or approximately 2.5%.Subsequently, the trend reversed, and the balance rebounded after hitting a low on July 28, reaching about 1.332 million coins by August 16, with about 28,000 coins flowing back, equivalent to 84% of the previous outflow. In recent days, the supply replenishment has stabilized, with the balance stagnating around 1.332 million coins, still about 5,200 coins lower than the peak in June.Santiment stated that this indicator can coexist with strong ETF inflows, as subscriptions can be provided by OTC desks and existing holders without needing to withdraw from visible exchange wallets. This tightening took about six weeks to form but was basically unwound in less than three weeks.

The U.S. Securities and Exchange Commission documents show that the Swiss National Bank held 1.5 million Class A shares of SpaceX (SPCX.O) as of June 30.

On-chain analyst Yu Jin posted on the X platform, stating that since the end of June, Strategy has sold a total of 6,948 BTC, with an average selling price of $62,146, which is lower than its average cost price of $75,000, resulting in a loss of $93.12 million.

According to data from the Bank of Korea, South Korea's current account surplus in June reached 49.73 billion USD, setting a monthly record for the second consecutive month, further expanding from 38.61 billion USD in May, and compared to 13.97 billion USD in the same period last year. The cumulative surplus for the first half of the year was 191.01 billion USD, the highest in history for the same period, exceeding the Bank of Korea's previous annual target of 250 billion USD by 76%. The goods trade surplus of 47.89 billion USD also set a monthly record, with exports increasing by 84.5% year-on-year to 112.37 billion USD, surpassing the 100 billion USD mark for the first time, among which chip exports soared by 196.9%, and computer peripherals grew by 282.7%.South Korea's current account has maintained a surplus for 38 consecutive months since May 2023. The services account deficit widened to 1.29 billion USD, mainly influenced by increased payments related to intellectual property; the travel account surplus was 440 million USD, the second highest since October 2008. The current account surplus for South Korea in 2025 is projected to be 123.05 billion USD, setting a historical annual record.

According to Gate data, the intraday increase in spot gold has expanded to 3%, reported at $4368.18 per ounce, the highest level since June 17. The U.S. non-farm payrolls for July decreased by 23,000, while the market estimated an increase of 80,000, with the previous value being an increase of 57,000.

According to Gate market data, spot gold has broken through the $4,300/ounce mark for the first time since June 18, with a cumulative increase of $250 this week and a daily increase of over 1%.

According to Gate market data, NVIDIA's stock price has risen over 4%, currently reported at $220.43 per share, reaching a new high since June 4, with a total market capitalization of $5.33 trillion. NVIDIA's stock price has increased for 5 consecutive days.