War drives oil up, the Kimi selloff drags chips down, and bitcoin sits between them.
A deepening global selloff in chipmakers dragged risk assets lower, pulling bitcoin back from the $65,000 it reached on this week's soft inflation print.
Blockchain investigator ZachXBT came down heavily on hardware wallets. BTC traded steady near $65,000 after South Korea's rate hike.
U.S. spot bitcoin ETFs took in about $181 million on Tuesday, a day after shedding roughly $425 million, per SoSoValue data. Ether ETFs added about $58 million.
Trump reinstated the Hormuz blockade, sending oil higher and rate-hike bets up, reversing the peace trade that helped bitcoin recover in early July. Today's inflation print is the next test.
The liquidations were minor, running at about a sixth of what the market saw at its worst over the past 30 days, per CoinGlass.
Spot bitcoin funds lost about $95 million on Thursday and ether funds roughly $52 million, ending the one bright spot in crypto's institutional flows even as prices rallied.
U.S. spot bitcoin ETFs lost a net $84 million on Wednesday, ending a three-day inflow run that had pulled in roughly $509 million
Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30.
Spot bitcoin ETFs still lost a net $526.6 million over the shortened holiday week, an eighth straight week of negative flows.
Bitcoin touched $63,882 overnight before retreating to around $62,900, per CoinDesk data. Sunday's high held briefly before sellers pushed it back down.
The record outflow beat the previous worst month by 29% and came on nine consecutive days of redemptions to close the period.
IBIT alone shed $300 million while smaller funds absorbed some of the outflow. The selloff lands as the same AI trade that crashed Korea a week ago now powers a record quarterly rally there.
U.S. equity futures rose after reports the U.S. and Iran agreed to halt strikes and resume talks. Bitcoin has barely moved, still down 6.8% on the week.
BTC sees a relief bounce as Asian stocks wilt following sharp losses on Wall Street.
A liquidation flush took bitcoin to its lowest since early June before Micron's blowout earnings and SK Hynix's U.S. listing plans steadied the AI trade that crypto had been sliding alongside.
Trading firm Wintermute's options desk puts bitcoin in a $61,242 to $63,563 range for Tuesday, with correlation rising across tokens and no fresh ETF bid in sight.
After nearly two years of declines, alts have run out of sellers and steadied, while bitcoin has dropped hard, sliding back toward $63,600.
Eased ETF selling and improving risk appetite are being offset by a firmer dollar and cautious institutional flows, leaving bitcoin range-bound, one analyst said.
About 20% of miners are now unprofitable, and publicly traded miners sold more than 32,000 bitcoin in the first quarter to cover operating costs, more than they offloaded in all of 2025.
Total market value has held flat near $2.26 trillion since Tuesday, with the recovery losing momentum after the Fed killed rate-cut hopes and spot ETFs swung back to outflows.
Bitcoin's Sharpe ratio hit a level that has marked every cycle low since 2015, but in each case it preceded months of basing rather than an immediate rebound.
Ether, XRP, Solana and Hyperliquid funds all took in money, but bitcoin's outflow was really just Grayscale's GBTC.
Crypto firmed across the board on the largest listing in history, but the token most tied to Elon Musk traded right in line with the market.
May CPI ran hot on energy and cooler underneath, lifting majors on Thursday, though ether and the large alts are still down 6% to 8% over seven days.
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