The Indian rupee depreciated by 2 paise to close at 94.60 against the US dollar on Tuesday, halting a two-session gain. Despite easing crude oil prices and optimism over a US-Iran peace deal, foreign capital outflows from Indian equities capped the rupee's rise.
Cryptocurrency markets saw significant gains over the weekend, with major coins like Bitcoin (BTC) and Ether (ETH) jumping on progress towards an Iran peace deal. Bitcoin reached $66.5k, while altcoins like HYPE surged 12%. This positive momentum follows a period of outflows from BTC ETFs, which began to reverse on Friday with $85M in inflows, marking the biggest day in a month.
Bitcoin ETFs have shed $2.1 billion in June, continuing a trend of outflows that has seen net assets decline by $33 billion since May 10. Experts cite macroeconomic and geopolitical factors, including the US-Israel war and inflation, as key drivers, with some predicting further volatility.
Bitcoin ETFs have shed $2.1 billion in June, continuing a trend of outflows that has seen net assets decline significantly. Experts cite macroeconomic and geopolitical factors, including inflation and the US-Israel war, as key drivers, with differing views on the market's recovery.
Indian equity benchmarks closed lower on Thursday, impacted by weak global cues, rising crude oil prices, Middle East geopolitical tensions, and selling in IT stocks. The BSE Sensex fell 0.20% and the NSE Nifty declined 0.23%.
Bitcoin is approaching its realized price, a key indicator for market bottoms, but demand is weakening, evidenced by significant Bitcoin ETF outflows and a contraction in speculative and spot demand, according to CryptoQuant.
BlackRock believes India's equity market is 'over-punished' due to lack of direct AI plays and oil price exposure. Despite foreign outflows and a tough macro environment, the asset manager sees strong medium- to long-term prospects driven by demographics, infrastructure, and indirect AI opportunities.
Crypto markets experienced a "sentiment shock" with billions in outflows from digital asset products, driven by geopolitical uncertainty, delayed rate cuts, and a rotation into AI investments. Analysts remain cautious about Bitcoin's recent rebound, citing fragile institutional confidence and continued volatility.
Spot Bitcoin ETFs saw $1.72 billion in net outflows in the week ending June 5, extending a four-week streak of billion-dollar redemptions, attributed to macro-driven risk repricing amid stronger US employment data and rising Treasury yields.
Bitcoin rebounds 7.5% from $59,353 to $63,800 amid short liquidations, but experts and market indicators suggest the outlook remains bearish due to macroeconomic pressures and fading institutional demand.
Michael Saylor attributes Bitcoin's recent 22% drop to a capital rotation towards AI development, citing over $4.3 billion in Bitcoin ETF outflows since May 14. MicroStrategy shares also fell 15% in five days.
Foreign companies are increasingly using India's IPO market to cash out investments, repatriating billions rather than raising new capital. Only one of six foreign-based companies listing Indian subsidiaries since 2024 raised new funds, with others structured as Offer for Sale (OFS).
MicroStrategy's Bitcoin holdings have fallen into significant paper losses, totaling $11.2 billion, renewing scrutiny of Michael Saylor's treasury model. The company's preferred stock also declined, complicating future funding for Bitcoin acquisitions.
US-listed spot Bitcoin ETFs experienced a record 13 consecutive days of net outflows totaling $396.6 million on Wednesday, pushing cumulative withdrawals to $4.4 billion. Bitcoin's price dropped below $63,000 as demand weakens.
US spot Bitcoin ETFs have seen 13 consecutive sessions of outflows, totaling $4.37 billion since mid-May. This trend now affects Ethereum, Solana, and XRP ETFs, with total Bitcoin fund assets dropping from $104.29B to $82.83B in three weeks. Only Hyperliquid's HYPE token funds show positive inflows.
Ether (ETH) hit a 14-week low of $1,814 on Wednesday, raising concerns about its ability to hold the critical $1,800 support level. Weak US spot demand, evidenced by low Coinbase Premium and sustained outflows from spot Ethereum ETFs, suggests potential for further losses toward $1,200-$1,600.
Crypto markets experienced a sharp downturn, with Bitcoin falling below $67k and significant ETF outflows. Senators Sanders and Warren urged the Labor Department to block crypto in 401(k)s, citing risks. Coinbase Ventures invested in Ethena's ENA token, while the US sanctioned Iranian crypto exchanges.
Indian stock markets, Nifty50 and BSE Sensex, fell over 1% due to heightened US-Iran tensions, rising crude oil prices near $97/barrel, and FII outflows. Market cap dropped by Rs 3 lakh crore.
Bitcoin fell 8% to $67,000, causing $1.5 billion in liquidations. This drop, driven by $2.1 billion in Bitcoin ETF outflows and fears of a Fed rate hike, broke its two-month correlation with small-cap stocks.
Bitcoin traders are increasingly bearish, with prediction markets favoring a drop to $55,000 over a rise to $84,000. This sentiment shift follows Strategy's BTC sale and an 11-day outflow streak from U.S. Bitcoin ETFs, totaling over $3.4 billion.
Bitcoin dropped below $70,000 for the first time in two months due to prolonged Iran war concerns and investor fund outflows. Major cryptocurrencies like Ethereum and Solana also declined, with outflows from US spot Bitcoin ETFs reaching a record 11 consecutive trading days.
Bloomberg Economics estimates the RBI sold $12 billion in gold in two weeks ending May 22 to protect foreign exchange reserves amid rising energy costs and currency pressure due to the US-Iran conflict.
Bitcoin fell below $71,000, liquidating $276M in leveraged long positions due to US-Iran tensions. Despite this, derivatives traders increased bullish exposure. Spot ETF outflows and AI sector focus also contributed to the price drop, with USDT trading at a discount.
Despite ETF inflows and exchange outflows suggesting support, XRP's price near multi-month lows indicates spot sellers are controlling the market. Thin liquidity and high derivatives activity exacerbate price volatility, making a reclaim of $1.34 crucial for bullish signals to gain traction.
