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Market Fluctuations Under the Heat of AI

Where is the real AI bubble: Which players are swimming naked

Is the authenticity of the AI bubble difficult to discern? A breakdown of the five-layer computing power pyramid: TSMC locks in supply, optical modules become the biggest bubble, and shorts focus on depreciation and GPU credit risks.

Microsoft Build 2026 Developer Conference releases seven self-developed models in one go, the era of "Agent First" has arrived

Microsoft Build 2026 launches seven self-developed MAI models, introducing the Scout intelligent agent and system-level security sandbox MXC, bringing full-stack AI to fruition.

Jensen Huang calls out MRVL, surging 32%: What other invisible doubling stocks exist in optical modules?

Jensen Huang specifically mentions MRVL's single-day surge of 32%, a deep breakdown of the optical module industry chain reveals hidden targets in critical areas like indium phosphide, lasers, and DSPs, as NVIDIA invests billions in fiber and optical interconnections.

Hidden emphasis in Jensen Huang's GTC speech: NVIDIA's entry into PC chips, ARM is the biggest boon

Nvidia's GTC releases the RTX Spark chip, bringing triple benefits to the ARM ecosystem: a narrative upgrade for high-performance AI PCs, per-chip royalty growth, and ecological endorsement. ARM pre-market rises by 14%, but has a valuation of up to 50 times P/S, as the market has regarded it as an AI CPU platform company.

Macroeconomic Insights

Hedge by buying gold and oil, buy AI for explosive growth, "outdated" Bitcoin enters a bear market

Bitcoin fell to $66,123, marking a two-month low, while Ethereum fell in tandem. Behind the outflow of ETF funds and the reduction in Strategy, the deeper reason is that Bitcoin is losing to competition from assets like gold and AI, rendering its scarcity narrative ineffective.

In six months, "crazy earning" of 10 trillion, an average "income" of 20 million, the scale of wealth creation in Korean stocks is unprecedented

The South Korean stock market welcomes a super bull market, driven by AI and real estate policies, pushing KOSPI up 109%, with household assets appreciating by 10 trillion won. Can this wealth effect be sustained?

Seeking Alpha hot article: Why might U.S. stocks crash in June?

Investors should prepare for a severe large-scale retraction, which could be as fierce as the bear markets of 2000 and 2008. Remember, if it’s a bubble, it will eventually burst.

Korean crypto "kimchi premium" starts turning negative, a country known for crypto speculation becomes a stock speculation powerhouse

Korean retail investors are withdrawing from the crypto market, with a clear trend of net capital outflow reflected in the price structure.

The whole world is hitting new highs, while the crypto sector has become the "poor by lightning"

The surge in the South Korean stock market gives rise to the "poor by lightning", as structural absence in the crypto market intensifies, funds are pouring into U.S. stocks as Bitcoin loses favor. Beware of FOMO chasing prices, don’t let missing out force you to jump on the last train.

Institutional and Celebrity Insights

Crypto VC Variant, betting on Ethereum and Solana, is now placing $222 million on AI

From Web3 to AI Agent, the traditional crypto VC Variant bets $200 million on transformation.

IOSG: Decomposing the 2026 CEX listing path, who is pricing, who is taking over?

The 2026 bear market reshapes the logic of CEX listings, with Coinbase and ByBit leading price discovery, Binance conducting tiered filtering validation, the listing path determines return differences, and structured cognition becomes a key source of alpha.

U.S. stock pullback warning: What is the real risk of AI? An article that reveals new funding directions for software stocks, optical interconnections, SpaceX, and Bitcoin

The commercialization turning point of AI has arrived, NVIDIA and the optical interconnection sector explode; how to layout U.S. stocks and Crypto under macro liquidity reshaping? Top investor Frank decomposes the cross-market investment framework.

Seize the Opportunity

These crypto people earned $10 million in a week through arbitraging U.S. stocks

Bitcoin halved from $120,000 to $60,000, yet the crypto circle focuses on arbitrage from perpetual contracts in U.S. stocks. Samsung's annualized funding rate is 364%, and experts in Hyperliquid earned $2.4 million. Institutions are also starting to position themselves, and the early dividend window has opened.

Funds are fleeing, Bitcoin enters a turbulent summer

The AI frenzy supports new highs in U.S. stocks, but Bitcoin is under pressure against the tide. As market selling pressure surges and funds accelerate their withdrawal, Bitcoin continuously fails to hold several key psychological levels.

After cooperating on 35+ DeFi projects, Pink Brains discovers new KOL marketing rules for 2026

New thoughts on DeFi marketing: starting from user behavior, revealing KOL cooperation, real earnings, value capture tokens, and airdrop strategies, helping you seize the core trends of 2026.

Trading Reflection: Why does trading crypto become more painful over time? Actually, your brain has been "damaged" by stress

Trading psychology is the key to success or failure in crypto trading; protecting the nervous system and mental health is more important than technique. This article deeply analyzes how to avoid impulsiveness and despair, surviving for the long term in a brutal market.

Comic illustration: Helping you understand China's new foreign investment regulations

The State Council has released new foreign investment regulations, effective July 2026, blockchain companies and individuals going overseas need to pay attention to investment compliance, fund paths, and security checks; violations will face fines and restrictions.

HYPE’s market value enters the top ten, ICE publicly endorses, will Hyperliquid be "proclaimed"?

HYPE breaks $72 to create a historical high, surpassing Dogecoin to enter the global top ten by market capitalization. 90% of the protocol's revenue is used for repurchase, ETFs continue to attract funds, and with the U.S. approving perpetual contracts, ICE’s good will raises the question of how Hyperliquid will obtain a ticket to mainstream financial markets?

Web3 Matters

Zcash is found by AI to have a forgery vulnerability, ZEC plummets amid a trust crisis

Although the founder claims that the likelihood of malicious forgery is low, the facts remain unknown, and many investors choose to clear positions and wait.

STRC falls below $95: Why is it continuously unpegged? Is there a default risk?

Under the pressure of Bitcoin’s pullback, is the preferred stock model still viable?

Bloomberg reveals how rich Chinese individuals break through the annual $50,000 limit to transfer assets

China’s new foreign exchange control regulations have tightened, exposing $150 billion in gray outflow channels. Bloomberg analyzes five major paths such as underground banks and migration, while the cryptocurrency channel has been targeted by law enforcement.

Tianya Resurrection: The sentiment is real, Web3 packaging is also real

The Tianya community is restarting, with a 1999 yuan digital badge linked to Web3 governance, distribution, and equity channels. Can the old forum be reborn through blockchain?

Binance wants to be a "super APP": launching over 7,000 U.S. stocks and ETFs, pushing for stock tokenization

Binance launches stock trading features, supporting 7,000 U.S. stocks with zero commission starting at $5, and announces the bStocks tokenized stock plan, allowing users to convert stocks into BNB chain digital assets, accelerating the integration of traditional finance and the crypto world.

Key Information

• Jiang Zhuoer: Bought back all ETH positions at $1,645, expects to sell after a rebound in 1-3 days

• Strategy's Bitcoin holdings are showing a floating loss of $11.07 billion, Bitmine's Ethereum holdings have a floating loss of $9.58 billion

• Zcash founder reveals serious forgery vulnerability details in Orchard, stating "the likelihood of being exploited is relatively low", ZEC falls below $260, daily decline reaches 53.44%

• A new wallet increases its holdings by approximately 140,000 HYPE, accumulating over 900,000 HYPE in the past three days

• Wallets related to "7 Siblings" bought 32,900 ETH, while another whale that had been silent for 3 years sold 10,000 ETH

• Arthur Hayes-related wallet deposited 85,714 HYPE into Bybit

• BlackRock transferred 5,212 BTC and 20,000 ETH to Coinbase Prime

• SpaceX starts IPO roadshow, planning to issue 556 million shares at $135

• a16z accumulated 155,000 HYPE in 14 hours, having bought and held approximately 6.754 million HYPE

• Multicoin Capital deposited 56.12 million ENA to Galaxy Digital and BitGo, equivalent to approximately $5.28 million

• Newly emerged U.S. stock call king Serenity bottoms ETH and BTC related ETFs, but only for a short-term swing

• Near Intents TVL hits a new high, with trading volume exceeding $600 million in the past 7 days

• Abraxas Capital continues to reduce holdings of 1,469 BTC, with cumulative reductions exceeding 2,469 BTC in just over a day

• Charles Schwab launches all-weather crypto futures trading service, covering BTC, ETH, SOL, and XRP futures

• Bitmine imitates Strategy's financing model, issuing preferred stock with an annual dividend yield of 9.5%

• Monthly trading volume for crypto venture capital drops to a five-year low

• Hyperliquid’s HYPE price surpasses Solana, while SOL price drops to the lowest level since 2023

• Variant completes $220 million fundraising for its fund, betting on the era of AI and crypto "autonomous economies"

• Strive discloses an increase of 2,500 Bitcoins from May 23 to June 1, bringing total holdings to 19,000 BTC

• Microsoft launches seven new models at Build conference, covering reasoning, coding, images, etc.

• Coinbase invests in Ethena through open market purchase of ENA and announces a new partnership

• U.S. exchange operators suffer a drop due to concerns about perpetual futures risk, CBOE Global Markets down 9%

• Former U.S. presidential candidate Andrew Yang's telecom company Noble Mobile acquires crypto wireless operator Helium Mobile

• Tiger International: Starting June 12, new opening and increasing trading will be suspended for all varieties of existing investors' accounts in China

• Jensen Huang mentions that most stocks have risen more than 100% this year

• Cobie-related address accumulates 20 million LDO and transfers it to several exchanges, worth approximately $6.58 million

• Mt. Gox transfers 10,300 BTC to a new wallet after two months, worth approximately $731 million

• Citron Research founder Andrew Left is convicted of securities fraud and faces over 20 years in prison

• Fenbushi Capital-related address suspected of selling 11,101 ETH, if sold would incur a loss of $11.79 million

• Strategy's Bitcoin selling time sparked controversy over the $20 million prediction pool on Polymarket

• Ondo Finance will launch an RWA perpetual contract platform called Ondo Perps, going live within weeks

• An Ethereum OG sold 55,000 ETH and 9,442 wstETH within a week, totaling over $136 million

• An address suspected of being linked to Dragonfly transferred 137 million SKY to Coinbase, losing over half its value since proposal

• BeSENT: The U.S. has seized approximately $1 billion in cryptocurrency from Iran

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