Bitwise CIO Matt Hougan says crypto is becoming a contrarian bet as AI stocks 
dominate and Clarity Act uncertainty weighs.
The post Bitwise CIO says crypto is becoming a contrarian bet as AI stocks 
dominate markets appeared first on Crypto Briefing.

Bitwise CIO Matt Hougan says crypto is becoming a contrarian bet as AI stocks dominate and Clarity Act uncertainty weighs. The post Bitwise CIO says crypto is becoming a contrarian bet as AI stocks dominate markets appeared first on Crypto Briefing.

Bitwise CIO says crypto is becoming a contrarian bet as AI stocks dominate markets

Bitcoin has slipped below $72,000, triggering fresh concerns across the market 
after Strategy reported its first BTC sale in years. The development quickly 
attracted attention across the crypto market, as the company led by Michael 
Saylor has long been viewed as one of BTC’s most committed corporate holders. 
Strategy’s Massive Bitcoin Stockpile Continues To Dominate Headlines Bitcoin 
has dropped below the $72,000 level after confirmation that Michael Saylor&#8217;s 
Strategy has executed its first BTC sale in over three and a half years. An 
analyst known as Bull Theory on X highlighted that the reported sale involved 
just 32 BTC, valued at approximately $2.5 million, a relatively small 
transaction compared to Strategy&#8217;s massive holdings. Related Reading: Strategy 
Sells Bitcoin For First Time Since 2022 Tax-Loss Trade Historically, the 
company has demonstrated a similar approach. In December 2022, Strategy sold 
704 BTC to realize a tax loss, only to repurchase 810 BTC just two days later. 
Earlier last month, Saylor stated that Strategy could sell portions of its BTC 
holdings to fund dividends. However, he emphasized a net accumulation model, 
mentioning that the firm intends to buy 20 BTC for every 1 BTC sold. Despite 
the recent sale, Strategy still holds 843,706 BTC on its balance sheet, 
representing roughly 4% of BTC&#8217;s total supply acquired at a total cost of 
$63,86 billion. Bitcoin’s recent price action continues to show signs of 
underlying weakness despite persistent optimism in the derivatives market. 
Crypto analyst Max Trades has noted that while BTC has been unable to 
establish a convincing recovery, funding rates remain highly positive, 
indicating that many perpetual futures traders are still positioning for 
upside. At the same time, open interest has begun to rise significantly as 
soon as the markets reopened, signaling that new leveraged positions are 
entering the market despite the recent sell-off. What adds further pressure to 
the current setup is that spot has started selling after briefly stabilizing 
over the weekend. While BTC spot pressure is trending downward, perpetual 
futures traders continue to lean aggressively long. In the current 
environment, the market still appears increasingly dependent on perpetual 
while spot demand remains absent. As long as the setup continues reliance on 
leveraged long exposure, a stronger recovery case will likely require a return 
of consistent spot demand. Market Structure Weakens As Bitcoin Loses A Major 
Support Zone Bitcoin has delivered a technically significant signal by closing 
the month below its 2024 all-time high level. According to crypto investor 
Rekt Capital, on the first day of June, price action has already shown initial 
signs of turning 2024 into a new resistance year. Related Reading: Bitcoin 
Recovery Rally Or Bull Trap? These Key Levels Hold The Answer Rekt Capital 
argues that unless BTC reclaims the 2024 all-time high, the sequence of 
technical events will increase the chance of BTC revisiting the 2021 all-time 
highs for a retest. Featured image from Pixabay, chart from Tradingview.com

Bitcoin has slipped below $72,000, triggering fresh concerns across the market after Strategy reported its first BTC sale in years. The development quickly attracted attention across the crypto market, as the company led by Michael Saylor has long been viewed as one of BTC’s most committed corporate holders. Strategy’s Massive Bitcoin Stockpile Continues To Dominate &#8230;

Bitcoin Falls Below $72,000 After Strategy Reports First BTC Sale In Years

US forces struck Iranian drones/missiles targeting Kuwait and Bahrain. US 
invasion of Iran at 17.5% YES; US strikes 8 countries in 2026 at 25.9% YES.
The post US carries out self-defense strikes against Iranian drones and 
missiles targeting Kuwait, Bahrain appeared first on Crypto Briefing.

US forces struck Iranian drones/missiles targeting Kuwait and Bahrain. US invasion of Iran at 17.5% YES; US strikes 8 countries in 2026 at 25.9% YES. The post US carries out self-defense strikes against Iranian drones and missiles targeting Kuwait, Bahrain appeared first on Crypto Briefing.

US carries out self-defense strikes against Iranian drones and missiles targeting Kuwait, Bahrain

Coinbase enables Checkout.com merchants to accept USDC and USDT through 
existing checkout systems. More than 1,000 enterprise customers can add 
stablecoin payments while settling in U.S. dollars. Checkout.com Partnership 
Pushes Stablecoins Deeper Into Enterprise Commerce Crypto exchange Coinbase 
(Nasdaq: COIN) announced on June 2 that Checkout.com is enabling stablecoin 
acceptance for eligible merchants across its […]

Coinbase enables Checkout.com merchants to accept USDC and USDT through existing checkout systems. More than 1,000 enterprise customers can add stablecoin payments while settling in U.S. dollars. Checkout.com Partnership Pushes Stablecoins Deeper Into Enterprise Commerce Crypto exchange Coinbase (Nasdaq: COIN) announced on June 2 that Checkout.com is enabling stablecoin acceptance for eligible merchants across its &#8230;

Coinbase Enables Stablecoin Payments Across Checkout.com’s 1,000+ Merchant Network

US strikes IRGC communications tower on Qeshm Island near Strait of Hormuz. 
Hormuz traffic normal by June at 21.5% YES, down from 38% last week.
The post US strikes IRGC communications tower on Qeshm Island near Strait of 
Hormuz appeared first on Crypto Briefing.

US strikes IRGC communications tower on Qeshm Island near Strait of Hormuz. Hormuz traffic normal by June at 21.5% YES, down from 38% last week. The post US strikes IRGC communications tower on Qeshm Island near Strait of Hormuz appeared first on Crypto Briefing.

US strikes IRGC communications tower on Qeshm Island near Strait of Hormuz

Google&#8217;s AI advancements are lagging behind competitors like OpenAI and 
Anthropic. The readiness of AI models is critical for maintaining a 
competitive edge in the tech industry. Google&#8217;s flagship &#8230;
The post M.G. Siegler: Google is lagging behind OpenAI and Anthropic, the shift to standalone AI apps is challenging, and strategic missteps could be company-destroying | Big Technology appeared first on Crypto Briefing.

Google&#8217;s AI advancements are lagging behind competitors like OpenAI and Anthropic. The readiness of AI models is critical for maintaining a competitive edge in the tech industry. Google&#8217;s flagship &#8230; The post M.G. Siegler: Google is lagging behind OpenAI and Anthropic, the shift to standalone AI apps is challenging, and strategic missteps could be company-destroying &#8230;

M.G. Siegler: Google is lagging behind OpenAI and Anthropic, the shift to standalone AI apps is challenging, and strategic missteps could be company-destroying | Big Technology

Bitwise CIO says crypto is becoming a contrarian bet as AI stocks dominate markets

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