Stocks

US spot Bitcoin ETFs posted $326 million of net outflows on June 5, leaving the group with $75.1 billion in assets under management. BlackRock's IBIT led the day's redemptions at $214 million, while professional investors cut Bitcoin ETF exposure by 17% in Q1 2026 and BTC traded around $61,343 at press time.

Bitcoin has dropped about 50% from its all-time high, erasing roughly $988 billion in market value between October 2025 and April 2026. Net outflows from U.S. spot Bitcoin ETFs totaled $3.83 billion from May 1 to June 4, while risk-off positioning and stronger equity performance have kept BTC under pressure. On the charts, a weekly close below the $60,000 wick could open a path toward the $52,000-$53,000 area.

Marvell Technology will be added to the S&P 500 on June 22 after meeting the index's GAAP profitability requirement and will replace Pool Corp. The change compels funds that track the benchmark to purchase Marvell shares, after the stock jumped nearly 6% in after-hours trading following the June 5 announcement. The reshuffle arrives as chip stocks saw a sharp selloff, with the PHLX semiconductor index down 10.3% in the same week.

U.S. equities fell sharply on Friday after a May payrolls report shifted trader expectations toward higher Federal Reserve rates. The Nasdaq dropped 4.18% and the S&P 500 slid 2.64%, while Bitcoin fell more than 5% and moved below $60,000. Attention now turns to Wednesday’s CPI release and the Fed’s June 16–17 meeting.

U.S. hiring stayed solid in May, with nonfarm payrolls up 172,000 and the unemployment rate unchanged at 4.3%. Average hourly earnings increased 0.3% month-over-month and 3.4% year-over-year, data that could lessen urgency for rapid Federal Reserve rate cuts that crypto traders monitor closely.

Bitcoin (BTC) fell on Friday to around $60,000, its lowest levels since early February, extending a broader risk-off mood across crypto. After peaking at $126,000 last October, BTC is now down about 52%, alongside a drop in fully diluted bitcoin-treasury company stocks from nearly $134 billion to about $72 billion. Analysts also flagged a potential support zone between $54,000 and $50,000, a level that would imply a further 17% decline from $60,444.

On June 5, 2026, JPMorgan, Bank of America, Citigroup, and Wells Fargo were reported to be building a shared blockchain network to tokenize corporate deposits, with a targeted launch in the first half of 2027. In parallel, Stripe, Visa, and Mastercard are assembling stablecoin-based payment infrastructure after acquisitions totaling $2.9B, aiming to push cross-border B2B costs below 0.1% per transaction. Coinbase’s USDC revenue arrangement with Circle, described as generating over $900M annually, is set to expire in August 2026 and could influence which system gains traction.

Goldman Sachs projects SpaceX's AI-related revenue could climb to $322Bn by 2030 from an estimated $3.2Bn in 2025, with total company revenue modeled at $474Bn. The report ties the thesis to Starlink-enabled "orbital compute" and comes as SpaceX targets a $75Bn IPO raise at a $1.75 trillion valuation, with pricing expected June 11 and trading slated for June 12.

Bitcoin spot ETFs have logged net outflows in 17 of the last 19 days, totaling $5.6 billion, pushing year-to-date flows to -$2.17 billion. Since May 14, Bitcoin has fallen about 20% from $82,040 to around $64,000, as Michael Saylor argued capital is rotating into AI infrastructure, citing roughly $400B raised over six months.

A June 2026 crypto selloff erased $62 billion in combined market capitalization from public companies that hold Bitcoin on their treasuries. Strategy (MicroStrategy), Tesla, and Marathon Digital were cited among the biggest drivers of the drawdown, as BTC fell roughly 50% from its peak. The move has renewed scrutiny of whether mark-to-market-sensitive corporate BTC treasury strategies can withstand sustained downside.