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Crypto

Hayes warns AI bubble burst could hit crypto, sells altcoins and focuses on BTC and ETH

BitMEX co-founder Arthur Hayes said he has sold all major altcoin holdings and refocused his crypto portfolio on bitcoin and ether. He warned that if enthusiasm for investment in the AI industry fades in the short term, risk assets broadly could face a correction. Hayes cited oil prices, potential large IPOs by SpaceX, Anthropic and OpenAI, and possible anti-AI policies by U.S. President Donald Trump as key factors that could shake the AI boom.

Crypto

Analyst who called XRP peak says crypto market no longer as simple

As the cryptocurrency market gave back most of its May gains in five days in June, analysts offered differing interpretations. U.Today reported total market value fell about 15 percent, with XRP down 17 percent and bitcoin down 18 percent. Analyst Donald, known for projecting XRP’s surge in late 2024, said sentiment is at rock bottom and the market is no longer simple, citing derivatives, a proliferation of ETFs and AI-related risks.

Crypto

Bitcoin rebounds after breaking below $60,000; focus on AI funding shift and rate outlook

Bitcoin fell below $60,000 for the first time since last October and rebounded to around $63,000 on bargain buying. The broader crypto market slid, with heavy liquidations. Investors focused on stronger U.S. jobs data that pushed back rate-cut expectations, and on large AI-related fundraisings seen as drawing money from risk assets. Decrypt reported Strategy sold bitcoin for the first time in four years, hurting sentiment, while spot crypto ETFs saw outflows.