Micron Technology surged after blockbuster earnings and strong guidance, lifting AI memory stocks.
The popular max pain theory isn’t working out as bitcoin trades far from the $72K level a day ahead of a $10 billion quarterly options settlement.
A liquidation flush took bitcoin to its lowest since early June before Micron’s blowout earnings and SK Hynix’s U.S. listing plans steadied the AI trade that crypto had been sliding alongside.
The token fell from nearly $3 to about $0.50 in hours, wiping out close to $3 billion in market value, with no exploit or announcement to explain it. Onchain investigator ZachXBT warned in April that M’s price had been propped up by insiders.
Japan’s financial regulator cleared the U.S. dollar-backed token as a new category of payment instrument, letting SBI VC Trade offer it to institutions and retail. RLUSD remains small, at about $1.7 billion.
The market has found a new support level and it could be tested following Thursday’s U.S. inflation data.
Sellers broke another support level on heavy volume, while the recovery failed to reclaim the zone that would ease downside pressure.
CryptoQuant says the cash cushion behind Strategy’s STRC has thinned from seven years of coverage to 14 months, and buying BTC at cycle tops has left the company with a $10.6 billion paper loss.
Senate Democrats call for hearings into whether a $500 million investment by UAE officials in World Liberty Financial influenced Trump’s policy decisions.
Bitcoin “OGs” have slashed their selling activity to the lowest levels in nearly two years.
Trading firm Wintermute’s options desk puts bitcoin in a $61,242 to $63,563 range for Tuesday, with correlation rising across tokens and no fresh ETF bid in sight.
A renewed rout in semiconductor stocks pulled risk assets lower again, and crypto kept sliding. Bitcoin is down 5% on the week, with ether and the memecoins falling harder.