54Moves,NoRegrets

2026-06-2523:28:41 Thursday
Source: AiCoin
The U.S. stock market plummeted without warning, with high-leverage ETFs, AI uncertainty, and cryptocurrency liquidations as triggers.
The Nasdaq 100 dropped 1,000 points in 27 minutes, the S&P 500 erased $1 trillion in market cap, turning from a 1% gain at the open to a 3% decline. U.S. PCE inflation rose to 4.1%, Apple announced Mac and iPad price hikes of up to 25% due to soaring AI chip costs, and Apple's stock fell nearly 6%, wiping out $220 billion in market cap. TheKobeissiLetter believes that the widespread high-leverage ETFs, AI uncertainty,

A dormant 7-year address sells 27,585 ETH
According to Odaily Planet Daily, Onchain Lens monitoring shows that an address (0x096...4dc6), after being dormant for 7 years, exchanged all 27,585 ETH for USDS worth $44.84 million at a price of $1,625, ultimately making a profit of $39.1 million.

Why do institutions sell when Bitcoin prices are very low?
The main reason for BlackRock's large-scale selling of Bitcoin is the massive redemption by investors in its IBIT spot Bitcoin ETF, rather than BlackRock itself actively turning bearish on Bitcoin and selling.
How the ETF works: IBIT is a spot Bitcoin ETF that holds actual Bitcoin. When investors buy ETF shares, BlackRock (through authorized participants) buys Bitcoin; when investors sell/redeem shares, BlackRock needs to sell the corresponding Bitcoin to meet redemption demand. This is not BlackRock's investment decision but a passive