Google · Oracle · SpaceX · Bitcoin · Bitcoin ETF · Federal Reserve (FED) · Cointelegraph
Google (GOOG US) debuted aims to raise $80 billion, while Oracle (ORCL US) and Super Micro Computer (SMCI US) followed
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Selected AI sector stock performances.
Key facts
- Google (GOOG US) announced plans to raise $80 billion, while Oracle (ORCL US) and Super Micro Computer (SMCI US) followed suit with $40 billion and $7 billion, respectively
- The Nasdaq 100 Index dropped 7.5% in the seven days leading up to June 10, wiping out $2.7 trillion in market value
- The US Labor Department reported Thursday that its producer price index jumped 6.5% from May 2025, the highest level since 2022
- With $1.9 billion exiting the spot Bitcoin ETFs and tech stocks under pressure, BTC is failing as a hedge and at risk of falling below the $60,000 support
Summary
With $1.9 billion exiting the spot Bitcoin ETFs and tech stocks under pressure, BTC is failing as a hedge and at risk of falling below the $60,000 support. Surging oil prices and rising producer inflation have pushed traders to price in a stricter US Fed monetary policy. Massive spot Bitcoin ETF outflows in June show the cryptocurrency is currently failing to act as a stock market hedge. The Nasdaq 100 Index dropped 7.5% in the seven days leading up to June 10, wiping out $2.7 trillion in market value. Nasdaq 100 futures (left) vs. Bitcoin/USD (right).