Finance

Digital assets are experiencing a significant downturn, with Bitcoin falling below $64,000 to reach its lowest intraday level since late February. This price pressure is being exacerbated by a continuous 13-day streak of outflows from spot Bitcoin ETFs, totaling billions in withdrawn capital. Other major cryptocurrencies like Ethereum also declined, leading to broader losses in crypto-related equities such as Coinbase and MicroStrategy.

Energy and commodity markets stabilized today following news that Israel and Lebanon have agreed to a conditional ceasefire. Crude oil prices softened but remained near the upper end of their recent $90–$100 range, while gold prices rose to approximately $4,503 per ounce as a hedge against ongoing inflation. Despite the immediate relief from ceasefire reports, supply buffers remain thin due to a sixth consecutive weekly draw in U.S. crude inventories.

Central bank leadership is undergoing a transition as Kevin Warsh prepares to lead his first FOMC meeting later this month. Despite expectations for rates to remain steady in June, several Fed officials have warned that persistent inflation pressures, exacerbated by regional conflicts, may necessitate rate increases later this year. Market futures now reflect a significant shift in sentiment, with over half of traders anticipating a hike by year-end compared to minimal expectations just one month ago.