Tiger Global: Starting from June 12, all types of new opening and adding positions for existing investors' accounts in China will be suspended

June 2: Glassnode shared in a recent post that Bitcoin has dropped to $69,500, with long-term holders currently facing a 15.5% average relative unrealized loss. To put that in context: For every $1 worth of Bitcoin long-term investors hold, they’re currently sitting on roughly $0.155 in average unrealized losses. During the extreme bottom phases of past market cycles, this metric has climbed above 50%—meaning back then, each $1 of Bitcoin held translated to over $0.50 in paper losses. While the data shows there is some pressure building in today’s market, the level of pain long-term holders are experiencing hasn’t hit the typical thresholds seen at historical cyclical lows. In other words, based on the loss situation of long-term Bitcoin holders, the market hasn’t flashed the widespread, deep “surrender sell-off” signals that usually mark the end of past bear markets.

June 2: Binance Wallet Prediction Market has officially integrated the PP points system—provided and operated by Predict.fun—per an official announcement. Users can earn PP points through trading, providing liquidity, holding positions, and other eligible market activities on the platform. PP is Predict.fun’s native points incentive program, designed to measure users’ activity, contributions, and long-term involvement in the prediction market.

On June 2, IBM (IBM.N) committed to investing more than $100 billion into quantum computing, targeting the launch of the world’s first large-scale fault-tolerant quantum computer by 2029. Tap the original article link below to follow the Insight Beating · Feishu AI News Channel, which tracks global AI updates and breaking news 24/7.

June 2 – Even as the U.S. stock market keeps hitting fresh record highs, Wall Street analysts responsible for monitoring these markets aren’t eager to chase the upward momentum. Researchers are downgrading ratings for S&P 500 index constituent companies. JPMorgan data reveals that in the broad Russell 3000 index, the proportion of component stocks with a “buy” rating is almost identical to what it was four years ago—well below the peak level logged during the dot-com bubble. Whatever the precise reasons behind this new wave of skepticism, it’s seen as a positive sign. From a contrarian investing standpoint, this means market sentiment hasn’t hit the kind of extreme bullishness that usually precedes a market top. Andrew Greenbain, Senior Vice President of Stock Research Product Management at JPMorgan, commented: “I typically gauge market sentiment by asking, ‘Are there more buyers or sellers?’ Right now, the selling side hasn’t shown signs of shifting to aggressive buying.”

According to a report from The Paper, Intel CEO Pat Gelsinger told media at Computex Taipei (Taipei Computer Show) on June 2 that while demand for CPUs is increasing, supply remains constrained. Over the past four weeks, numerous CEOs have contacted him asking for more CPUs — a notable opportunity for Intel. Gelsinger added that Intel has made strong progress in its semiconductor foundry business and is currently in discussions with many potential clients. Click the original article link below to join the BlockBeats · Feishu AI News Channel, which tracks global AI trends and news 24/7.

June 2 Update: Wintermute’s latest market analysis highlights that the cryptocurrency sector has recently significantly underperformed the U.S. stock market. Bitcoin dropped below $70,000, while the S&P 500 notched its ninth consecutive week of gains. Bitcoin spot ETFs saw approximately $1.4 billion in outflows — the longest continuous outflow stretch since their launch — and Ethereum ETFs posted roughly $240 million in outflows. Market risk sentiment is clearly shifting toward the traditional U.S. stock market. On the macro front, U.S. core PCE for April rose to 3.3% year-over-year, pointing to persistent inflationary pressures. Even as Brent crude prices plummeted around 20% to roughly $91 during the month, the U.S. 10-year Treasury yield fell to 4.45%. Still, markets are pricing in a 35% to 40% probability of an interest rate hike later this year. In contrast, AI-driven software and technology stocks have continued to deliver strong results, pushing the Nasdaq to an ~8% monthly gai