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On July 2, following news of Meta's business shift, AI star stocks experienced a collective deep correction. The liquidation volume of related stock contracts surged in the tradfi market. According to Coinglass data, in the past 12 hours, the total liquidation of long positions in Micron stock contracts reached $6.07 million, while long positions in the DRAM ETF on trade.xyz saw liquidations of $5.67 million. SK Hynix experienced over $7 million in liquidations, SNDK over $3 million, and the AI leveraged ETF SOXL saw liquidations of $2.75 million.

[AI Star Stocks Experience Significant Correction Amid Meta Business Shift]On July 2, following news of Meta's business shift, AI star stocks experienced a collective deep correction. The liquidation volume of related stock contracts surged in the tradfi market. According to Coinglass data, in the past 12 hours, the total liquidation of long positions in Micron stock contracts reached $6.07 million, while long positions in the DRAM ETF on trade.xyz saw liquidations of $5.67 million. SK Hynix experienced over $7 million in liquidations, SNDK over $3 million, and the AI leveraged ETF SOXL saw liquidations of $2.75 million.

AI Star Stocks Experience Significant Correction Amid Meta Business Shift

On July 2, according to monitoring by Lookonchain, investment firm ParaFi Capital continued to increase its holdings by 56 million SKY (worth $2.98 million) one hour ago, after swapping AAVE for SKY in March. In early March, when AAVE was priced at $124, they exchanged 42,500 AAVE for 70 million SKY. They now hold a total of 126 million SKY (worth $6.64 million), with an average price of approximately $0.066, resulting in an unrealized loss of $1.72 million.

[Investment Firm ParaFi Capital Increases Holdings by 56 Million SKY]On July 2, according to monitoring by Lookonchain, investment firm ParaFi Capital continued to increase its holdings by 56 million SKY (worth $2.98 million) one hour ago, after swapping AAVE for SKY in March. In early March, when AAVE was priced at $124, they exchanged 42,500 AAVE for 70 million SKY. They now hold a total of 126 million SKY (worth $6.64 million), with an average price of approximately $0.066, resulting in an unrealized loss of $1.72 million.

Investment Firm ParaFi Capital Increases Holdings by 56 Million SKY

On July 2, news that "Meta plans to build its own cloud business and sell surplus AI computing power" ignited the market, with interpretations suggesting that capital expenditures from large-scale firms have peaked. Meta surged 8.81%, marking its best performance in six months, while stocks of companies that supply storage chips faced significant sell-offs. The S&P 500 closed at 7485.02 points, down 0.19%; the Dow Jones Industrial Average closed at 52305.24 points, nearly unchanged; the Nasdaq Composite fell 0.66%, with the Nasdaq 100, primarily composed of chip and momentum stocks, dropping 1.5% to close at 29809.13 points. Some market analysts believe that the market is re-evaluating the pricing logic of the computing power supply chain. Concerns are rising that large-scale firms are slowing down their procurement, directly impacting the "shovel sellers" in storage and semiconductor sectors. According to BIT (bit.com) market data, AI-related U.S. stocks plummeted across the board: major stock Micron closed down 10.57%, AMD fell 6.8%, and NVIDIA dropped 1%. In the storage sector, SanDisk led the decline with a drop of 10.62%, while STX and WDC both fell over 5%. Mid-cap stocks represented by the CPO concept experienced even sharper declines, with GLW down 13.62%, AAOI down 6.18%, and MRVL down 8.71%. AI infrastructure stocks, which had performed well in recent days, also saw significant pullbacks, with AMAT and LRCX both falling nearly 10%. This morning, the Korean stock market continued its downward trend, with the Korean index opening down 5% before hitting a circuit breaker. The Nikkei 225 index saw a daily decline of 2.00%. Notably, as the AI frenzy cools, Bitcoin seems to be attracting some capital back, rebounding to over $61,000 last night and this morning.

[Meta's Impact on AI Stocks Leads to Continued Market Decline in Korea]On July 2, news that "Meta plans to build its own cloud business and sell surplus AI computing power" ignited the market, with interpretations suggesting that capital expenditures from large-scale firms have peaked. Meta surged 8.81%, marking its best performance in six months, while stocks of companies that supply storage chips faced significant sell-offs. The S&P 500 closed at 7485.02 points, down 0.19%; the Dow Jones Industrial Average closed at 52305.24 points, nearly unchanged; the Nasdaq Composite fell 0.66%, with the Nasdaq 100, primarily composed of chip and momentum stocks, dropping 1.5% to close at 29809.13 points. Some market analysts believe that the market is re-evaluating the pricing logic of the computing power supply chain. Concerns are rising that large-scale firms are slowing down their procurement, directly impacting the "shovel sellers" in storage and semiconductor sectors. According to BIT (bit.com) market data, AI-related U.S. stocks plummeted across the board: major stock Micron closed down 10.57%, AMD fell 6.8%, and NVIDIA dropped 1%. In the storage sector, SanDisk led the decline with a drop of 10.62%, while STX and WDC both fell over 5%. Mid-cap stocks represented by the CPO concept experienced even sharper declines, with GLW down 13.62%, AAOI down 6.18%, and MRVL down 8.71%. AI infrastructure stocks, which had performed well in recent days, also saw significant pullbacks, with AMAT and LRCX both falling nearly 10%. This morning, the Korean stock market continued its downward trend, with the Korean index opening down 5% before hitting a circuit breaker. The Nikkei 225 index saw a daily decline of 2.00%. Notably, as the AI frenzy cools, Bitcoin seems to be attracting some capital back, rebounding to over $61,000 last night and this morning.

Meta's Impact on AI Stocks Leads to Continued Market Decline in Korea

On July 2, spot gold and silver rose short-term, with silver surpassing $60 per ounce, up 1.55% for the day, while gold increased by 0.8%, currently reported at $4064 per ounce. (Jin Shi)

[Spot Gold and Silver Rise Short-Term, Silver Surpasses $60/Ounce]On July 2, spot gold and silver rose short-term, with silver surpassing $60 per ounce, up 1.55% for the day, while gold increased by 0.8%, currently reported at $4064 per ounce. (Jin Shi)

Spot Gold and Silver Rise Short-Term, Silver Surpasses $60/Ounce

On July 2, X product head Nikita Bier announced the launch of Live Studio, a live streaming command center built into the Creator Studio of the X platform. This tool provides professional streamers with the ability to create, manage, and optimize their live broadcasts, supporting features such as titles, thumbnails, audience permissions, and real-time chat control. The announcement included a demonstration video showcasing how users can schedule live streams, monitor concurrent viewers, view chat messages, and integrate high-quality streaming features like SpaceX launches, aiming to make X the preferred platform for real-time content. Nikita Bier also announced a $1 million incentive for live stream creators to encourage audience growth and enhance the platform's streaming ecosystem, attracting users migrating from platforms like Twitch.

[X Launches Live Studio Tool to Enhance Streaming Experience]On July 2, X product head Nikita Bier announced the launch of Live Studio, a live streaming command center built into the Creator Studio of the X platform. This tool provides professional streamers with the ability to create, manage, and optimize their live broadcasts, supporting features such as titles, thumbnails, audience permissions, and real-time chat control. The announcement included a demonstration video showcasing how users can schedule live streams, monitor concurrent viewers, view chat messages, and integrate high-quality streaming features like SpaceX launches, aiming to make X the preferred platform for real-time content. Nikita Bier also announced a $1 million incentive for live stream creators to encourage audience growth and enhance the platform's streaming ecosystem, attracting users migrating from platforms like Twitch.

X Launches Live Studio Tool to Enhance Streaming Experience

On July 2, Bitwise Research Director André Dragosch stated that July could be a pivotal month for Bitcoin's transition from a bear market to a bull market. He noted that if the semiconductor sector experiences a significant reversal from its current levels, it could prompt the Federal Reserve to adopt a more dovish policy response, allowing Bitcoin to potentially complete its reversal ahead of the market's widely anticipated bottom in October.

[Bitwise Research Director: AI-Driven US Stock Decline May Trigger Bitcoin's Shift from Bear to Bull Market in July]On July 2, Bitwise Research Director André Dragosch stated that July could be a pivotal month for Bitcoin's transition from a bear market to a bull market. He noted that if the semiconductor sector experiences a significant reversal from its current levels, it could prompt the Federal Reserve to adopt a more dovish policy response, allowing Bitcoin to potentially complete its reversal ahead of the market's widely anticipated bottom in October.

Bitwise Research Director: AI-Driven US Stock Decline May Trigger Bitcoin's Shift from Bear to Bull Market in July

On July 2, Bank of America’s latest data revealed that institutional clients have sold U.S. stocks for the fourth consecutive week, with inflows into the technology sector dropping to a historic low. Individual stocks faced an outflow of $9.9 billion, marking the fourth-largest outflow since 2008. In contrast to the ongoing reduction by institutional clients, hedge funds were net buyers during this period. Retail investors also reversed their previous trend, becoming net buyers for the first time in six weeks, indicating a divergence among different types of investors in the current market environment. In terms of corporate actions, Bank of America data shows that corporate buyback activities have slowed for the fifth consecutive week, reaching the lowest level since February of this year. The continued weakening of buyback efforts aligns with the overall cautious sentiment of institutional clients reducing their holdings in technology and financial stocks.

[Institutional Clients Sell U.S. Stocks for Fourth Consecutive Week; Hedge Funds and Retail Investors Become Net Buyers]On July 2, Bank of America’s latest data revealed that institutional clients have sold U.S. stocks for the fourth consecutive week, with inflows into the technology sector dropping to a historic low. Individual stocks faced an outflow of $9.9 billion, marking the fourth-largest outflow since 2008. In contrast to the ongoing reduction by institutional clients, hedge funds were net buyers during this period. Retail investors also reversed their previous trend, becoming net buyers for the first time in six weeks, indicating a divergence among different types of investors in the current market environment. In terms of corporate actions, Bank of America data shows that corporate buyback activities have slowed for the fifth consecutive week, reaching the lowest level since February of this year. The continued weakening of buyback efforts aligns with the overall cautious sentiment of institutional clients reducing their holdings in technology and financial stocks.

Institutional Clients Sell U.S. Stocks for Fourth Consecutive Week; Hedge Funds and Retail Investors Become Net Buyers

On July 2, according to monitoring by Lookonchain, investment firm ParaFi Capital continued to increase its holdings by 56 million SKY (valued at $2.98 million) one hour ago, after swapping AAVE for SKY in March. In early March, when the price of AAVE was $124, they exchanged 42,500 AAVE for 70 million SKY. They now hold a total of 126 million SKY (valued at $6.64 million), with an average price of approximately $0.066. They are currently facing an unrealized loss of $1.72 million.

[ParaFi Capital Increases Holdings by 56 Million SKY]On July 2, according to monitoring by Lookonchain, investment firm ParaFi Capital continued to increase its holdings by 56 million SKY (valued at $2.98 million) one hour ago, after swapping AAVE for SKY in March. In early March, when the price of AAVE was $124, they exchanged 42,500 AAVE for 70 million SKY. They now hold a total of 126 million SKY (valued at $6.64 million), with an average price of approximately $0.066. They are currently facing an unrealized loss of $1.72 million.

ParaFi Capital Increases Holdings by 56 Million SKY

On July 2, André Dragosch, the Bitwise Europe Research Director, stated that July seems to be a turning point for BTC from a bear market to a bull market. If semiconductor stocks experience a sharp reversal from current levels, the Federal Reserve may respond with a dovish stance. My personal fundamental prediction is that Bitcoin is likely to bottom out ahead of the widely anticipated low in October.

[Bitwise Europe Research Director: BTC Likely to Bottom Before Expected October Low]On July 2, André Dragosch, the Bitwise Europe Research Director, stated that July seems to be a turning point for BTC from a bear market to a bull market. If semiconductor stocks experience a sharp reversal from current levels, the Federal Reserve may respond with a dovish stance. My personal fundamental prediction is that Bitcoin is likely to bottom out ahead of the widely anticipated low in October.

Bitwise Europe Research Director: BTC Likely to Bottom Before Expected October Low

On July 1, the Financial Times reported that Apple (AAPL.O) CEO Tim Cook held 'constructive' talks with EU technology chief Henna Virkkunen on Tuesday, aiming to ease tensions surrounding the recently launched 'Siri AI' technology. An EU spokesperson stated that the online meeting involved constructive exchanges on 'mutually concerning issues,' and relevant work is ongoing. Two individuals familiar with the negotiations indicated that the meeting discussed how Apple can launch the revamped Siri in Europe while avoiding potential fines of millions of dollars for violating major EU competition rules.

[UK Media: Apple CEO Holds Constructive Talks with EU Technology Chief on 'Siri AI']On July 1, the Financial Times reported that Apple (AAPL.O) CEO Tim Cook held 'constructive' talks with EU technology chief Henna Virkkunen on Tuesday, aiming to ease tensions surrounding the recently launched 'Siri AI' technology. An EU spokesperson stated that the online meeting involved constructive exchanges on 'mutually concerning issues,' and relevant work is ongoing. Two individuals familiar with the negotiations indicated that the meeting discussed how Apple can launch the revamped Siri in Europe while avoiding potential fines of millions of dollars for violating major EU competition rules.

UK Media: Apple CEO Holds Constructive Talks with EU Technology Chief on 'Siri AI'

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UK Media: Apple CEO Holds Constructive Talks with EU Technology Chief on 'Siri AI'

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