🚨【In-depth】BIS Warns of a Trillion-Dollar AI Bubble + Sharplink Snaps Up 62M ETH—July Crypto Market Faces a “Macro + On-Chain” Double Blast
Over the past 48 hours, two major events have hit the crypto market at the same time: the Bank for International Settlements (BIS) issued the harshest AI-bubble warning to date, and Sharplink carried out another buy of $62.40 million worth of ETH last week. Total crypto market cap has still held around $3.88 trillion (data source: cryptomarkettoday.com, 6/29).
📌 Event One: A BIS “nuclear-level” warning
On June 28, the BIS—often hailed as the “central bank of central banks”—released its annual economic report, pointing directly to the fact that the five largest global hyperscale cloud providers’ capital expenditures for 2025–2026 will exceed $1 trillion. Goldman Sachs data shows that market expectations for cloud providers’ 2026 capex have been raised by nearly 80% compared with six months ago. BIS warns that if AI returns fail to meet expectations, funds could suddenly withdraw, meaning the “capex boom may turn into a long-lasting investment slump” (source: bitcoinnewsinvest.com, 6/29).
📌 Event Two: Sharplink keeps hoarding crypto
Last week, Sharplink bought 39,008 ETH at an average price of $4,531. Its total holdings rose to 837,230 ETH, worth roughly $3.6 billion. The company was recently added to the Russell Index, and Q1 revenue surged 1,525% year over year (source: Economic Observer/《经济观察网》, 6/4). Ethereum co-founder Joseph Lubin and former BlackRock digital assets head Joseph Chalom personally took the reins, turning Sharplink into an “ETH version of MicroStrategy.”
🔍 My take
In the short term, the BIS report combined with hawkish remarks from the new U.S. Fed chair Warsh on 6/18 (source: blockhead.co) has increased expectations of tighter macro liquidity—this is the core reason BTC and ETH have been under pressure recently. But Sharplink’s behavior of “a listed company buying crypto with real money continuously” is actively reshaping ETH’s valuation anchor. When a company’s balance sheet starts stockpiling a crypto asset, it is no longer just a “speculative target,” but an “enterprise reserve asset.”
Meanwhile, the zk-rollup track is cooling off: Loopring announced it is shutting down its DEX (source: bitcoinnewsinvest.com, 6/29). That suggests technological narratives must be matched with real adoption—purely based on concepts can no longer sustainably attract capital.
💡 Reader suggestions
1. Watch the July Fed rate path—any hawkish comments from Warsh could amplify volatility
2. ETH’s next wave of catalysts may come during the corporate treasury disclosure season (Q2 earnings, July–August)
3. If the AI bubble bursts, funds may flow back into BTC as a “hard-asset” safe haven
Data source roundup:
• bitcoinnewsinvest.com (2026-06-29)
• Economic Observer/《经济观察网》 (2026-06-04)
• blockhead.co (2026-06-18)
• cryptomarkettoday.com (2026-06-29)
$BTC $ETH $BNB #深度 #BIS #Sharplink #AI bubble