BigBreakingWire

TRUMP: Iran launched at least four one-way attack drones at ships transiting the Strait of Hormuz. One struck a cargo vessel, while three others were shot down. This is a foolish violation of our ceasefire agreement.

🚨 BREAKING: U.S. Bitcoin ETFs recorded $1.34 billion in net outflows this week as investors exited during the crypto selloff.

Bitcoin has fallen 6.6% since Monday and is trading near $59,500 after briefly reclaiming $60,000.

Ethereum was little changed, while XRP posted modest gains despite broader market weakness.

The heavy ETF outflows highlight weakening investor sentiment amid the recent decline in crypto prices.

🔴 SpaceX Bond Selloff Deepens

• SpaceX's $25B bond sale is facing a sharp selloff, with paper losses exceeding $300M.

• Traders say fast-money investors are exiting the bonds, adding to selling pressure.

• Concerns over high valuation, long-term cash flow and heavy AI-related debt issuance are weighing on prices.

• The bond issue is shaping up as one of the weakest high-grade bond market debuts in recent years.

$SPCXB

🚨 BofA: U.S. equity funds saw $8.5B outflows in the week to June 24, the first weekly withdrawal in 3 months.

Tech funds recorded a record $9.3B outflow after a record $19.2B inflow the previous week. Apple selling dragged the S&P 500 lower.

Overall equity funds lost $5.0B, money-market funds saw $25.5B outflows, European funds posted an 11th straight week of withdrawals.

Investors shifted to bonds, with fixed-income funds attracting $16.6B, while Micron's strong outlook helped ease tech concerns.

#USStocksFirstOutflowSinceMarch

Bitcoin has lost over $1.3 trillion in value, but many analysts believe the market hasn't reached its bottom yet.

Key indicators suggest Bitcoin could fall to $50,000–$53,000, with the bear market potentially lasting until September.

Experts say the best buying opportunity usually comes after forced selling ends, not during peak panic.

Tokyo's Nikkei 225 closed Friday down 3,005.46 points (-4.15%) at 69,360.88. South Korea's KOSPI fell 519.10 points (-5.81%) to 8,411.20, following an intraday plunge of nearly 9%. SK Hynix dropped over 8%; Samsung Electronics fell more than 5%.

The US and India are holding sensitive national security talks over restoring India's access to Anthropic's restricted AI models, US Under Secretary Jacob Helberg confirmed.

On 12 June, the US Commerce Department ordered Anthropic to block all foreign nationals from using its Fable 5 and Mythos 5 models, leading the company to disable access.

India joined the US-led Pax Silica AI coalition in February, and Indian organisations had previously used Mythos through Project Glasswing before the restrictions.

Helberg said the US is taking a gradual and carefully managed approach to restoring access to the Fable 5 and Mythos 5 models.

🇰🇷 South Korea Stocks Crash 8%, Circuit Breaker Triggered

KOSPI plunged over 8% intraday, triggering a market circuit breaker after Thursday's rally.

Samsung Electronics and SK Hynix dropped about 9% each, while foreign investors sold 2.5 trillion won ($1.6 billion) in early trade.

The selloff erased gains driven by AI optimism after Micron's guidance and SK Hynix's planned U.S. listing.

Sentiment weakened after reports Apple raised prices due to memory-chip shortages and OpenAI may delay its IPO until next year, raising concerns over AI demand and tech valuations.

#KoreaActivatesSidecarAsKOSPI200FuturesFall5%

🚨 Cargo ship hit in the Strait of Hormuz after using a new Oman-designated route.

IMO suspended its evacuation operation to review vessel security.

US blames Iran's IRGC; PGSA warns unauthorized routes carry no security guarantees.

A merchant ship was hit by a projectile in the Strait of Hormuz while using a new Oman-designated route rather than the Iran-approved channel. The incident came hours after Iran's IRGC warned ships not to use unauthorized routes, prompting several vessels to turn back.

🚨‼️ Bitcoin slips below $58,500.

$500 million liquidated from the crypto market in the past 60 minutes.

🇬🇧 UK government will cut duty-free steel import quotas by 51% from previous safeguard levels. Imports exceeding the revised quotas will face a 50% tariff. Existing steel safeguard quotas and the 25% additional safeguard tariff will expire after 30 June 2026.

🇮🇳 Reuters Survey: Bearish bets against the Indian rupee dropped to their lowest level in 11 months after the RBI introduced measures to support the currency and encourage dollar inflows, improving sentiment toward the rupee.

Trump: "The Senate changed its vote on Iran from 50-48 against to 50-47 for. This vote puts Iran on notice!"

🚨 Crypto analyst Jiang Zhuoer says MicroStrategy's mNAV has fallen to 0.72, close to its previous cycle low of 0.70, suggesting MSTR may be nearing its valuation bottom.

Key points:
• Analyst says the current mNAV level could mark the cycle low for MSTR valuation.

• He notes MSTR's mNAV bottom does not mean Bitcoin has bottomed.

• In the last cycle, mNAV bottomed about 6 months before BTC hit its price low.

• Forecast: Bitcoin could bottom between October and December 2026.

• Predicted BTC bottom price: $42,000–$44,000, with a model target of $44,016 on Oct. 31, 2026.

• The analyst says he is currently short BTC and plans to start buying spot Bitcoin near the projected bottom.

• The forecast is based on a proprietary mathematical model and is not a confirmed market outcome.

🇰🇷 JPMorgan raises its bull-case target for South Korea's Kospi index to 15,000, implying 77% upside from Wednesday's close of 8,471.

The bank also lifted its base-case target to 12,500 and bear-case target to 8,000, while maintaining its highest overweight on Korean equities and recommending investors buy on dips, citing AI strength, improving earnings, and continued retail inflows.

$MSTRB slips below $100 as Bitcoin slips below $61,500.

Spot silver fell below $60/oz to its lowest level since December, down 2.51%. New York silver futures hit $60/oz, down 3.34% intraday.

🇰🇷 South Korea chip stocks hit by leveraged ETF rebalancing

Bloomberg Intelligence estimates 2x leveraged ETFs tracking Samsung and SK Hynix sold roughly $6 billion worth of shares on Tuesday to reset daily leverage.

The selling accounted for around 14% of total trading turnover in Samsung and SK Hynix shares.

Despite the heavy selling, net outflows from the $44 billion leveraged ETF universe were just ~$1.7 million.

Leveraged ETFs are mechanically forced to buy during rallies and sell during declines to maintain 2x exposure, amplifying market moves.

Nvidia's AI chips are becoming increasingly expensive on China's black market as U.S. export restrictions tighten.

According to the Financial Times, Nvidia's DGX B300 AI servers are now selling for more than 8 million yuan (about $1.1 million) in China, roughly double their U.S. retail price.

U.S. authorities have intensified enforcement, including closing a loophole in May that had allowed advanced chips to reach Chinese subsidiaries through overseas channels.

Nvidia shares fell sharply on Tuesday amid a broader tech sell-off, with investors also worried about the company's future revenue outlook in China.