Here's your daily market update as of June 26, 2026:

🎯 Market Mood: Risk-Off
📰 Main Narrative: Hotter-than-expected PCE at 4.1% killed remaining rate-cut hopes and pushed BTC below $60,000, while AI memory stocks surged on Micron's blowout earnings in a tale of two markets.
1️⃣ Macro & TradFi Pulse
🌐 US May PCE rose 4.1% year-over-year, the first reading above 4% since April 2023, driven by energy prices and Trump's tariff policies, with Q1 GDP revised up to 2.1% but weak private consumption signaling fragile demand.
📉  said current policy is appropriate and inflation won't return to 2% until 2028, effectively closing the door on near-term rate cuts and reinforcing the higher-for-longer narrative.
🏦 Iran's Revolutionary Guard attacked a Singapore-flagged cargo ship near the Hormuz Strait, testing the fragility of the US-Iran ceasefire and keeping geopolitical uncertainty alive despite recent supply easing.
2️⃣ Crypto Market Signals
₿ $BTC broke below $60,000 to around $59,595 as hotter PCE data pressured risk assets broadly, with long liquidations dominating a brutal $887 million flush and ETFs posting $414 million in net outflows, bringing the three-day total to nearly $1 billion.
🧩 $ETH bucked the trend with a 3.25% gain to around $1,565, as Sharplink resumed ETH accumulation after eight months, receiving 5,000 ETH worth roughly $7.85 million.
🧩 The dropped to 0.287, a level of extreme undervaluation that has historically appeared only during systemic panic or bear market bottoms, last seen during the 2022 FTX collapse.
3️⃣ Risk, Regulation & Infrastructure
⚖️ $AAPL announced price increases of up to $300 on Mac and iPad lines, citing unprecedented rises in storage and memory costs driven by AI data center demand, sending shares down over 6% in their largest single-day drop since April 2025.
🔐 $MU surged roughly 15.7% as its quarterly earnings far exceeded expectations, with data center revenue growing 346% year-over-year and management raising Q4 guidance to $49 to $51 billion, validating AI storage demand well into 2027.