📢 Gate Square Daily | June 26

Stay up to date with today's key developments across the cryptocurrency market, macroeconomy, institutional investments, and global financial markets.

📉 Market Update
Bitcoin (BTC) has slipped below the $60,000 level, currently trading at $59,851, down 1.7% over the past 24 hours. The sharp decline triggered approximately $600 million in long-position liquidations, highlighting increased volatility and continued pressure on leveraged traders.

🏛️ Institutional Moves
Strategy's common stock fell below $90 for the first time since February 2024, reflecting growing market uncertainty. Meanwhile, its preferred stock STRC dropped below $76 during trading—representing a 24% decline from its $100 par value and marking its lowest closing price since listing.

📊 Macro Trends
The U.S. Core PCE Price Index, the Federal Reserve's preferred inflation gauge, rose to 3.4% year-over-year in May—its highest reading since October 2023. The stronger-than-expected inflation data has reinforced expectations that interest rates could remain elevated for longer.

🚀 Industry Dynamics
A recent pullback in SpaceX's stock valuation has sparked fresh concerns about investor sentiment toward high-growth private companies. At the same time, OpenAI is reportedly leaning toward delaying its highly anticipated IPO until next year, signaling a more cautious approach to public market conditions.

📉 Traditional Markets
Risk sentiment weakened across global equity markets as U.S. AI-related stocks broadly declined. Atlassian led losses with a drop of more than 8.38%, while South Korea's stock market plunged 5%, triggering a market-wide circuit breaker. Semiconductor giant SK Hynix also fell 6%, adding to pressure across the technology sector.

🌍 Market Insight
From crypto liquidations and persistent inflation to institutional weakness and global equity selloffs, today's market reflects growing risk aversion across both digital assets and traditional finance. Investors remain focused on macroeconomic signals and central bank policy as they navigate heightened market volatility.

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