1️⃣ Market Update: Bitcoin drops below $60,000, trading at $59,851, down 1.7% in 24 hours — triggering roughly $600M in long position liquidations across the market.

2️⃣ Institutional Moves: Strategy common stock falls below $90 for the first time since February 2024; its preferred stock STRC drops below $76 intraday, down 24% from its par value of $100 and recording the lowest closing price ever.
3️⃣ Macroeconomic Update: US core PCE price index for May rises to 3.4% year-over-year, the highest reading since October 2023.
4️⃣ Industry News: SpaceX's stock decline raises warning signs for the IPO market, as OpenAI leans toward delaying its listing until next year.
5️⃣ Traditional Finance News: US AI stocks face a broad sell-off, with Atlassian falling over 8.38%; South Korean markets plunge 5%, triggering a circuit breaker, with SK Hynix down 6%.