Here is the daily market update as of June 26, 2026:

🎯 Market Sentiment: Risk-Off
📰 Key Narrative: Higher-than-expected PCE (4.1%) killed remaining rate cut hopes and pushed Bitcoin below $60,000, while AI memory stocks surged on strong Micron earnings, telling a tale of two markets.
1️⃣ Macro & TradFi Pulse
🌐 US May PCE rose 4.1% year-over-year, breaking above 4% for the first time since April 2023, driven by energy prices and Trump's tariff policies. Q1 GDP was revised up to 2.1%, but weak private consumption indicated fragile demand.
📉 📉 stated that current policy is appropriate, with inflation not expected to 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 Strait of Hormuz, testing the fragility of the US-Iran ceasefire agreement. While near-term supply pressures have eased, geopolitical uncertainty remains.
2️⃣ Crypto Market Signals
₿ $BTC fell below $60,000 to approximately $59,595, as the higher-than-expected PCE data broadly pressured risk assets. Long liquidations dominated a brutal $887 million liquidation wave, with ETF net outflows of $414 million, bringing the three-day total outflow to nearly $1 billion.
🧩 $ETH bucked the trend, rising 3.25% to around $1,565, as Sharplink resumed ETH accumulation after eight months, receiving 5,000 ETH (worth approximately $7.85 million).
🧩 The ratio fell to 0.287, an extreme undervaluation level historically seen only during systemic panics or bear market bottoms, last occurring during the 2022 FTX collapse.
3️⃣ Risks, Regulation & Infrastructure
⚖️ $AAPL announced price increases of up to $300 across its Mac and iPad product lines, citing unprecedented rises in storage and memory costs due to AI data center demand. The stock fell over 6%, marking its biggest single-day drop since April 2025.
🔐 $MU shares surged approximately 15.7% as its quarterly earnings far exceeded expectations, with data center revenue up 346% year-over-year. Management raised Q4 guidance to $49–$51 billion, validating that AI storage demand will continue through 2027.