Here is your daily market update for June 26, 2026:

🎯 Market Mood: Risk-Off
📰 Main Narrative: Hotter-than-expected PCE at 4.1% crushes the remaining hope for a rate cut and pushes BTC below $60,000, while AI memory stocks surge as Micron’s outstanding earnings take center stage across two markets.
1️⃣ Macro & TradFi Heartbeat
🌐 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. Q1 GDP was revised up to 2.1%, but weak private consumption signals point to fragile demand.
📉 says current policy is on the right track and inflation will not 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 and keeping geopolitical uncertainty alive despite recent easing in supply.
2️⃣ Crypto Market Signals
₿ $BTC fell below $60,000 to around $59,595 as hotter PCE data weighed on risk assets across the board, with long liquidations dominating a brutal $887 million sell-off and ETFs recording net outflows of $414 million, bringing the three-day total to nearly $1 billion.
🧩 $ETH rose 3.25% to around $1,565, going against the trend, as Sharplink continued accumulating ETH after eight months, receiving 5,000 ETH worth approximately $7.85 million.
🧩 fell to 0.287, an extreme undervaluation level that historically has only appeared during systemic panic or at bear-market bottoms—last seen during the 2022 FTX collapse.
3️⃣ Risk, Regulation & Infrastructure
⚖️ $AAPL announced price increases of up to $300 on the Mac and iPad lines, citing unprecedented storage and memory cost hikes driven by demand from AI data centers, sending shares down more than 6% in the biggest one-day decline since April 2025.
🔐 $MU surged by about 15.7% as quarterly revenue far exceeded expectations, with data center revenue up 346% year-over-year, and management raised its Q4 guidance to $49 to $51 billion, validating AI storage demand through 2027.