BTCC Evening News Highlights (July 1)

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1. Bitcoin Rebounds Above $60,000, June ETF Outflows Hit Record
Bitcoin rebounded to around $60,000 after Warsh’s remarks and US economic data, but US spot Bitcoin ETFs recorded their worst monthly outflows ever in June, with about $4.5 billion leaving in a single month, 29% higher than the previous worst month, and ending the month with nine consecutive trading days of redemptions. CoinMarketCap data shows that the total global crypto market cap is about $2.07 trillion, up 2.46% over the past 24 hours, while Bitcoin dominance is about 57.89%.

2. US Stocks Close Slightly Lower, Semiconductor Index Drops 6.3%
US stocks closed slightly lower on Wednesday. The Dow fell 0.03% to 52,305.24; the S&P 500 dropped 0.22% to 7,483.23; and the Nasdaq declined 0.66% to 26,040.03. Chip stocks were the main drag on US equities, with the Philadelphia Semiconductor Index closing down 6.3%. Nvidia fell 1.7% and failed to follow the broader rebound in the “Magnificent Seven,” while memory chip stocks such as Micron and Sandisk led declines. AI-related stocks continued to diverge internally.

3. Meta Jumps 8.8% on Report It May Sell Excess AI Compute
Meta Platforms rose 8.8% on Wednesday after reports said the company is developing a cloud business and plans to sell excess AI computing capacity to third parties. The business is still in an early stage and may allow companies to use Meta’s AI infrastructure and models. Meta’s AI infrastructure spending this year is expected to reach as much as $145 billion, and the move is seen as an attempt to turn AI investment into a new revenue source.

4. US June ADP Employment Misses Expectations, Manufacturing PMI Remains in Expansion
US private-sector employment increased by 98,000 in June, below Reuters survey expectations of 118,000 and also below May’s 122,000. ISM data showed that the US June manufacturing PMI fell to 53.3 from 54.0 in May, but remained above the 50 expansion-contraction threshold, indicating continued manufacturing expansion. As supply conditions improved, companies felt less urgency to place orders, but AI investment continued to support manufacturing activity. Input prices remained elevated, while demand for semiconductors and other components stayed strong.

5. Warsh Reaffirms 2% Inflation Target, Says He Will Not Tolerate Inflation Above Target
Federal Reserve Chair Kevin Warsh said Wednesday at the European Central Bank forum in Portugal that the Fed remains committed to bringing inflation down to its 2% target, adding that anyone who thinks he would tolerate inflation staying above 2% for a long time will be “disappointed.” Warsh also said recent inflation expectations and inflation risks have declined, but declined to provide specific forward guidance or economic forecasts. He added that he will form a working group to review key monetary policy tools and emphasized greater reliance on real-time data.

6. Gold Rises More Than 2%, Supported by Softer Jobs Data and Warsh Remarks
Gold prices rose more than 2% on Wednesday. Reuters said spot gold gained 1.6% to $4,071.04 per ounce, while US gold futures for August delivery rose 1.1% to $4,082.4. ADP employment data came in below expectations, and Warsh’s comments that inflation risks had recently declined helped push Treasury yields lower and support gold. Silver rose 2.5% to $60.01 per ounce.

7. South Korea’s June Exports Rise 70.9%, Chip Exports Jump 199.5%
South Korea’s exports rose 70.9% year-on-year in June, while chip exports surged 199.5%, making South Korea one of the few countries with monthly exports exceeding $100 billion. The growth in exports was mainly supported by global AI-related demand. Markets also continue to focus on South Korea’s semiconductor, AI data center and physical AI projects. The South Korean government had previously announced multiple AI and chip investment plans, with Samsung and SK Hynix remaining core companies in the related supply chain.

8. Anthropic’s Latest AI Models Cleared From US Export Restrictions, Fable 5 and Mythos 5 Approved for Re-Release
The US Department of Commerce lifted export restrictions on Anthropic’s latest AI models, Fable 5 and Mythos 5. Access to the models had previously been suspended due to national security concerns, including the inability to verify users’ nationality in real time and the possibility that Fable 5 could be used to bypass safeguards and generate high-risk code. Anthropic later implemented enhanced protections and redirected high-risk requests to the safer Opus 4.8 model. Anthropic is working with the US government, Amazon, Microsoft, Google and others through the Glasswing program to develop industry standards for preventing AI jailbreaks.

9. Crypto Industry News
• The SEC is seeking public comment on regulatory rules for “new types of ETFs,” covering leveraged, options, crypto asset and prediction market-related ETFs, with a 60-day comment period.
• Since Paul Atkins took office in April 2025, the SEC has approved dozens of ETFs tracking crypto assets such as SOL and DOGE, with regulatory focus shifting toward prediction market ETFs.
• Robinhood launched a public blockchain, further expanding its crypto business.
• Cantor believes the Bitcoin bear market may be entering its final stage.
• Trump’s crypto income disclosures have intensified the urgency of negotiations over ethics provisions in the Clarity Act.

10. AI Industry News
• Meta is reportedly developing a cloud business to sell excess AI computing capacity to third parties, with the plan still in its early stages.
• Meta appointed Alex Schultz as its first chief data officer and promoted Nicole Moreno to chief marketing officer. The company’s AI infrastructure spending this year is expected to reach up to $145 billion.
• SoftBank Group said it has executed $10 billion of its $30 billion follow-on investment in OpenAI.
• xAI launched a new product, Voice Agent Builder, a no-code platform based on Grok Voice that allows developers and operators to quickly build voice agents with human-like conversational capabilities.