Bitcoin has seen large inflows to exchanges while stablecoin liquidity has continued to flow out, worsening both supply and demand conditions, according to CryptoQuant analyst Axel Adler. According to Odaily, Adler said this combination has been viewed as a key reason Bitcoin has fallen about 22% from its May peak. Adler noted that Bitcoin’s 30-day net exchange flow indicator has turned clearly positive at about +114,000 BTC. In early May, the market saw net outflows of roughly 85,000 to 115,000 BTC, which he described as an accumulation phase that has since shifted to a distribution phase. The indicator briefly rose to about +167,000 BTC in early June, suggesting more holders moved BTC to exchanges, increasing potential selling pressure. At the same time, the 30-day moving average of stablecoin net flows has remained negative at about -$105 million. In early May, the indicator was in the range of about +$40 million to +$90 million, which Adler said reflected stronger buying liquidity. It turned negative after mid-May and widened to roughly -$150 million to -$170 million in early June, indicating stablecoin funds were leaving exchanges. Adler said the market is currently facing a combination of increased BTC supply and reduced stablecoin demand, with rising selling pressure and insufficient new buying. He added that a trend reversal would require both indicators to improve: BTC returning to net outflows from exchanges and stablecoins flowing back into exchanges. Until both return to positive territory, Adler said any short-term rebound may be viewed more as a technical repair.

European Central Bank Governing Council member Gabriel Makhlouf said policymakers need to respond to inflation at an early stage. According to Jin10, Makhlouf said it was necessary to take action in advance to address inflation.

European Central Bank Governing Council member Gabriel Makhlouf said he was seeing broader effects from inflation and that failing to act would be a mistake. According to Jin10, Makhlouf said the ECB was observing wider inflation impacts and argued that inaction would be an error.

Ron Baron said he wants Baron Capital to buy $1 billion of SpaceX shares to avoid dilution. According to NS3.AI, Baron said SpaceX is looking to raise $70 billion from public markets after its debut on June 12th. Baron said SpaceX is targeting a $135 IPO price at a $1.77 trillion valuation.

Italian bank and insurer shares rallied this week after a potential bidding battle for Banca Monte dei Paschi di Siena SpA sparked broad gains across the country’s financial stocks. In a sign of renewed deal speculation, according to Bloomberg, the prospect of competing interest in Monte Paschi helped lift the wider sector.

The world’s top 10 wafer foundries posted a 3.7% quarter-on-quarter increase in revenue in the first quarter to $47.95 billion, setting a new record, according to TrendForce. According to Jin10, TrendForce said shipments tied to AI high-performance computing (AI-HPC) and related peripheral orders remained strong, while earlier-than-usual production and shipments across TV and PC/notebook supply chains, along with higher inventory levels for peripheral ICs, led foundries to receive advance production requests and additional orders. TrendForce said the seasonal slowdown in smartphone production continued, but its impact was largely offset by earlier pull-forward demand from the supply chain, leaving overall operations stronger than typical for an off-season. Looking to the second quarter, TrendForce said the benefits from early stocking by TV and PC/notebook ODMs and brands were expected to extend for about another quarter. It added that smartphones were gradually entering a new-model inventory build cycle. TrendForce said that as capacity utilization recovered, foundries had begun signaling to customers their intention to raise wafer foundry prices in the second half of the year. It said this was expected to help some process-node pricing bottom out and rebound, further encouraging customers to stock up in advance. TrendForce also said demand growth for AI-related advanced process technologies and power products was stronger than expected, contributing to order spillover and capacity crowding effects across the industry. TrendForce estimated that revenue for the top 10 global wafer foundries in the second quarter would reach another peak, with quarter-on-quarter growth accelerating compared with the previous quarter.

Raydium core contributor InfraRAY said the team has confirmed an attack on a legacy AMM V3 program that Raydium stopped using in 2021, in which an attacker removed some liquidity without authorization. According to Odaily, InfraRAY said the incident does not affect current Raydium users, and the related pools have been inaccessible through Raydium’s official UI since they were discontinued; Raydium’s SDK and DApp also do not support operations on the legacy AMM V3 mainnet pools. InfraRAY said five pools were affected: Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY, and RAY-SOL. Preliminary estimates put the stolen assets at about 150,177 RAY, 5,603 SOL, and 893,700 USDC, with total losses estimated at about $1.34 million, which InfraRAY said will be fully reimbursed by the treasury. InfraRAY said the investigation found the vulnerability stemmed from insufficient verification of the LP token mint address. The attacker allegedly created a new LP token and impersonated a legitimate LP token to bypass the protocol’s ratio-check mechanism and withdraw funds. InfraRAY said the incident was an isolated logic flaw rather than a private key leak or a permissions breach, and that there is no risk of the issue spreading. All current Raydium mainnet programs were not affected, InfraRAY added.

Coinbase đã ra mắt mã thông báo Bitcoin được bọc của mình, cbBTC, trên blockchain Solana, cung cấp cho người dùng một giải pháp thay thế đáng tin cậy cho Bitcoin trong hệ sinh thái DeFi của Solana. Động thái này hỗ trợ mục tiêu mở rộng ra ngoài Ethereum của Coinbase, khai thác thị trường đang phát triển nhanh chóng của Solana, nơi nó được xếp hạng là tài sản được giao dịch nhiều thứ ba của nền tảng.