In brief
Bitcoin and crypto are making me sad.
— Dave Portnoy (@stoolpresidente)
Bitcoin and crypto are making me sad.
— Dave Portnoy (@stoolpresidente)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
AI "New Cloud" rebounds sharply after overselling, quickly cooling down! CoreWeave briefly switched from gains to losses, IREN's gains slashed by half
On Thursday, US stocks in the AI sector experienced a sharp sell-off, with CoreWeave, Nebius, and IREN dropping by approximately 10%, 15%, and 17% respectively. After Thursday's close, IREN's earnings report exceeded expectations with significant revenue growth from its AI Cloud business. Combined with a broad rebound in tech stocks on Friday, US pre-market saw CoreWeave up 9.3%, IREN up 24.6%, and Nebius up 13.7%. However, during the US market midday session, American media reported that Microsoft will not renew part of its computing power lease with Oracle, once again dampening the slightly improved market sentiment and narrowing gains in the Neocloud sector.

1998 VS 2000, Goldman Sachs executive: AI sell-off resembles LTCM crisis rather than the internet bubble, but key questions remain unanswered
Goldman Sachs Delta One Trading Head Privorotsky is more inclined to compare the recent sharp decline to the 1998 LTCM crisis, which was a liquidity shock. At that time, the fundamentals of US economic growth remained sound, and once liquidity was restored and the Fed cut rates, the market quickly recovered its losses. However, the current market does not have the support of Fed rate cuts. Privorotsky also pointed out that the real issue for AI now is whether revenues can ultimately match the capital invested, a question that remains unanswered.

Zcash ETF leads $16.8 million altcoin fund outflows, Hedera bucks trend

Ethereum falls 8% to $2,200 as ETF outflows hit $99.9 million
