Strategy purchased 1,550 Bitcoin for approximately $101.3 million last week, bringing its total holdings to 845,256 BTC.

The company paid an average price of $65,332 per Bitcoin for the purchase, according to a Monday 8-K filing with the US Securities and Exchange Commission. Strategy’s aggregate Bitcoin holdings were acquired at an average price of $75,680 per BTC, for a total cost of about $63.97 billion.

The latest acquisition was funded using proceeds from sales of Class A common stock through the company’s at-the-market offering program. According to the filing, Strategy generated $181 million in net proceeds from those stock sales during the first week of June.

Strategy now holds 845,256 BTC. At Bitcoin’s current price of about $63,600, its holdings are worth roughly $53.8 billion.

The company’s shares rose 6.55% in pre-market trading to $126.90 following the disclosure, according to Yahoo Finance data at the time of writing.

Strategy returns to Bitcoin buying after controversial sale

The latest purchase follows a Sunday X post by Strategy’s executive chairman, Michael Saylor, who said that it was “a good time to add more dots.”

Strategy purchased another 1,550 Bitcoin. Source: Strategy

The purchase also marks a resumption of the company’s BTC accumulation strategy after its controversial sale of 32 BTC last Monday, which was its first since 2022.

Related: Strategy’s leveraged Bitcoin model has faced its first stress test: Grayscale

Bitcoin price fell 21% following the sale, briefly retesting $61,000 for the first time in four months, and sparking heavy criticism from traders who warned of a potential “doom loop” if the firm were ever forced to sell reserves.

CryptoQuant CEO Ki Young Ju pushed back on criticism of Saylor on Friday after CNBC host Jim Cramer accused him of “murdering Bitcoin.” Ju argued that Bitcoin would have fallen to $22,000 if it weren’t for Strategy’s purchases.

In a Monday report, analysts from Bernstein said that Strategy had continued to grow its Bitcoin stack through a roughly 50% price drawdown and highlighted its resilient, overcollateralized and liquid balance sheet, while reiterating an “Outperform” rating and a $450 price target on the stock.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

MetaMask launched a new self-custodial wallet designed for AI agents, allowing autonomous software to trade across decentralized finance while keeping users in control of their funds, the Consensys-owned wallet provider said Monday.

The new MetaMask Agent Wallet gives AI agents access to swaps, perpetual futures, prediction markets and liquidity provisioning across Ethereum-compatible blockchains.

The launch comes as AI agents increasingly emerge as participants in crypto markets, executing trades and managing capital on behalf of users. MetaMask is pitching security as the wallet’s key differentiator.

The product is available through a limited early-access program, with a broader rollout planned in the next few months.

According to the company, every transaction initiated by an agent is automatically subjected to transaction simulation, threat scanning powered and MEV protection before execution. Transactions flagged as malicious will require human approval through two-factor authentication.

MetaMask said transactions deemed safe are covered by its Transaction Protection program, which provides up to $10,000 in protection against losses.

Users can choose between a default “Guard Mode,” which enforces spending limits, protocol allowlists and approval requirements, and an opt-in “Beast Mode” that reduces prompts while still requiring approval for potentially malicious transactions.

“The next great expansion of the onchain economy won’t be driven by humans alone,” Consensys CEO and Ethereum co-founder Joe Lubin said in a statement. “Agents will manage real capital and make real financial decisions, and the infrastructure underneath has to be worthy of that.”

Read more: MetaMask expands debit card across U.S. after year-long pilot

TLDR

• The Nasdaq Composite surged more than 1% on Monday, bouncing back from Friday’s steepest decline in over 12 months
• Semiconductor stocks spearheaded the rally, with Micron surging 9% and Nvidia climbing approximately 2%
• Iran announced it would cease military actions against Israel, reducing pressure on crude oil markets
• Friday’s sharp decline followed robust May employment data that sparked concerns about potential Federal Reserve rate increases
• Important upcoming events include Wednesday’s CPI release and SpaceX’s anticipated Friday IPO

U.S. equity markets opened the week on a positive note Monday as traders returned to technology stocks after Friday’s dramatic downturn.

The Nasdaq Composite advanced approximately 1.2% to reach 26,025. The S&P 500 climbed 0.6% while the Dow Jones Industrial Average increased by roughly 0.2%.

Friday’s trading session witnessed the Nasdaq plunge 4%, marking its most severe single-day loss in more than a year. The S&P 500 simultaneously ended its impressive nine-week rally.

The market downturn was ignited by stronger-than-expected May employment figures. This data prompted market participants to increase their expectations that the Federal Reserve might implement interest rate hikes before year-end.

Economist David Rosenberg challenged this interpretation. He noted that approximately two-thirds of employment growth originated from leisure and hospitality, municipal government, and healthcare and education industries, partially influenced by World Cup preparations.

Semiconductor stocks experienced the most significant losses on Friday but mounted an impressive comeback Monday. Micron soared 9% while Nvidia rose roughly 2%.

Nvidia CEO Jensen Huang indicated the recent pullback represented a purchasing opportunity for investors seeking exposure to artificial intelligence technologies.

Middle East Conflict Creates Initial Volatility Before Resolution

Oil prices jumped during early trading after Iran launched missile strikes against Israel for the first time since April. Israel retaliated despite President Trump urging restraint from both nations.

Crude prices retreated following Iran’s declaration that its military campaign against Israel had concluded.

Both Brent crude and West Texas Intermediate futures reduced their gains after the ceasefire statement.

The U.S. dollar weakened on optimism surrounding potential diplomatic resolution between the two nations. Treasury yields also moderated following earlier increases connected to the employment report.

Several market strategists had warned that equities appeared overextended following substantial April and May advances. Paul Hickey from Bespoke Investment Group indicated that a correction was anticipated given the magnitude of recent price appreciation.

As technology shares declined last Friday, capital rotated into defensive market segments. Healthcare emerged as one of the sectors attracting investment flows during the repositioning.

Market participants will closely monitor Wednesday’s Consumer Price Index data to assess whether elevated oil costs are influencing core inflation metrics.

Oracle’s earnings report is also scheduled for Wednesday, providing additional insight into enterprise technology expenditure trends.

The trading week may conclude with a landmark corporate event. SpaceX is anticipated to debut publicly on Friday in what could become the largest initial public offering in history.

Financial markets continue to exhibit sensitivity to both macroeconomic indicators and international developments as the week progresses.

Bitcoin (BTC) approached intraday highs ahead of Monday’s Wall Street open, with $60,000 holding as key support.

Key points:

• Bitcoin avoids another retest of $60,000 as Wall Street returns, but bear-market standards call for lower.
• A rebound to $64,000 is being watched for signs that worse is yet to come.
• Macro headwinds multiply as the Japanese yen reenters the picture.

Bitcoin price decides on ranging versus breakdown

Data from TradingView showed BTC price selling pressure easing after the weekly close — Bitcoin’s lowest since October 2024.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Attention focused on the $60,000 mark amid a broad lack of bullish sentiment on both shorter and longer time frames.

“Holding the $60K low and I will just assume this is a range for now,” trader Daan Crypto Trades forecast in his latest analysis on X. 

“I can easily see us trade in this $60K-$80K region for quite a while. Just need to not turn bearish at the range low and not get too excited at the range high region.”

BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/X

An accompanying chart showed Bitcoin’s 200-day simple moving average (SMA) now acting as low-time-frame resistance.

Among those seeing bearish continuation was trader and analyst Rekt Capital, who told X followers to watch for a failed rebound and subsequent weakening of support at $60,000.

“Bitcoin has now tagged the 200-week SMA for the first time in this Bear Cycle,” he added about another important bear-market feature late last week. 

“Deviating below it has historically been the key to building out a Bear Market bottom formation.”

BTC/USD two-week chart with 200-week SMA. Source: Cointelegraph/TradingView

Bitcoin analysis says macro “tapping it on the shoulder”

On the macro front, analysis pointed to several key headwinds complicating the picture for crypto and risk assets.

Related: BTC price bottom not due until Q4? Five things to know in Bitcoin this week

These were interest-rate plan expectations from the US Federal Reserve, the Japanese yen passing 160 per dollar and the US-Iran war.

“Taken together, these are not exactly ideal conditions for high-beta assets,” trading resource QCP Capital wrote in its latest Market Color bulletin.

“BTC is effectively being asked to perform while oil, rates, FX and geopolitics are all tapping it on the shoulder.”

USD/JPY one-hour chart. Source: Cointelegraph/TradingView

QCP argued that given Asia equities weakness on Monday, Bitcoin’s next moves would be telling when it comes to its recent divergence from stocks.

“If crypto can hold while equities digest the AI-led correction, the market may start to rebuild a cleaner standalone narrative. If not, the apparent decoupling may prove to be less independence and more delayed reaction,” it suggested.

TLDR

• Krane Funds Advisors increased its position in AMD by 72.7% during the fourth quarter, now holding 11,306 shares valued at approximately $2.42 million.
• The chipmaker delivered first-quarter earnings of $1.37 per share, surpassing Wall Street expectations by $0.08, while revenue climbed 37.8% year-over-year to $10.25 billion.
• Goldman Sachs shifted its stance on AMD from Neutral to Buy, increasing its price target from $240 to $450; TD Cowen pushed its target even higher to $600.
• Shares opened at $466.38, significantly exceeding the 50-day moving average of $358.36, while the consensus price target stands at $419.86.
• Company insiders offloaded $119.5 million in shares during the last 90 days, while semiconductor stocks faced headwinds following Broadcom’s disappointing AI forecast.

Advanced Micro Devices has emerged as one of the semiconductor industry’s most compelling narratives in recent months. A combination of impressive quarterly results, multiple analyst endorsements, and heightened institutional participation has propelled the stock significantly beyond its recent trading ranges — despite encountering some volatility.

Advanced Micro Devices, Inc., AMD

Shares began trading Monday at $466.38, representing a substantial premium over the 50-day moving average of $358.36 and significantly above the 200-day moving average of $265.16. With a 52-week trading band stretching from $115.06 to $546.44, the stock’s trajectory has been nothing short of dramatic.

The primary driver behind this recent optimism was AMD’s first-quarter financial performance. The semiconductor company reported earnings of $1.37 per share, exceeding the Street’s $1.29 consensus. Revenue reached $10.25 billion, topping expectations of $9.90 billion and marking a 37.8% increase compared to the prior-year period.

Such outperformance typically captures the attention of Wall Street analysts.

Wave of Analyst Endorsements

Goldman Sachs elevated AMD from Neutral to Buy on May 6th, simultaneously raising its price objective from $240 to $450. Sanford C. Bernstein followed suit, upgrading shares from Market Perform to Outperform while boosting its target from $265 to $525.

TD Cowen took the most aggressive stance, elevating its price target to $600 on June 1st while reaffirming a Buy recommendation. JPMorgan maintained its Neutral position but still increased its target from $270 to $385. Barclays established a $665 price objective, citing accelerating CPU demand driven by expanding artificial intelligence workloads.

The prevailing analyst consensus is Moderate Buy, with a mean price target of $419.86. Notably, this figure trails the current trading price, suggesting the recent rally has outpaced Street expectations.

Krane Funds Advisors was among the institutional players expanding their AMD holdings in the fourth quarter, increasing its stake by 72.7% to 11,306 shares worth approximately $2.42 million. Vanguard stands as the largest institutional stakeholder with more than 158 million shares valued at roughly $33.9 billion. Norges Bank established a fresh position worth about $4.9 billion during Q4.

Institutional investors and hedge funds collectively control 71.34% of AMD’s outstanding equity.

Executive Selling and Market Challenges

Not all signals point upward. Company executives have divested $119.5 million worth of AMD shares over the past three months. EVP Paul Darren Grasby disposed of 24,376 shares at $444.39 apiece on May 8th. EVP Mark D. Papermaster sold 31,320 shares at $350.00 on April 24th through a prearranged 10b5-1 plan.

From a broader market perspective, AMD experienced pressure following Broadcom’s quarterly results, which underwhelmed investors expecting more robust AI-related guidance. This development weighed on chip stocks across the board and renewed valuation debates surrounding AMD, particularly given its price-to-earnings multiple of 152.91.

TSMC has indicated that artificial intelligence chip supply constraints will persist for years, supporting demand fundamentals while highlighting ongoing capacity limitations throughout the industry.

Wall Street analysts currently forecast AMD will deliver $6.20 in earnings per share for the complete fiscal year.

The escalating feud between Justin Sun and Donald Trump’s World Liberty Financial has reached a new level as Sun’s HTX has now delisted USD1.

Sun and World Liberty Financial have, for months, been involved in a public dispute that’s spilled over from X and into the courts.

This delisting comes comes after Sun alleged that World Liberty attempted to strong-arm him into becoming a larger minter of the Trump-affiliated stablecoin.

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 1715.91, up 6.7% (+107.11) since 4 p.m. ET on Friday.

Nineteen of 20 assets are trading higher.

Leaders: NEAR (+12.3%) and TAO (+12.0%).

Laggards: BCH (-3.2%) and AVAX (+1.1%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Bitcoin’s BTC$63,578.60 slide below $60,000 may have less to do with Michael Saylor’s Strategy (MSTR) and more to do with inflation creeping higher, one analyst argued.

In a Monday report, Markus Thielen, founder of 10x Research, wrote to clients that investors have largely misread the drivers behind crypto’s sharp selloff over the past weeks. While much of the market focused on Strategy’s first bitcoin sale since 2022 and the potential overhang if the largest corporate holder sells more, the bigger story has been a wave of institutional selling through spot bitcoin exchange-traded funds (ETF), he said.

Since the U.S. inflation report for April came in higher than anticipated on May 12, U.S.-listed bitcoin ETFs have seen roughly $5.4 billion in net redemptions, Thielen noted. During the same period, Strategy accumulated about $2 billion worth of bitcoin, making it one of the few significant buyers in the market.

“The market has misdiagnosed this selloff,” Thielen wrote. “Strategy is not the problem.”

Thielen said that attention should turn now to Wednesday’s consumer price index report for May, which could determine whether bitcoin’s recent correction deepens or stabilizes.

10x’s model forecasts annual inflation rising to 4.3%, above both the previous month’s 3.8% reading and Wall Street’s consensus estimate of 4.2%. A reading above 4% could reinforce concerns that the Federal Reserve will need to keep interest rates higher for longer, or potentially even consider additional hikes, the report said.

That would be unwelcome news for risk assets. Markets entered the year expecting multiple rate cuts, but after a string of hotter-than-expected inflation and labor market readings traders are now pricing out easing altogether and increasingly discussing the possibility that the Fed’s next move could be a hike rather than a cut.

While bitcoin appears technically oversold after its recent plunge, Thielen cautioned against treating a short-term bounce as the start of a sustained recovery. The firm expects bitcoin could see a relief rally early in the week, but the move will likely to fade if inflation surprises to the upside.

The broader flow picture has also remained weak, 10x Research said. Stablecoins recorded roughly $1.7 billion of net outflows last week and $5.5 billion over the month, suggesting capital leaving the crypto market. Meanwhile bitcoin futures open interest has fallen sharply as traders reduced exposure.

Thielen said ETF flows remain the key metric to watch to gauge bitcoin’s next move. “Institutional ETF flows are driving price,” he wrote. “Follow the money, not the narrative.”

Read more: Bitcoin’s slide has no single cause. AI, tech IPOs, quantum, Strategy sale all play a role, NYDIG says