BabyGi

Huang Renxun lands in Seoul, and the Korean stock market immediately gives a welcome ceremony: SK Hynix -10%, LG -7%, Naver -4%, SK Telecom -2%, all without gunfire, just landing
This is not a coincidence, this is called Huang Renxun's visit tax
Last week, Nvidia downgraded some products' memory configurations, and Huang Renxun personally appeared in Seoul, and the market connected the two events
Once you understand, after monopolizing computing power, the next step is to compress upstream profit margins. The visit may not be for cooperation, but possibly to negotiate terms
Historically, whene

BTC current price $60,585, today’s decline -5.33%, intraday low touched $60,333. Gold, silver, and oil decline in sync
Today’s catalyst: U.S. non-farm payrolls report exceeded expectations with strong numbers
Then Trump said: The economy is strong, the stock market should rise, it has been like this for the past 200 years, economic growth does not mean inflation. He is talking about the logic from 200 years ago
The market’s answer points to 2026: the stronger the employment, the farther the rate cuts, the stronger the dollar, and the more pressure on risk assets
This is the modern vers

Anthropic's valuation is $965 billion, with a potential IPO as early as October, surpassing OpenAI
In the same week, a research report was released, stating that by May 2026, over 80% of the main code repository's merged code was written by Claude. AI is writing its own code and achieving partial closed-loop training in small models
Also in the same week, it publicly called for a pause on cutting-edge AI development. All three lines coexist
This is the deepest endogenous contradiction in the AI industry: the most risk-aware individuals are also the fastest runners. They know this could s

Since May 15, the US BTC spot ETF has experienced net outflows for 13 consecutive trading days, totaling $4.33 billion over 13 days, with a total outflow of $5.42 billion over a 20-day window.
All rolling outflow windows of 7 days, 10 days, and 20 days have set historical records; this is the most severe ETF capital withdrawal since records began.
Strategy holds 843,706 BTC, currently with an unrealized loss of about $10 billion, a 17% loss over 6 years of accumulated purchases. During the same period, the S&P 500 has risen 116%.
Saylor's response is: This is capital rotation, not damage

NVIDIA announces Vera CPU enters mass production, officially entering the PC chip market, a direct challenge to Intel and AMD
On the same day, VOO's scale surpasses $1 trillion, becoming the world's largest single ETF
NVIDIA announces memory downgrades for some products, Micron and SK Hynix respond with two consecutive declines
Many people's first reaction to the memory downgrades is, is AI demand peaking? Quite the opposite~
NVIDIA's memory downgrades are not due to demand shrinking, but actively restructuring supply chain dominance. When you monopolize computing power, you have the a

The market never says "You're good," only "You must do better."
Growth isn't fast enough, so it drops.
Expectations aren't strong enough, so it drops.
The story isn't sexy enough, so it drops again.
This is the current pricing logic: $AVGO revenue year-over-year +48%, missing Wall Street's expectation of 85 million, down 8% after hours. It's not that it's bad, it's that it's not good enough, with near-zero tolerance for error.
The more differentiated the market, the more it filters out; leading companies will be seen, false concepts will be kicked out, with no middle ground.
There are only th

Cryptocurrency drops 7%, U.S. stock chip sector hits a new high for the year on the same day
This is not a coincidence, this is a script
Oil prices plummet 10% in a single day, Iran talks advance, U.S. Treasury yields fall back, Dell, Marvell, Snowflake earnings all beat expectations
U.S. stocks today received a textbook-level set of multiple positive signals
$MRVL reached a new high of $324.15 intraday for the year, $AVGO hit a new all-time high of $495 on the same day
$BTC breaking $62K
on the same day is not called divergence, it’s called capital making a multiple-choice quest

Illustration: Eating a beautiful meal with a beautiful person😋
Disney's escape Miki & Crayon Little Mi
The two sisters I brought into the crypto world
I actually rarely chat with people normally
Most of the time I prefer to be alone
Not to disturb others
And I don't want others to disturb me
My sister said that after I entered the crypto world, I gossip a lot
Because we used to not gossip or talk about gossip
They also never liked to ask about these things
She asked me soulfully: Why do you want to know about others?
For example: whose project is which, which is a group member's coin, which g

Girls, stop indulging in fairy tales.
You're not Maggie Cheung Yao, so you won't meet He Youjun!
I saw on social media a girl who looks very average,
An almost 40-year-old woman born in the 80s who has been single for years.
She's not not dating,
Her standards for a partner are just extremely high.
What she wants in a man: tall, handsome, wealthy, and faithful.
She says, if the other person can meet the first few conditions but can't be faithful, she can't accept that either.
She considers herself a woman with "good conditions," so she should match with high-quality men.
(The

Over the past 12 months, the top 50 U.S. stocks added $19 trillion in market value
which is 13 times the total market cap of $BTC
This is the reason for the crypto decline, not that crypto has a problem, but that the world's smartest money is completing a valuation shift: from digital gold to AI infrastructure
Both narratives are betting on the future, but AI already has earnings reports, cash flow, and shipment numbers from Nvidia to support it today
BTC can't beat this story, at least not now
But $19 trillion won't stay in the NASDAQ forever, the AI capital expenditure cycle will

June started off looking bad, but I don't think this is the end.
$BTC/ $ETH weakens immediately at the start of the month, ETF continues large outflows, MicroStrategy is reported to be selling coins.
These three things stacking together make the short-term narrative very ugly; if you're only looking at the price, it's indeed not an exciting time.
But what I really care about is another trend quietly unfolding.
Japan's stablecoin legislation proposal is entering countdown to implementation, the US ETF approval process hasn't stopped, and Grayscale continues to release long-term bullish outlook

Everyone is watching Nvidia, but this year’s real winners are not it
Lumentum +121%, Applied Materials +67%—you may not have heard of either name much, but they are tool suppliers that make AI chips, and they’ve outperformed everyone
The market is quietly moving upstream: it’s not just buying compute power anymore, it’s starting to buy the infrastructure that builds compute power
Nvidia itself is also showing you the direction through action—just poured $3.8 billion into two AI companies, and is making a big bet on photonics, using light to transmit data instead of electricity for higher

How many do you need to collect? You can summon the dragon in the crypto world
Achieve financial freedom
@elonmusk @cz_ @justinsuntron

Liquidity continues to tilt towards the US stock market
BTC ETF net outflows of $2.3 billion in May, while the Nasdaq hits new highs, AI chip stocks are rising across the board, the same group of institutional funds actively migrating, it's not a coincidence
The logic is straightforward, the real yield on US bonds is high, the appeal of yieldless assets is decreasing, $BTC relies on scarcity and expected appreciation to support valuations
In an environment pushed by the hawkish stance of Warsh and ongoing rate cut expectations, the cost-effectiveness has been outperformed by AI stocks w

Market declines, $HYPE rises
This pattern has been repeatedly appearing these days, which already indicates a problem
$56 held the line, rebounded from the low to $62 today, +6.7% intraday
Why is it strong?
Hyperliquid perpetual contracts on-chain trading volume has been competing for CEX market share, business data is not bad
Market decline is due to macro pressure, BlackRock withdrawal, ETF outflows, HYPE is falling due to sentiment, not fundamentals
Funding rates are not high, long-short ratio is balanced, this rebound was not driven by leverage, the structure is relatively cle