News

BlockBeats News, June 2nd, Bitmine Immersion (BMNR) Chairman Tom Lee stated that the recent market anxiety surrounding institutional trends and insider selling is more like a typical sign of a market bottoming out rather than a bearish trend. Tom Lee downplayed market concerns about Strategy Execution Chairman Michael Saylor selling 32 bitcoins in an interview on Tuesday. "Michael had previously stated his plan to sell some bitcoins, so he is just executing his established plan," Lee said. "Ultimately, he still holds 99.99% of his bitcoins, and he can only truly profit when Bitcoin goes up." Previously, Saylor sold 32 bitcoins at an average price of around $77,135, cashing out about $2.5 million to help cover preferred stock dividends. This is Strategy's first bitcoin sale in nearly four years, triggering speculation in the market about whether this major bitcoin corporate holder is changing its long-term hodling strategy.

BlockBeats News, June 2nd. While the U.S. stock market may continue to hit record highs, Wall Street analysts responsible for tracking these markets are not eager to keep up with their upward momentum. Researchers are downgrading ratings of S&P 500 index component companies. JPMorgan data shows that in the broader Russell 3000 index, the proportion of component stocks rated as "buy" is nearly the same as four years ago, much lower than the peak level during the dot-com bubble. Whatever the exact reasons behind this new skeptical attitude, it is seen as a positive development. Looking at the issue from a contrarian perspective, this means that market sentiment has not reached the extremely bullish state typically seen at a market top. Andrew Greenbain, Senior Vice President of Stock Research Product Management at JPMorgan, said: "I usually consider market sentiment from the perspective of 'are there more buyers or sellers.' Currently, the selling side has not shown signs of buying." (Golden Finance)

On June 2, U.S. cloud computing service providers saw a pre-market surge, with NEBIUS rising over 6% before the market opened. The stock had surged over 14% yesterday, reaching an all-time high. CoreWeave also saw a pre-market increase of over 4%, after closing nearly 14% higher yesterday.