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Daily Market Report #759

it’s Monday a fresh week and the World Cup kicks off this week, which means half the people reading this will be checking lineups instead of charts by Thursday.

After the month crypto just had, watching football might be the healthier portfolio.

I am already seeing dozens of World Cup memecoins launching.

The bounce is holding into the new week, barely.

Bitcoin $62,737, up 1.5%. ETH $1,660, up 4.1%. SOL $65.58. XRP $1.14.

And here is the part that tells you where we actually are:

Fear & Greed dropped to 8.

We are bouncing and the fear gauge went lower.

That is the lowest reading I can remember in a long time, deep into the kind of territory where generational bottoms get made, or where things break further.

People are positioned for more downside, which is exactly the setup that produces a face-ripper if it comes.

CPI Wednesday.

PPI Thursday at 8:30 ET.

Jobless claims Thursday.

After the hot prints that started this whole correction in May, these numbers matter enormously.

Jobless claims already hit 225K last week, the highest since February, so the labour market is finally showing cracks.

If CPI and PPI come in soft, it gives the Fed room and this bounce gets legs.

If they run hot again, we revisit the lows.

Gold $4,460. Silver $72.79. Oil still holding near the highs, still the weight on everything.

The Iran situation has not resolved, and the energy tape is the transmission belt into all risk.

Bitcoin $62,737, up 1.5%. Dominance 56.1%.

Over 50% of supply is still at a loss, the structural bottom signal.

The Strategy story got a direct denial.

CEO Phong Le said the corporate strategy is to increase net Bitcoin and Bitcoin per share over time, and that rumours otherwise are just rumours.

The $11.5B unrealized loss is still real, but management is drawing a clear line.

Ethereum $1,660, up 4.1%.

Best bounce of the majors again.

ETH dominance is still crushed at 8.9%.

ETH leading the bounce off the bottom is at least a small sign that the most-hated major has sellers exhausted.

Solana $65.58, up 2.4%.

TVL bounced 4.1% on the day after a brutal week down 9%.

The build keeps going regardless of price, same as always.

XRP $1.14, up 1.9%.

Holding above $1 after the scare.

BNB $597, up 2.6%.

Clawing back toward $600.

Hyperliquid $60.75, up 2.8%.

Bouncing back after the Hayes-driven crash.

And Hayes now denies buying back HYPE, which only adds to the ZachXBT accusations from yesterday that he posts targets and then exits on his followers.

Hyperliquid weekly revenue surpassed $20M for the first time since February, according to DeFiLlama, confirming the fundamentals never broke even as the token got cut.

Monero $305, up 2.5%. Zcash $428, up 13.1%, the best performer in my universe.

After the 48% crash and the silent-minting bug, ZEC is ripping back, and Polymarket gives it a 45% shot at $100 by year-end.

The privacy thesis took the body blow and is already trying to get back up.

The shielded pool held at 30% through the whole panic, which is the detail that actually matters.

Bittensor $210, up 2.7%.

TAO bouncing with the AI names.

Polkadot $0.96, flat. Arbitrum $0.0815, flat. Starknet $0.0337, up 3.7%. PENGU $0.0067, flat, my Lil Pudgy holding steady. BORG $0.1580, up 3%.

The NFT story today is a good one for once.

Yuga Labs CEO Michael Figge confirmed the team completed a whitehat operation to rescue dozens of at-risk NFTs from an exploit in Flooring Protocol, including 29 Bored Apes, 2 CryptoPunks, an Azuki, a Moonbird, and more, now safely in Yuga’s custody.

They fronted the money and the NFTs through their GrailsOTC desk to pull the at-risk assets out before the exploit could drain them.

This is the good side of this space.

As an NFT collector who has been rugged more than once, seeing a major team run a whitehat rescue actually means something.

Jensen Huang Nvidia CEO brushed off the global chip selloff, saying everybody should be excited they can now buy the stock cheaper.

Armstrong predicts AI demand is near infinite but expects 80% of workloads to run on 99% cheaper models within 12 to 18 months, with energy and compute as the limiting factors.

That is the most important AI take of the week, and it is buried under the bounce.

If models get 99% cheaper, the entire cost structure of the AI buildout changes, and the question becomes energy, not chips.

What are you watching this week?