Prominent trader: Bitcoin remains range-bound and is approaching the bear market low.

Skepticism toward AI was fully laid bare in the market reaction to this quarter’s large-cap tech earnings. Tech giants’ post-earnings performances diverged sharply: Meta tumbled as much as 8% in after-hours trading after issuing disappointing quarterly revenue guidance and posting its lowest free cash flow in years, a signal of surging expenses from its AI bets. On the other hand, Microsoft’s stock closed nearly 16% higher post-earnings, lifting its market cap by a staggering $450 billion in a single day — the largest one-day gain for any individual stock on record. The catalysts: the fastest cloud business growth in four years, and the company’s indication that it will rein in new capital expenditures this year. Amazon’s stock rose 15% post-earnings, as its upbeat cloud revenue — with growth hitting a four-year high — eased market concerns over returns on massive AI spending. Bob Lang, founder and chief options analyst at Explosive Options, said investors will eventually grow weary of the relentless spending by mega-cap firms, so it’s no surprise to see a company get a lift for reining in expenditures. Global stocks linked to the AI supply chain, as well as firms that power or adopt AI technology, also appear to be back in favor. (Jinshi)

Prediction market platform Polymarket puts the probability of Bitcoin rising to $70,000 in August at 26%. Additionally, the probability of Bitcoin hitting $65,000 is 80%, while the probability of it falling to $60,000 is 56%.

This week, the combined market capitalization of six U.S. tech giants that have released earnings reports has shifted nearly $2 trillion, as investors pick winners based on cloud business growth and returns on AI capital expenditures. Alphabet, Amazon, and Microsoft together added nearly $1.5 trillion in market value, with Microsoft rising by over $600 billion, and both Amazon and Alphabet gaining more than $400 billion each. Meanwhile, Apple’s market cap shed over $350 billion, Meta fell by around $85 billion, and Tesla dropped roughly $7 billion. Although Apple exceeded expectations for revenue, earnings, and iPhone sales, it projected this quarter’s revenue growth at 9% to 11% — below analysts’ forecast of 12% — and noted that storage chip shortages and competition for wafer manufacturing capacity will continue to limit supply. Its stock closed down more than 7% on Friday. Amazon’s second-quarter AWS revenue rose 37% year-over-year, marking its fastest growth rate since 2021, driving its stock up over 15% on Friday. The company also raised its 2026 capital expenditure forecast from $200 billion to $220 billion. Microsoft rose 15% on Thursday, while Meta fell 8%, reflecting a clear divergence in the market’s assessment of the two firms’ AI investment returns. Jefferies stated that U.S. tech giants’ AI spending over the next 12 months is approaching $800 billion. The current market debate is no longer over whether real demand for AI exists, but whether long-term profits can support such large-scale investments.

According to Onchain Lens monitoring, roughly 4 hours ago, a Hyperliquid trader’s long position of 47,610 BRENTOIL was liquidated, incurring a loss of approximately $277,600. Six days earlier, another BRENTOIL position held by the same trader was also liquidated, resulting in a loss of about $288,500. The combined loss from these two liquidations totals roughly $566,100, while the trader’s cumulative historical losses stand at around $2.86 million.

According to monitoring by Onchain Lens, a newly created wallet withdrew 100 BTC from BitMEX, valued at approximately $6.34 million. Another wallet linked to the same entity received 5.055 BTC, worth around $318,530. Combined, the two withdrawals total 105.055 BTC, with a total value of roughly $6.66 million.

According to the Financial Times, Apple’s internal security team has seen a surge in vulnerability reports as numerous researchers use AI models to hunt for software flaws, leading the company to limit the number of vulnerabilities researchers can submit simultaneously in June and impose a 30-day cooling-off period. Apple said some AI-generated reports fabricate security risks, straining its review system. Italian cybersecurity startup Bynario said it used OpenAI’s ChatGPT to uncover over 50 vulnerabilities in the latest MacBook operating system in three weeks, including a privilege escalation attack chain that could let attackers gain full control of Apple computers. However, due to Apple’s report submission limits, the firm was temporarily unable to file the relevant vulnerabilities. Apple said it has since reached out to Bynario and begun reviewing the findings. The company noted that every security report still requires manual verification, and it is also using AI internally to categorize the flood of submissions. Researchers can apply for higher submission quotas to ensure critical vulnerabilities reach the security team. Bynario estimates the privilege escalation flaw it discovered could be worth between $100,000 and $200,000 on the cybercriminal black market. Apple launched a new bug bounty program last year, offering up to $5 million for discovering the most severe and complex threat categories in its software. Apple’s system security update released this week also revealed that tools from Anthropic and OpenAI helped identify multiple device vulnerabilities, with the number of fixes this cycle roughly five times that of previous update periods. Security firm Sophos noted that AI is boosting the efficiency of real vulnerability discoveries while generating a large volume of low-quality reports, shifting the challenge for bug bounty programs from "finding flaws" to rapid verification, prioritization, and response.