Gold Crashes Into Bear Market as Bitcoin Tests Critical Support | Stock Market Today

**SPEAKER_1** (0:00)
Welcome to Stock Market Today. Your market briefing with actionable insights on stocks, bonds, crypto, and the events moving markets. Let's get into it. Gold entered a bear market territory, breaking below its 200-day moving average near $4,300 per ounce for the first time since October 2023 The metal is down over 20% from its January peak of $5,600, pressured by strong jobs datum that pushed CME FedWatch probabilities toward a December rate hike to 3.75 to 4%.
The dollar index climbed back above 100 Bitcoin is trading at $63,795, stabilizing above critical support but fragile. Last week saw $1.72 billion in spot Bitcoin ETF outflows, the largest single week redemption in over a year. February saw only $318 million in outflows at similar prices. Institutional conviction has flipped. Strategy bought $1,550 Bitcoin for $101 million at $65,332 per coin. This follows their first sale in four years, adding $100 million to cash reserves now totaling $1 billion. The company holds $845,000 Bitcoin. Geopolitical risk spiked overnight. Iran and Israel exchange strikes, briefly pushing Brent crude above $98 before Iran announced operations concluded. South Korea's KOSPI crashed nearly 7%.
Japan's Nikkei dropped over 3%.
Oil pulled back, but volatility remains elevated. Major banks, including JP Morgan, Bank of America, and Citi, will launch a tokenized deposit network through the clearinghouse by first half 2027 This is a direct response to stable coins like USDC keeping funds inside the regulated banking system. Galaxy Digital lowered Clarity Act passage odds from 75% to 60%.
The bill needs Senate floor time before late July recess, requiring 60 votes and reconciliation.
Time is running out. Wednesday brings May CPI data, critical for Fed policy direction and crypto sentiment. Expect elevated volatility through week's end. That wraps your market intel. Trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot.ao.