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Israel strikes south Lebanon despite truce announced with Hezbollah
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Japan's Ogura smashes own track record to take Czech MotoGP pole
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Hurricanes blow away Chiefs in record-breaking Super Rugby final
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Germany meet Ivory Coast in high-stakes World Cup clash, Sweden face Dutch
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Ancient Greek theatre revives legendary Callas opera Medea
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Indian guru urges broader view of yoga
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Portugal's unofficial exorcism fever worries Church
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Paraguay's Almiron sent off under new FIFA 'mouth-covering' rule
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Ancelotti hails 'complete game' as Brazil sink Haiti at World Cup
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Tunisia ask how Sweden World Cup star Ayari slipped its net
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Scotland remain bullish despite Morocco World Cup setback
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USA down Australia to reach World Cup knockout rounds, Brazil swat Haiti
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Brazil cruise past Haiti to re-ignite World Cup campaign
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Australia detects first case of contagious H5 bird flu
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Scheffler career Slam chances blowing in Shinnecock winds
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Iran's treatment at World Cup 'a dark point' for football: official
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McIlroy seven back but likes his chances at US Open
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Nagelsmann eyes same German lineup against I. Coast after Curacao trouncing
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Clark leads US Open by four with major champs in the hunt
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Saibari early strike gives Morocco World Cup win over Scotland
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Archaeologists discover 'never before seen' pre-Hispanic ruins in Mexico
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Pochettino backs 'high IQ' players to block out World Cup hype
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James Burrows, prolific innovator in US TV comedies, dead at 85
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Douglass breaks 50m free world record at Indy Pro Swim
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World Cup warning with Sweden star Isak 'getting stronger and stronger'
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'Like China': Cubans welcome reforms but exiles remain skeptical
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Tunisia coach says 'I am no wizard' after World Cup SOS call
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USA down Australia to reach World Cup knockout rounds
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USA beat Australia 2-0 to reach World Cup knockouts
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Imperious Dupont guides record-breaking Toulouse to Top 14 final
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Qatar-gifted Air Force One replacement unveiled
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Venezuelan opposition figure heads to US after transition talks
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Niemann fires 65 at US Open after upsetting two-shot penalty
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Canada star Kone to miss rest of World Cup after surgery: team
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Spain's Yamal says 'too soon' to play full match at World Cup
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Confident Fitzpatrick makes a run at another US Open title
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Neymar? He is working remotely at the World Cup, jokes Lula
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England captain Stokes strikes for Durham as Test recall looms
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Three-time Stanley Cup champion Toews retires
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Clark wants to win back fans as well as US Open title
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Japan wary of fired up and wounded Tunisia for World Cup landmark game
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Clark leads as fellow major winners charge at US Open
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'Like a fridge': France cave homes offer lucky few respite from heat
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Ton-up Nicholls turns the screw for New Zealand against England
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Hormuz ship traffic climbs after war deal: trackers
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Sun shines on jockey Lee at Royal Ascot
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Kane hails World Cup 'Wonderwall' singalong as England highlight
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Oil edges back up, shares steady after US-Iran talks postponed
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Sabalenka roars back to make Berlin WTA semis
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Europe swelters as more heat records set to tumble
Last news
Bernadette Chirac, France's dedicated and discreet first lady
Bernadette Chirac, who has died aged 93, stood by her late husband and French president Jacques Chirac through thick and thin during 12 years as first lady, but also forged her own, more discreet, political career.
Late French president Chirac's widow dies aged 93: daughter
Bernadette Chirac, widow of former French president Jacques Chirac and known as the discreet companion of one of France's key postwar politicians, died at the age of 93, their daughter told AFP Saturday.
Pope says Church abuse 'still an open wound' as Spain trip begins
Pope Leo XIV on Saturday said sexual abuse within the Catholic Church remained "an open wound" as he began a trip to Spain that will include a meeting with victims.
Rahul, Sudharsan push India to 209-2 in Afghanistan Test
Opener KL Rahul and Sai Sudharsan hit half-centuries as India reached 209-2 at tea on the first day of the one-off cricket Test against Afghanistan on Saturday.
Crusaders and Chiefs win ahead of all-New Zealand Super Rugby semi-finals
The Waikato Chiefs and Canterbury Crusaders powered to handsome Super Rugby play-off wins on Saturday to ensure four New Zealand teams will contest the semi-finals.
Bitcoin and the Daily Illusion of Selling Investors a Bag of Air
In early June 2026 the world’s largest cryptocurrency suffered a dramatic sell‑off. Bitcoin plunged from roughly $71,000 to an intra‑week low near $60,028. This 17 % decline marked the lowest level since February and meant the price had dropped about a quarter since the beginning of the month. News agency Reuters reported on 3 June that Bitcoin had fallen to $64,721.39, its weakest level since 28 February.The sudden drop unsettled investors and triggered debates about whether Bitcoin – often touted as “digital gold” – is really nothing more than a speculative bubble. The following analysis explains the key drivers behind the decline and asks how long investors can still be sold an stupid empty bag of hot air.Reasons for the DropRecord ETF Outflows and Corporate SellingOne major reason for the downturn was persistent outflows from U.S. spot Bitcoin exchange‑traded funds (ETFs). Data from Farside Investors showed that in the 13 trading days through 4 June, funds shed about $4.33 billion – roughly 60,000 BTC. On a 20‑day rolling basis the outflows rose to $5.42 billion (about 73,000 BTC), the largest disposition ever recorded. Such redemptions signal that institutional investors are cutting exposure, removing a significant support for the price.Sentiment was further dented by a sale from corporate Bitcoin cheerleader Strategy. The software company sold 32 BTC between 26 May and 31 May, raising about $2.5 million. Although tiny relative to its huge treasury, the transaction broke Strategy’s long‑standing “never sell” narrative and raised fears that large holders might become forced sellers.Leveraged LiquidationsThe steep price move triggered a major deleveraging known as a “leverage flush.” Within a single day between $1.6 billion and $1.8 billion of crypto positions were liquidated, including $735–800 million tied to Bitcoin long positions. Over the full week, liquidations reached about $2.1 billion. Because most were bullish bets, forced selling accelerated the downward spiral.Macro Headwinds and Risk AversionThe sell‑off unfolded against a broader risk‑off mood in financial markets. U.S. stock indices like the Nasdaq slumped as investors rotated from high‑growth stocks into safer assets. Rising rate expectations and geopolitical tensions added uncertainty. Bitcoin fell below its 200‑day moving average, a technical break that signals weakening momentum. Crypto fear‑and‑greed gauges plunged into “extreme fear” territory (13 points), while futures open interest dropped almost 16 % to $45.38 billion.Media Narratives and Loss of any ConfidenceMedia commentary magnified the perception of a bubble. A Forbes report noted that Bitcoin was down roughly 5.5 % on the week and that Strategy’s sale shattered the “never sell” meme. Nic Puckrin of Coin Bureau warned that $2.8 billion of cumulative ETF outflows and the actions of major holders left Bitcoin in an extremely weak setup. Such narratives eroded confidence and prompted more selling.Is Bitcoin Just stupid Hot Air?Bitcoin is often marketed as a store of value akin to gold, yet unlike gold it generates no cash flows or dividends and relies purely on investors’ faith. The abrupt end of the rally therefore raises a fundamental question: how long can investors be sold an empty bag of hot air?Critics argue that the price is driven chiefly by FOMO (fear of missing out), scarcity and a compelling story. Once institutional inflows dry up and leveraged bets unwind, the price may collapse quickly. Proponents counter that the blockchain technology underpinning Bitcoin is revolutionary and that long‑term use cases could emerge. For now, however, the fundamentals look weak and investor sentiment is decisive.
Peru presidential candidate Sanchez could stand trial over campaign finance allegations
Peru's leftist presidential candidate Roberto Sanchez could stand trial over alleged campaign finance violations, a judge ruled Friday.
Crusaders beat Blues to book Super Rugby semi-final berth
Fullback Johnny McNicholl scored a hat-trick of tries as the Canterbury Crusaders beat the ill-disciplined Auckland Blues 52-31 on Saturday to book a place in the Super Rugby semi-finals.
India tightens security ahead of 'Cockroach Party' protest
Indian police tightened security in New Delhi on Saturday ahead of a protest by the satirical "Cockroach People's Party", over alleged irregularities in major examinations.
Picturesque Malta set to 'implode' as concrete jungle devours all
Farmer Annalisa Schembri is battling to save a wheat field from developers in Malta, where a construction boom is engulfing lands and villages, with even historic UNESCO sites in jeopardy.
Australian Rules bosses blast 'vile' racist abuse of player
Australian Rules bosses condemned racist and obscene social media messages targeting a Sudanese-born player as "vile" on Saturday, pledging to investigate them.
Wembanyama seeks clarity after heartbreaking Spurs loss
San Antonio star Victor Wembanyama could barely remember the details of the late-game miscues that cost the Spurs in their agonizing 105-104 loss to the New York Knicks in game two of the NBA Finals on Friday.
US, Iran trade strikes despite visas for World Cup footballers
New attacks in the Middle East on Friday threatened to unravel an already fragile US-Iran ceasefire, even as American officials confirmed that Tehran's football players had received visas for the World Cup.
Knicks hold off Spurs 105-104 for 2-0 NBA Finals lead
Jalen Brunson drilled the go-ahead free throw as the New York Knicks held off a furious San Antonio rally to beat the Spurs 105-104 on Friday and take a commanding 2-0 lead in the NBA Finals.
In New York, waiting in line becomes a social scene
In front of L'industrie Pizzeria, as at many other New York restaurants and shops, customers line up behind barriers -- in this case, all to grab a prized pizza slice.
Co-hosts Canada held by Ireland ahead of World Cup
World Cup co-hosts Canada were held to a frustrating 1-1 draw with Ireland on Friday despite dominating their final warm-up friendly before the tournament kicks off next week.
Pope visits polarised Spain with focus on migrants
Pope Leo XIV heads to Spain on Saturday for a visit focused on immigration and social justice at a politically turbulent time for Prime Minister Pedro Sanchez.
Airlines gather in Rio to chart course as horizon darkens
Airline executives descend on Rio this weekend to weigh the prospects for an industry grappling with geopolitical turbulence, soaring fuel costs and travellers wary of chasing sky-high ticket prices.
Brumbies coach apologises after 'embarrassing' Super Rugby rout
ACT Brumbies coach Stephen Larkham has apologised after their "embarrassing" Super Rugby playoff capitulation to the Wellington Hurricanes, admitting the team let down their fans.
Korda fights back at US Women's Open
World number one Nelly Korda roared back into contention at the US Women's Open, shooting a four-under par 67 in Friday's best round to sit just two strokes off the lead.
Libya presses on rebuilding flood-ravaged Derna but trauma lingers
Nearly three years after a catastrophic storm tore through eastern Libya's port city of Derna killing almost 4,000 people the city is getting back on its feet, but the trauma persists.
'It's clear who won!': Mexican zoo residents hedge World Cup bets
Two elephants trudged across a makeshift football field at Mexico's Guadalajara Zoo in a whacky attempt to predict the score of the 2026 World Cup's opening game.
Scaloni gives encouraging update on Messi fitness
Lionel Messi has taken a step forward in his injury recovery and could play a few minutes in Argentina's upcoming friendlies before their World Cup opener, coach Lionel Scaloni said Friday.
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New to The Street Broadcasts Tonight on Bloomberg Television Across the United States, Latin America, and MENA at 6:30 PM ET
Featured Interviews Include Envoy Medical (NASDAQ:COCH), Big Sky Industrial (NASDAQ:BSIN), Graphene Manufacturing Group (OTCQX:GMGMF), Gold Royalty Corp. (NYSE American:GROY), and New York City's Acclaimed BlackBarn Restaurant
New to The Street Signs One-Year National Media Series with Big Sky Industrial (NASDAQ:BSIN), Highlighting America's Emerging Helium and Carbon Infrastructure Opportunity
Watch Tonight: Ryan Smith, President and CEO of Big Sky Industrial, Appears in the Company's First Interview on Bloomberg Television at 6:30 PM ETNational Television, Digital Media, Billboard Advertising and Earned Media Campaign to Spotlight Company's Strategic Position in Critical Minerals and Carbon Management
FIFA to allow disposable water bottles at World Cup games after outcry
FIFA said Friday it will allow fans to bring one "soft, plastic" disposable water bottle into World Cup venues after its ban on refillable bottles sparked an outcry.
Poston fires 65 to seize one-stroke PGA Memorial lead
JT Poston birdied six of the first eight holes and made two clutch putts late to grab a one-stroke lead after Friday's second round of the PGA Tour Memorial tournament.
US warns Ebola outbreak on scale of largest 'is possible'
The US CDC on Friday urged strong public health interventions against the current Ebola outbreak, citing their models that show it could otherwise rival the scale of the 2014 West Africa outbreak.