Spot silver falls below $60 mark
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Spot gold falls below $4,100.
PANews reported on July 8 that, according to Bybit, spot gold has fallen below the $4,100/ounce mark, currently trading at $4,099.78, a daily decrease of 0.14%.
BTC fell below $62,000, down 3.04% on the day.
PANews reported on July 8 that, according to OKX market data, BTC has just fallen below $62,000 and is currently trading at $61,999.90 per coin, down 3.04% on the day.
Bitcoin ETFs add $347M as BTC falls below $84K after topping $87K
US spot Bitcoin ETF inflows slowed to $347 million on Wednesday as Bitcoin fell below $84,000, while five-day inflows reached $2.65 billion.
Bernstein: The storage bull market could continue into 2027, but the steepest part of the rise has passed.
According to Mars Finance, on July 8th, Wall Street investment bank Bernstein released its monthly global memory tracking report, stating that DRAM contract prices continued to rise month-on-month in June, implying that the average price of traditional DRAM in Q2 2026 will increase by approximately 74% compared to Q1. Demand from servers and mobile devices remains the main driver, with Server DRAM prices expected to rise by approximately 60% to 67% in Q2, and Mobile DRAM by nearly 80%. The spot market also shows tight supply. PC DRAM spot prices rose 5.6% to 11.5% month-on-month in June, while Server DRAM rose 6.1% to 26.4%. The report stated that Server DDR5 performed particularly strongly, with spot prices significantly higher than contract prices, indicating that demand from AI and cloud service providers is still absorbing the new capacity shifted by suppliers to the server market. However, Bernstein also cautioned that the rate of price increases will slow significantly in Q3. TrendForce predicts that traditional DRAM price increases will slow to 13% to 18% in the third quarter, down from the steep increases in the second quarter. PC, mobile phone, and consumer electronics customers are reducing configurations or adjusting purchasing paces; while demand disruption is not yet fully apparent, the report believes it will eventually occur. The situation for NAND is more divergent. In June, NAND wafer spot prices actually fell by 3% to 4%, while wafer contract prices rose only slightly by 0.3% to 3.7%. However, strong price increases in mobile NAND and SSDs will still drive overall NAND contract prices up by about 60% in the second quarter. Bernstein stated that SSD and mobile storage price increases could reach 70% to 80%, offsetting the weakness on the wafer side. The key variable in this storage cycle remains AI. Cloud service providers and server customers continue to prioritize securing supply; some US CSPs have completed long-term agreement negotiations, while Chinese CSPs are still negotiating. Long-term agreements help smooth future price declines but may also limit the room for some suppliers to continue raising prices. In its investment conclusions, Bernstein maintains positive ratings for Samsung, SK Hynix, Micron, and SanDisk, while remaining cautious on Kioxia. The report believes that storage prices may remain strong until 2027, but will gradually normalize from the second half of 2027 to 2028 as long-term agreements take effect and new capacity comes online.
Following the "end" of the US-Iran ceasefire, cryptocurrency and stock markets experienced widespread declines.
PANews reported on July 8th that, according to CoinDesk, the US launched airstrikes against Iranian Islamic Revolutionary Guard Corps ships, and Iran subsequently attacked Kuwait and Bahrain. US President Trump announced the "end" of the ceasefire with Iran, calling the negotiations "meaningless," causing a sharp drop in global risk appetite. Bitcoin and Ethereum fell by more than 2%, the CoinDesk 20 index fell by nearly 3%, and Nasdaq 100 and S&P 500 futures fell by about 1.5% at one point. In the crypto derivatives market, BTC futures open interest declined slightly, while ETH triggered approximately $90 million in long position liquidations during the price drop. Overall, the 24-hour crypto market saw approximately $450 million in liquidations, of which approximately $350 million came from Altcoin trading pairs. Altcoins generally fell, and Solana erased all gains since July.
South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)