The Nasdaq 100 climbed 1.5% Monday and the S&P 500 rose 0.7% as AI and semiconductor stocks recovered from Friday's selloff, which had handed the tech index its biggest weekly decline since April 2025. Bitcoin and Ether saw little of that lift. BTC was trading around $62,856 Tuesday, roughly in line with where it opened the week. Ether was at approximately $1,669.
Micron Technology (MU) rose 9.9% after falling 13.3% Friday, its worst single-session loss in the S&P 500 that day. Marvell Technology (MRVL) gained 9.6% following news it would join the S&P 500. Nvidia (NVDA) added 1.7% after CEO Jensen Huang, speaking at an event in Seoul, urged investors to treat the recent selloff as a buying opportunity. Apple (APPL) fell 1% despite unveiling an AI-upgraded Siri at its annual WWDC, a response analysts attributed to buy-the-rumor, sell-the-news dynamics.
Crypto's decoupling from the equity rebound extended a pattern from recent weeks. Bitcoin had fallen below $60,000 over the weekend before recovering, and remains significantly below highs set earlier this year.
Against that backdrop, Strategy (MSTR) disclosed in an SEC filing that it purchased 1,550 BTC for approximately $101 million between June 1 and June 7, bringing its total holdings to 845,256 BTC. The purchase was partly funded by the sale of 1.4 million shares of Class A common stock, generating $181 million in net proceeds. The company also raised its USD Reserve from $900 million to $1 billion. The buy follows last week's disposal of 32 BTC, which Strategy said was intended to help fund preferred stock distributions.
Bitmine's (BMNR) press release disclosed 126,971 ETH acquired over the past week at an average of approximately $1,630 per token, bringing total holdings to 5.54 million ETH – 4.59% of Ethereum's circulating supply. Chairman Tom Lee said the company increased its buying as it believes the pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals. The company holds 4.72 million of those tokens in staking, roughly 85% of its total ETH position. Including $247 million in cash, Bitmine reported total crypto and cash holdings of $9.6 billion.
Both companies have maintained their accumulation approach through this year's price weakness. Bitmine's latest tranche was acquired below current ETH prices. Strategy paid roughly $65,200/BTC on average, about 3% above where Bitcoin is currently trading.
