Share this article
Nasdaq Hits Record While Bitcoin, Gold Remain Under Pressure After Latest Macro Data
Though old news, U.S. inflation numbers from May were disappointing.
Updated Jun 27, 2025, 7:21 p.m. Published Jun 27, 2025, 3:30 p.m.
What to know:
- U.S. Core PCE inflation rose 0.2% in May versus 0.1% expected.
- In morning U.S. trade, the Nasdaq 100 has hit a new record, while gold remains 2% lower on the day and 7% below its all-time high; bitcoin is down modestly to $106,700.
Bitcoin continues to consolidate in the $102,000 to $108,000 range and gold is lower by 2% today and roughly 7% from its record high. Meanwhile, the Nasdaq 100 has reached new all-time highs.
A couple of U.S. macroeconomic data points Friday morning — though nearly two months old at this point — might have added to the modestly negative tone for BTC and gold. Personal income in May came in at -0.4%, falling short of the expected increase of 0.3%. Personal spending month over month printed at -0.1%, missing the forecast of a 0.1% increase.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Maybe of more import to markets, the core PCE price index in the US, which excludes volatile food and energy prices and is the Federal Reserve's chosen gauge of underlying inflation, rose by 0.2% in May compared to expectations of a 0.1% increase. On a year-over-year basis, core PCE prices rose 2.7% versus 2.6% expected.
This data further supports the view that the economy may be heading toward stagflation. Noted goldbug and no-coiner Peter Schiff: "Traders continue to sell gold even as this morning's release of weak economic data and stronger-than-expected inflation data pushed the dollar index to new lows. Stagflation and a tanking dollar are bullish for gold, regardless of any superficial trade deals 'negotiated' by Trump."
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Farcaster Switches to Wallet-First Strategy to Grow Its Social App
The protocol still consists of casts, follows, reactions, identities and wallets, and third-party clients are free to emphasize whichever components they want.
What to know:
- Farcaster is shifting its focus from social media to its in-app wallet and trading features to drive user engagement.
- Cofounder Dan Romero acknowledged the lack of sustainable growth in their social-first strategy over the past 4.5 years.
- The wallet's trading tools have shown the strongest product-market fit, leading to a strategic pivot towards financial use cases.
Top Stories
