According to BlockBeats, on June 27th, data from Farside Investors showed that US Bitcoin spot ETFs experienced a total net outflow of $1.7873 billion this week. Specifically, BlackRock's IBIT saw a net outflow of $1.3035 billion, Fidelity's FBTC a net outflow of $314.9 million, and Grayscale's GBTC a net outflow of $135.3 million.

During the same period, some ETFs recorded net inflows, with BTC seeing a net inflow of $71.7 million and MSBT seeing a net inflow of $26.2 million.

BlockBeats reported on June 27th that Coinbase CEO Brian Armstrong stated that the key to maintaining stable AI spending while token usage grows exponentially lies not in setting usage friction or spending alerts, but in better default models, routing, and caching mechanisms. Coinbase is experimenting with defaulting to open-weight models such as GLM 5.2 and Kimi 2.7 through its LLM gateway, while still encouraging engineers to choose the appropriate model based on the task. He stated that 91% of employees never reach their usage limits, so the company did not choose to lower limits and increase alerts, but instead switched to a lower-cost default model.

Regarding model routing, Coinbase preprocesses prompts in its custom workflows and routes tasks to the most suitable model based on cache hit rate and model pricing. For example, a cutting-edge model might be needed during the planning phase, but using it during the execution phase could be overkill. Coinbase believes that in the future, models should not be selected by humans; AI can automate this task.

Armstrong also stated that cache misses are the easiest way to drive up costs. Coinbase's requests are all cache-aware to reuse hot caches as much as possible. For example, after correctly implementing caching, LibreChat's cache hit rate has increased from 5% to 60%. Furthermore, Coinbase requires engineers to keep contexts concise, including opening new sessions when switching tasks, narrowing file context scope, and disconnecting unused tools. The goal is not to suppress AI usage, but to build infrastructure that can support exponential growth. Through these practices, Coinbase has reduced AI spending by nearly half, while token usage continues to grow.

BlockBeats reported on June 27th, citing CNBC, that billionaire investor and GMO co-founder Jeremy Grantham again criticized Bitcoin, calling it a "useless speculative" asset with no intrinsic value and predicting it will gradually become irrelevant over the next few years and even decades. Grantham stated, "It will gradually die out, not crash and burn, but disappear silently." He argued that Bitcoin is not a stable form of value, having halved in value without a clear reason even in a strong economic environment, and therefore cannot be relied upon as a store of value.

Grantham also stated that gold, even after retreating from its highs, still recorded steady gains during the same period. He believes that Bitcoin has neither proven itself to be a useful speculative asset nor provided real-world utility. He claims that people don't use Bitcoin for serious transactions, nor do they use it to pay for dinner or supermarket shopping; "its role is to allow criminals to transfer funds."

Bitcoin is historically known for its sharp bear market pullbacks, with each cycle seeing a drop of at least 70% from its high. Currently, Bitcoin is down about 52% from its October high, hovering around $60,000, and many investors believe the current price slump may continue for several months.