Bitcoin ETF Trading Frenzy Continues After Record $673M Net Inflow as BTC Price Nears Record

Amid concerns over AI capital expenditures, funds are seeking a "certainty premium." State Street Healthcare ETF reached a record high. Eli Lilly and AbbVie are both approaching their historical highest closing prices, while Gilead and Amgen have surged 7.7% and 7.2% respectively over the past five days. Eli Lilly continues to bet on the future through its GLP-1 dominance and 40 M&A deals totaling $20 billion. AbbVie's core drug Skyrizi has shown positive data for its new subcutaneous formulation, which is expected to extend its patent and drive additional sales.

San Francisco Fed President Daly stated that the traditional "wait and see" approach to supply-side shocks has been abandoned, noting that businesses in her district are tending to pass rising costs on to consumers and that current inflation risks are "skewed fully to the upside." Cleveland Fed President Hammack said that once the public forms an "inflationary mindset," the difficulty of monetary policy regulation will increase significantly, and the required interest rate hikes will then exceed expectations.

Deutsche Bank believes that the recent sell-off of CoreWeave lacks sufficient company fundamentals to justify it, and the sharp price correction has instead created a buying opportunity for investors.