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Artificial Superintelligence Alliance [FET] plunges 18% in a day: What’s next?

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Artificial Superintelligence Alliance [FET] plunges 18% in a day: What's next?


The Artificial Superintelligence Alliance [FET] token price rallied 50.94% from the 23rd of May to the 1st of June. This move spanned from $0.1914 to $0.2889, just below the $0.30 psychological round-number resistance.

AMBCrypto reported that this resistance level could be challenging to overcome. The recent rejection showed that sellers remained in control of this supply zone.

Though Binance traders had been bullish going into this supply zone, they have been headed. The question remains—was this a temporary reset, or should you anticipate a deeper bearish trend?

FET remains locked in a higher timeframe downtrend

FET 1-day Chart
Source: FET/USDT on TradingView

The higher timeframe price chart quite cleanly answered the question about FET’s ongoing trend. Despite the rally in recent months, the swing structure remained bearish.

The selloff in early 2026 saw Artificial Superintelligence Alliance token prices post a new swing low at $0.134. Like Bitcoin’s [BTC] relief rally to $82k, FET also witnessed a relief rally to the 78.6% retracement level.

The subsequent rejection has forced the price back to the $0.195-$0.20 support zone that has been respected since April.

FET is down by nearly 18% in 24 hours. Yet, though the momentum appeared firmly bearish in the short term, swing traders should watch out for a relief bounce.

Traders’ call to action: Sell the bounce

FET 4-hour ChartFET 4-hour Chart
Source: FET/USDT on TradingView

The internal structure has shifted bearishly on the 4-hour chart when the altcoin crashed below the higher low at $0.2166 (orange). The technical indicators also agreed with overwhelming bearish strength in the short term.

On this timeframe, the A/D was rapidly declining, and the Awesome Oscillator fell to depths not seen since the October 2025 crash. And the impulse leg was not yet over.

Eventually, the sell-off would be oversold and necessitate a relief rally. This bounce is likely to reach the $0.25-$0.26 area, though the exact levels are not clear yet.

Traders can wait for a bounce toward $0.25 before looking to sell FET. Trying to buy during the bounce could be risky since a Bitcoin drop below $60k can set off another immense wave of panic across the altcoin markets.

Final Summary

  • FET bulls drove a rally nearly as high as $0.3 but were rebuffed from this technical and psychological resistance.
  • A short-term bounce toward $0.25-$0.26 could offer a selling opportunity.



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Crypto’s worst week since July 2024 deepens as BTC, ETH prices near critical support levels

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Crypto's worst week since July 2024 deepens as BTC, ETH prices near critical support levels

The crypto market is teetering on the brink of a major breakdown in price after suffering one of its worst weeks since July 2024.

Bitcoin BTC$61,875.23, currently trading around $62,500 has lost more 14.5% since midnight UTC on Monday morning, while ether (ETH) has plunged by more than 17%, dropping 5.5% on Friday alone.

Ether, the second-largest cryptocurrency, is now at its lowest level since April 2025, when it bounced at $1,420 before rallying to record highs over the subsequent four months. A break below that level would bring it toward 2022 bear-market levels, when it dipped below $900.

The broader altcoin market also suffered deep losses this week. One of the worst performers on Friday was zcash (ZEC), which tumbled by more than 30% after a security researcher found an exploit that would have minted “unlimited” tokens in its shielded pool.

There are multiple catalysts causing this week’s slide. Strategy (MSTR) Executive Chairman Michael Saylor attributed it to capital rotation in light of a series of artificial intelligence IPOs in the U.S., while onchain analysts are pointing towards a lack of spot crypto volume.

CryptoQuant notes that spot trading volume fell to $679 billion in April, the lowest monthly level since October 2023, indicating a lack of demand.

Derivatives positioning

  • BTC derivatives positioning has flipped from mild improvement to clear deleveraging this week. Open interest dropped 15% to $17 billion, with funding rates flipping negative to flat across multiple venues
  • At Deribit, the rate dropped to -15% annualized, a notable reversal from the prior positive regime. The three-month annualized basis fell to 2.7% from 2.9% last week, confirming a pullback in institutional risk appetite.
  • Options positioning has turned clearly defensive: Put/call volume has flipped to a 50/50 split over the past 24 hours, losing the prior call tilt, while the one-week 25-delta skew more than doubled to 27% from 13% a week ago. That signals a sharp escalation in demand for downside protection.
  • Front-end implied volatility (DVOL) has climbed further to 47, confirming a sustained bid that aligns with the broader deleveraging in derivatives.
  • Coinglass data shows $1.2 billion in 24-hour liquidations, with a 76-24 split between longs and shorts. Bitcoin ($364 million), ether ($291 million) and zcash ($107 million) were the leaders in terms of notional liquidations.
  • The Binance liquidation heatmap indicates $60,900 as a core BTC liquidation level to monitor, in case of a price drop.

Token talk

  • Zcash’s (ZEC) plight on Friday sowed seeds of doubt across privacy coins, with monero (XMR) losing 12% since midnight UTC and dash (DASH) dropping 9%.
  • ZEC’s losses were compounded by BitMEX founder Arthur Hayes, who said on X that his firm had sold its entire allocation of the token.
  • There were also heavy losses for ADA$0.1613, which tumbled by more than 10% after the project’s founder, Charles Hoskinson, said that he was “taking a break” after warning of ecosystem failures.
  • AI tokens lost their early week momentum as FET, NEAR and TAO fell 4%-6% despite outperforming the rest of the market on Monday.
  • One reason for altcoin holders to be hopeful is the fact that the average relative strength index (RSI) across all crypto pairs is in “oversold” territory, suggesting that a relief bounce could be on the cards this weekend.



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Delfin Approves $5 Billion FID for First U.S. Floating LNG Export Vessel

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Delfin Approves $5 Billion FID for First U.S. Floating LNG Export Vessel


Delfin Midstream has sanctioned the first phase of its Louisiana-based LNG export project, taking a final investment decision (FID) on a $5 billion floating liquefied natural gas (FLNG) vessel that the company says will be both the first floating LNG export facility in the United States and the largest FLNG project globally by liquefaction capacity.

The first vessel, Delfin FLNG 1, is expected to export up to 4.4 million metric tons of LNG annually and is scheduled to begin production in 2030. The project represents a major milestone for the Houston-based developer, which has spent years advancing an offshore LNG export concept designed to leverage existing pipeline infrastructure and floating liquefaction technology.

The FID was accompanied by a new round of investment led by Global Infrastructure Partners, part of BlackRock, alongside existing investors Mitsui O.S.K. Lines, Vitol, and Diameter Capital Partners. Financial terms of the equity commitments were not disclosed.

Delfin CEO Dudley Poston described the decision as a significant step for both the company and global energy markets, emphasizing the project’s role in expanding U.S. LNG export capacity and strengthening energy security.

The project enters construction with long-term LNG sales agreements already in place with several major buyers, including Vitol, Expand Energy, Centrica, and Gunvor. Delfin said it has secured all permits and licenses required to begin construction.

Samsung Heavy Industries and engineering firm Black & Veatch have been selected as key construction partners for the first FLNG vessel.

The investment comes as global LNG demand continues to grow, particularly across Asia and Europe, where buyers are seeking long-term supplies from politically stable producers. Floating LNG facilities have gained traction as a potentially lower-cost and faster-to-develop alternative to traditional onshore export terminals, although large-scale FLNG developments remain relatively rare globally.

Delfin’s broader project has already received authorization from the U.S. Department of Energy to export up to 13.2 million tonnes of LNG annually and holds a deepwater port license from the U.S. Maritime Administration. The company ultimately plans to deploy multiple FLNG vessels offshore Louisiana, with FIDs for vessels two and three targeted over the next year.

If completed as planned, Delfin LNG would establish a new model for U.S. LNG exports by moving liquefaction offshore while further expanding the country’s position as the world’s leading LNG supplier.



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Goldman CEO: Entry-Level Hiring May ‘Contract a Little’ With AI

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Goldman CEO: Entry-Level Hiring May 'Contract a Little' With AI


Goldman Sachs CEO David Solomon says the bank may bring in fewer fresh-faced employees over the next few years as AI reshapes their work.

But don’t call it a hiring apocalypse.

During an interview with Bloomberg’s “Odd Lots” podcast, released on Thursday, Solomon said Goldman’s out-of-school hiring could “contract a little” over the next three years. Still, he predicts the firm will continue to hire thousands of interns and recent graduates.

“You’re going to see nuanced changes that probably to some degree reduce the number of people that we start with over the next few years, but probably not what you and I would call dramatically,” he said. “We’re still going to hire a lot of people out of school.”

This year, Goldman is bringing on an estimated 2,400 to 2,500 interns, Solomon said. He added that the firm has a similar number of permanent new hires starting in July — roughly in line with pre-COVID levels, but below the more than 3,000 it was bringing in during 2021.

Asked how Goldman’s new-hire mix has changed since the pre-ChatGPT era, Solomon said the firm had seen “subtle, subtle changes.” He said the firm had shifted more heavily toward engineering talent over the past decade, and that the mix would likely shift again “given the power of these tools and our ability to code.”

The comments come as concerns about AI’s impact on jobs spark mixed responses across industries.

In Silicon Valley, top AI bosses, like Anthropic CEO Dario Amodei, have warned of potential wipe-outs for entry-level workers. Meanwhile, leaders in other industries think there’s more nuance to the existential warnings — Apollo’s chief economist Torsten Sløk wrote that there’s “zero evidence” that AI is driving layoffs, and Uber’s COO, Andrew Macdonald, said it’s getting harder to justify the amount of spending it takes to automate tasks with AI.

Solomon, who argued in a late-May New York Times op-ed that the AI jobs apocalypse is overblown, falls firmly in the latter camp.

The bigger challenge, Solomon said during the podcast, is figuring out how to train young workers when AI can instantly produce answers that once required hours of grunt work.

He recalled starting his banking career in an age without minute-by-minute digital trackers for stock prices. To compare stock performance, he said, he dug through microfiche, pulled prices from The Wall Street Journal, plotted them on graph paper, and did the math by hand.

It was slow, but it taught him useful critical thinking skills, he said.

“Now, if you ask for it, you get it instantaneously,” he said. “Has your brain really absorbed what’s actually happening?”

Operating in a world with answers at his entry-level intern’s fingertips means Goldman has to rethink skill training, Solomon said.

Still, his advice to young bankers in the AI age was decidedly old-school: pick up the phone and talk to people.

“A telephone call to someone is 10 times more valuable than a text or an email,” Solomon said. “My daughter says that’s an unverified statistic. I know that’s true.”

Goldman didn’t immediately respond to a request for comment from Business Insider.





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Dogecoin slides 5%, hits a 4-month low: Can dip buyers help DOGE recover?

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moneyvests
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Dogecoin slides 5%, hits a 4-month low: Can dip buyers help DOGE recover?


The broader crypto market extended its bearish streak. As a result, Dogecoin weakened further, breached the $0.09 support, and fell to $0.081. 

The memecoin last reached such low levels during the February market dip. At press time, Dogecoin traded at $0.085, down 5.3% on the daily charts, adding to its 12% weekly slip. 

The price slip triggered the massive liquidation of leveraged positions. Dogecoin [DOGE] saw a total of $6.4 million in positions liquidated, with $5.3 million in longs liquidated.

Dogecoin liquidation
Source: CoinGlass

The liquidation of leveraged longs to such levels causes exchanges to close positions and cut losses. As a result, the market sees additional selling pressure, causing further market slip. 

Dogecoin Futures panic close amid liquidation risk

Driven by a surge in liquidations, traders in the Futures market panicked and hurriedly closed their positions. 

According to CoinGlass data, Dogecoin saw $755 million in Futures Outflows while only $696 million in inflows. As a result, Futures Netflow dropped to -$58.9 million. 

Dogecoin futures inflowDogecoin futures inflow
Source: CoinGlass

A negative Futures Netflow suggests that sellers dominated the market, as they closed positions. The memecoin’s Open Interest fell to $1.02 billion, the lowest level since March, further confirming this shift in bearish sentiment.

Dogecoin open interestDogecoin open interest
Source: CoinGlass

Dip buyers jump on the Spot

Interestingly, while leverage got flushed and Futures panic exited, the market dip created a buying opportunity. As such, on the Spot market, buyers returned to accumulate at a discount. 

As a result, Spot Netflow extended its bullish outlook, holding negative for four consecutive days. At press time, Netflow was -$16.59 million, a slight drop from -$18.1 million the previous day. 

Dogecoin spot netflowDogecoin spot netflow
Source: CoinGlass

A Negative Netflow indicated that buyers dominated exchanges and continued to accumulate at lower price levels. Often, when Spot buyers jump in, they present the market with a fighting chance by absorbing pressure from Futures.

What’s next for the memecoin?

Dogecoin’s downward momentum intensified after leveraged longs were liquidated. Succeeding selling pressure caused further market weakness.

As a result, the memecoin’s Relative Strength Index (RSI) dropped into the oversold zone, touching a low of 24. RSI at these levels suggested that sellers have total control of the market.

Dogecoin RSIDogecoin RSI
Source: TradingView

As such, even dip buyers in the Spot market remain insufficient to absorb the prevailing market pressure. Under such conditions, DOGE is at risk of more losses.

If the prevailing sentiment persists, Dogecoin is likely to make more losses on its price charts and breach the $0.08 support level.

However, if Futures panic cools off amid the dip-buying witnessed, the market will cool down and revisit $0.094, then eye $0.1.

Final Summary

  • Dogecoin dropped 5%, hitting a four-month low of $0.081, amid intense bearish pressure. 
  • The Spot market saw renewed demand as dip buyers returned to accumulate at lower price levels, but the market remains overly bearish. 



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Here’s what could happen if bitcoin breaks below $60,000

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moneyvests
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Bitcoin (BTC) underperforms risk assets as record 9th day of ETF outflows signal waning demand: Crypto Daily

Bitcoin BTC$61,875.23 continues to lose ground and the price is fast closing on $60,000 amid record ETF outflows.

The $60,000 level has been widely cited by analysts as a major support, below which the selloff could get even uglier.

Jean-David Péquignot, the chief commercial officer at leading crypto options exchange Deribit said that price is critical not just because it’s a round-number psychological level. More importantly, it’s a structural threshold with real consequences for institutions and derivatives market participants.

The cost basis problem

According to Péquignot, a significant chunk of institutional money — comprising ETF buyers, large holders and short-term speculators — bought bitcoin at prices between $60,000 and $67,000 over the past year.

With the largest cryptocurrency now trading within that range, these buyers are sitting at or near their cost basis, essentially at break-even. If prices drop further, unrealized or paper losses will mount and holding becomes expensive, especially when AI stocks and other parts of the traditional market are rallying like there is no tomorrow.

“As price undercuts their cost basis, the resulting unrealized losses may incentivize rushed selling, especially as the opportunity cost of holding BTC rises against a surging AI equity sector,” he said.

Michael Saylor, the high-profile executive chairman of Strategy (MSTR), the largest publicly traded bitcoin holder, also blamed capital rotation for recent BTC losses.

The derivatives problem

Things become mechanical after that.

On Deribit, there is over $1.2 billion in notional open interest sitting at the $60,000 strike put options, which pay out if prices fall below that level. Investors have bought these as a hedge against a protracted selloff.

The problem, however, is that market makers, who are on the opposite side of the investors, are now short puts, or more precisely, “short gamma.”

So, as BTC nears $60,000, market makers and dealers will be forced to sell spot BTC or futures to balance their books. Other things being equal, this hedging can accelerate the selloff, turning an orderly decline into a chaotic one, Péquignot said.

He also pointed out that there are too many leveraged longs in the system, and a break below $60,000 could lead to more liquidations, adding to downside momentum.

“With leverage still not fully flushed from the system, a break of $60K could rapidly worsen collateral metrics, triggering a cascading wave of automated long liquidations,” he said.

Note that billions of dollars of leveraged longs, or bullish plays tied to BTC and other tokens, have already been liquidated this week.



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PE stocks tumble on Partners Group redemption news

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PE stocks tumble on Partners Group redemption news


News that Partners Group is limiting redemptions on an $8.6 billion evergreen private equity fund sent share prices tumbling Wednesday amid fears that the problems plaguing private credit could be spreading to other asset classes.

The Swiss investment manager said it was limiting the amount investors could redeem from Partners Group Global Value SICAV to 5% of the fund’s net asset value, after receiving requests exceeding that limit during Q2. The fund is one of the oldest PE vehicles targeted at wealthy individual investors.

The firm said in a statement that it sees redemption limits as “indispensable” to meeting the needs of those seeking liquidity while “preserving investment capital for long-term investors who want to capitalize on market opportunities.”

Investors who have submitted a redemption request will receive approximately 62% of what they requested. The unpaid portion will be canceled and not carried forward into the next liquidity window.

Partners Group’s share price dropped 16.3% by the end of trading on Wednesday. Other large European PE firms, such as EQT, CVC Capital Partners and Bridgepoint Group, also experienced appreciable declines.

The firm has also been facing growing competition from newer evergreen offerings managed by US rivals such as Blackstone and KRR, the Financial Times reported in January. The firm’s flagship US offering lost more in redemptions than it received in new money for the first time in 2025.

Evergreen PE funds could be set to experience the same mass outflows experienced by credit vehicles aimed at the same constituency of wealthy individual investors.

Though much smaller and newer than business development companies, which have borne the brunt of the trouble facing the private credit market, evergreen PE vehicles posted record inflows last year and are forecast to top $1 trillion of total NAV by the end of the decade.

PE vehicles are, in some ways, more exposed to corporate distress than BDCs, which mainly make senior-secured loans to private businesses. Equity holders are last in line to recover their money in the event of bankruptcies, which have been ticking up since interest rates rose in 2022. This has been compounded by recent shocks, such as investor panic over the potential impact of AI on the business models of SaaS companies.

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In Q1, investors requested to pull roughly $13.2 billion from US nontraded BDCs, which extend loans to privately owned businesses, according to investment bank Robert A. Stanger & Co.

Sponsors agreed to meet about half of this demand.

Partners Group cited “significant macroeconomic shifts and geopolitical challenges” as key reasons for the outflows that hit private credit vehicles and are now spreading to PE.

The firm said the fund has around 15% of its NAV in liquid assets, roughly in line with the distributions it paid out last year and what it expects to pay out this year. It also has access to an undrawn credit facility of roughly the same size, an estimated $1.3 billion.

Partners Group Global Value SICAV primarily invests directly in private companies, makes primary fund commitments in PE funds and buys positions on the secondary market. The vehicle also holds some credit and liquid assets to meet redemptions.

This article originally appeared on PitchBook News



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