Bitcoin Cooling and Tech Overstretch: Market Setup for June

As we close out a historic May, the tech-fueled rally is showing signs of maturity. While robust capital expenditure on AI infrastructure has kept equity markets highly resilient, analysts are beginning to flag summer volatility risks and potential profit-taking [1]. This caution is mirrored in the macroeconomic data. The latest US GDP print grew at a revised 1.6% annualized rate for Q1, missing the 2.0% forecast, while Core PCE inflation matched expectations at 3.3% YoY. However, a massive 7.9% surge in durable goods orders highlights that economic activity, particularly in manufacturing, is far from stalling.