Crypto and its neighboring markets spent the week separating conviction from hype. Bitcoin (BTC) shook off sell-off fears and pushed its long-term floor higher, even as a $500 million AI bill and a 50% stock crash showed how fast unbacked bets unravel.
That split ran through the week’s biggest names. SpaceX banked a $2.29 billion defense win, and Bitcoin holders bought weakness, while a runaway AI tab and a Las Vegas sports flop supplied the cautionary half.
Bitcoin trades near $73,600 after a week that tested nerves more than support. MicroStrategy, the largest corporate holder, withdrew 411.5 BTC worth about $30 million from Coinbase Prime hours after depositing it.
Did Michael Saylor's @Strategy cancel its $BTC sale?
The deposit was its first direct exchange move in nearly two years. The round trip eased fears that Michael Saylor was lining up a sale. Prediction-market odds of a 2026 sale eased but stayed high.
The firm still holds 843,738 BTC and has bought none since May 18. Tom Lee’s BitMine bought the weakness too, adding 25,000 ether (ETH) for $50.6 million.
Bitcoin’s 200-Week Floor Climbs Past $61,000
The structural picture looks steadier than the price. Bitcoin’s 200-week moving average has climbed past $61,000, up from $60,000 in early May.
Blockstream CEO Adam Back flagged the move on May 30 as a long-term bull signal. The average smooths nearly four years of weekly closes and has marked every prior cycle bottom.
Only the 2022 bear market saw a weekly close below it. With BTC near $73,600, the spot price sits roughly $12,600 above that rising floor. Back paired the chart with a discipline argument borrowed from the late Charlie Munger.
The fallout from the week’s biggest AI bill is still spreading. An unnamed enterprise client ran up a $500 million charge on Anthropic’s Claude AI in a single month, Axios reported.
The cause was simple. Nobody set usage limits or spending caps for thousands of employees. Microsoft later trimmed internal Claude Code licenses after per-engineer costs hit $500 to $2,000 a month.
Uber reportedly exhausted its 2026 AI budget by April. Amazon even shut an internal AI leaderboard after staff gamed it with low-value prompts. The blowup is accelerating enterprise AI discipline across the sector.
An AI consultant dropped the most expensive oopsie of all time:
A client accidentally spent $500,000,000 in one month on Claude after forgetting to set usage limits for employees.
Half a billion dollars gone because nobody put a cap on the AI tab.
Defense and space names ended the week higher on a single award. SpaceX secured a $2.29 billion US Space Force contract to build the Space Data Network Backbone.
The system will move secure military data over low-orbit satellites, with a prototype due by the end of 2027. It feeds the Pentagon’s wider Golden Dome plan and deepens Elon Musk’s role in national security. Rocket Lab (RKLB) climbed about 13% on the week.
The deal also sharpens the SpaceX IPO speculation that crypto prediction markets keep pricing.
The US Space Force awarded 12 companies contracts worth up to $3.2B to develop prototypes for space-based interceptors under President Trump’s Golden Dome plan via Bloomberg
Thiel-Backed Enhanced Games Stock Halves After Vegas Flop
Enhanced Group (ENHA) closed the week as the market’s clearest hype check. The Peter Thiel-backed stock fell about 50% on Tuesday.
A six-hour Las Vegas debut produced just one unofficial world record. The May 24 event paid a $25 million purse, and the company’s own data showed 91% of athletes used testosterone.
Enhanced Games (ENHA) Stock Performance. Source: TradingView
Swimmer Kristian Gkolomeev set the lone record, while clean athletes won three events outright. The slide wiped close to $800 million from a firm that went public this month at a $1.2 billion valuation. The setup echoed another venture-backed spectacle in which a human intern recently outpacked a humanoid robot.
