Nasdaq 100 Reaches All-Time High as Bitcoin and Gold Face Pressure

Bitcoin is consolidating in the range of $102,000 to $108,000. Gold has decreased by 2% today and approximately 7% from its record high. The Nasdaq 100 has achieved new all-time highs.

Recent U.S. macroeconomic data may have contributed to negative sentiment for BTC and gold:

Personal income in May fell by 0.4%, below the expected 0.3% increase
Personal spending month over month was -0.1%, missing the forecast of a 0.1% increase
The core PCE price index rose by 0.2% in May, exceeding expectations of 0.1%
Year-over-year core PCE prices increased by 2.7%, compared to the expected 2.6%

This data suggests a potential shift towards stagflation. Peter Schiff noted that traders are selling gold despite weak economic data and stronger inflation, indicating a bullish outlook for gold amid stagflation and a declining dollar.