Today is Wednesday, June 3, 2026.
The Early Bird Index today is 92.03.
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Bitcoin's Perfect Storm 📉
A series of bad events has caused Bitcoin $BTC ( ▼ 3.51% ) to fall 6% under $67,000 in value on Tuesday, losing all the gains the most popular cryptocurrency has made since March.
Details: Bitcoin is now down 23% this year. The price recovered in the spring as macroeconomic conditions improved, but it gradually lost momentum. In the past week, it has been down about 10%.
Powering the Story: Multiple factors have created pressure on Bitcoin. It is getting hit by a risk-off move: heavy long liquidations, fresh ETF outflows, and renewed geopolitical stress are all pressuring buyers at the same time.
If things don’t get better soon, it could be a very cruel Bitcoin summer.
Early Bird’s Nest Egg Gains: Investors should be moderately worried, not panicked. The current move is not a structural break in Bitcoin’s long-term story, but the near-term setup still allows for more downside.
If you’re a long-term holder, this is more of a stress test than a thesis killer.
Final Thoughts: And it’s not just Bitcoin that fell on Tuesday. Most major crypto prices are down by similar amounts in early June.
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Notables
Notable Earnings Today: Broadcom (Nasdaq: AVGO), CrowdStrike (Nasdaq: CRWD), Medtronic (NYSE: MDT), Macy's (NYSE: M), PVH (NYSE: PVH), Five Below (Nasdaq: FIVE), C3.ai (NYSE: AI), Veeva Systems (NYSE: VEEV), Ollie’s Bargain Outlet (Nasdaq: OLLI), Petco Health and Wellness (Nasdaq: WOOF), MiniMed (Nasdaq: MMED), Descartes (Nasdaq: DSGX), Sprinklr (NYSE: CXM), Netskope (Nasdaq: NTSK), ChargePoint Holdings (NYSE: CHPT), Cognyte Software (Nasdaq: CGNT), Thor Industries (NYSE: THO), VersaBank (Nasdaq: VBNK).
Notable IPOs Today: Applied Aerospace & Defense, Inc. (NYSE: ADDX).
Notable Equity Crowdfunding Campaigns Ending Today: Hero Corp (Wefunder).
Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing Prices / PMI / Employment (10:00 a.m. ET), Factory Orders (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Fed Beige Book (2:00 p.m. ET).
Palo Alto Traders Sell Profits
Despite posting good financial earnings on Tuesday, Palo Alto Networks $PANW ( ▼ 1.1% ) fell 3.17% in after-hours trading.
Financials: Palo Alto Networks reported earnings of 85 cents per share in the past quarter and revenue of $3 billion. Both were better than expected.
Final Thoughts: Palo Alto Networks was already up 65% in 2026, so investors likely wanted to sell their profits.
Ulta Beauty’s Good Results
Ulta Beauty $ULTA ( ▼ 1.18% ) jumped 1.14% in after-hours trading on Tuesday after the chain of cosmetic stores posted good financial earnings results.
Financials: Ulta Beauty reported earnings of $7.74 per share in the past quarter and revenue of $3.16 billion. Both were better than expected.
Final Thoughts: The results were a relief for investors of Ulta Beauty. The stock was down 20% this year.
Trends to Watch
Liftoff: This space stock is rising as Blue Origin predicts quick recovery from big explosion (MarketWatch)
Massive IPO: SpaceX targets $1.75 trillion valuation in all-primary IPO next week, sources say (Reuters)
Greedy Times: Goldman Sachs CEO David Solomon says markets are in ‘greed’ mode as AI companies seek billions (CNBC)
Chip Upgrade: Microsoft says new quantum chip 1,000 times more reliable than predecessor (BBC)
Supportive and Uplifting: Bra Sales Power Victoria’s Secret Turnaround and Shares Soar (Wall Street Journal)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.
