Advance Auto Parts is closing over 700 stores across the U.S., including 523 corporate stores and 204 independent locations, as part of a strategic plan to improve business performance amid an uncertain macroeconomic climate. The company has also lowered its full-year outlook for the second consecutive quarter. This move is part of a broader trend in the retail sector, which has seen a significant increase in store closures this year due to economic pressures and changing consumer behavior.
Bitcoin's price action continues to deliver on bulls' expectations after weeks of sideways trading, with $30,000 held into the weekly close and beyond. The macroeconomic climate is somewhat "standard" for the final week of June, offering some potential risk asset price catalysts but avoiding several major data releases at once. Bitcoin network fundamentals are cooling their own gains, with mining difficulty due to decrease at its upcoming readjustment on June 29. Meanwhile, Bitcoin is at the dawn of a "new speculation cycle," according to popular analyst Philip Swift, and crypto market sentiment appears to care significantly about the fate of the $30,000 price level.
