Alternative Investing Report - June 22, 2026

*as of 6/21, Sources: S&P, BTC, FTSE, DJRE, GOLD

According to Realtor.com’s rental report, national median asking rents fell by 1.5% year-over-year last month, which is the 34th consecutive month of annual declines. The markets with the biggest declines were Nashville, Memphis, and Tampa, while the biggest annual gains went to Pittsburgh, Kansas City, and New York. Meanwhile Zillow’s rental report showed the typical U.S. rent rose by 2% year-over-year, with San Francisco, Virginia Beach, and San Jose leading the way and Austin, San Antonio, and Denver bringing up the rear.

➨ TAKEAWAY: The slowdown in the U.S. rental market is a result of the multifamily construction boom that peaked in 2024 and has led to a rise in supply, particularly in Sun Belt markets. The construction pipeline has slowed significantly, so the long-term outlook for investors is positive, particularly in markets that have already started to turn around.

🪙 Bitcoin below its mining cost: JPMorgan has estimated that the average cost to mine a single bitcoin is now $78,000, well above its current price of $64,000. Approximately 20% of Bitcoin miners are now unprofitable, and miners have sold more Bitcoin so far in 2026 than they did in all of 2025, putting additional sell pressure on the market and keeping prices down.

🏢 CRE deal value growing: The total transaction value for U.S. commercial real estate rose significantly in Q1, with strong year-over-year increases in every major sector. Office deal volume grew by 44.4%, retail by 29.8%, industrial by 16.8%, and multifamily by 7.4%, driven by large increases across sectors in major metro areas like New York, Los Angeles, and Dallas.

⚾ Mantle card sales: Three major Mickey Mantle cards sold at Goldin auctions over the weekend, led by a 1952 Topps PSA 8 that fetched $1.83 million, the highest for a card of that grade since the value of sports cards peaked in 2021. A 1952 Topps SGC 7 set a new record for a card of that grade at $579,500, and a 1951 Bowman PSA 8 sold for $573,400, the highest since 2021. These auctions are all strong results for vintage sports cards and show that the market has nearly recovered after its post-pandemic collapse.

🚀 Castelion fundraise: The defense tech startup founded by former SpaceX engineers and specializing in missiles is reportedly in talks to raise new funding at a $12 billion valuation, more than quadruple its last valuation of $2.8 billion in December.

🤖 Midjourney pivot: The AI image generation startup is moving into the health space, announcing plans to launch an advanced full-body scanner tool, calling it an “ultrasonic CT.” The company has an ambitious goal of having 50,000 scanners worldwide with the capability to perform a billion full-body scans a month.

🏀 NBA Finals jerseys: Game-worn jerseys from the most recent NBA Finals are coming up for sale at Sotheby’s later this month, with the one worn by Finals MVP Jalen Brunson expected to fetch $1 million or more. Another centerpiece item is the ball used in the Knicks’ record-breaking Game 4 comeback win.

Wednesday: Sotheby’s Modern & Contemporary Art Evening Sale in London, featuring a Claude Monet water lilies painting with a high estimate of more than $50 million; New home sales report released; The Fed will release its 2026 bank stress test results.

Thursday: Personal Consumption Expenditures (PCE) and Core PCE indices, the Fed’s preferred inflation metrics, released.

Friday: Consumer sentiment index released.

Sunday: The Spring Goldin 100 auction, featuring multiple seven-figure sports cards; The World Cup’s knockout stage begins, with the first Round of 32 game at 3 PM ET.