Key Takeaways
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Macro Environment: Markets await the Fed's rate decision, with trading sentiment cooling as U.S. stocks decline for two consecutive sessions. After hours, China’s Ministry of Commerce announced plans to engage in trade talks with the U.S., triggering a rise in U.S. stock futures.
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Crypto Market: Bitcoin continues to show strong correlation with U.S. stock futures. Following news of U.S.-China trade talks, Bitcoin briefly surged 2%, breaking above $97,000. Additionally, New Hampshire became the first U.S. state to establish a Bitcoin strategic reserve, allowing up to 5% of state funds to be allocated to Bitcoin, injecting new official buying power. Bitcoin dominance surpasses 65%.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,606.90 | -0.77% |
| NASDAQ | 17,689.66 | -0.87% |
| BTC | 96,830.30 | +2.21% |
| ETH | 1,816.69 | -0.18% |
Crypto Fear & Greed Index: 67 (59, 24 hours ago), level: Greed
Macro Economy
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U.S. Treasury Secretary: "The 145% tariffs imposed on China cannot be sustained long-term."
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U.S. Treasury Secretary Besant: "Expects Q1 GDP data to be revised upward."
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Trump: "A very positive announcement expected this Thursday, Friday, or next Monday."
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Atlanta Fed GDPNow model projects U.S. Q2 GDP growth at 2.2%.
Industry Highlights
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New Hampshire governor signs law allowing the state to invest in Bitcoin and crypto, with holdings capped at 5% of total state funds.
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U.S. CFTC withdraws appeal against crypto prediction platform Kalshi, which states: "Election contracts will continue."
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U.S. Treasury Secretary: "Does not support the Fed issuing a CBDC."
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SOL Strategies buys 122,500 SOL ($18.25M); DeFi Development increases holdings by 82,404 SOL, surpassing 400,000 SOL total.
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Public company Thumzup files amendment to raise maximum issuance to $500M for Bitcoin acquisitions.
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Adidas launches NFT blind boxes for Xociety game on Sui blockchain.
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BVNK secures investment from Visa Ventures.
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Treasure Chain to shut down on May 30.
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BNB Chain launches official MCP protocol to accelerate AI Agent on-chain integration.
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eToro Targets $4 Billion Valuation and Raises $500 Million Through IPO.
Project Highlights
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Hot Tokens: XRP, KMNO, LTC
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NEAR: Bitwise files application with U.S. SEC for spot NEAR ETF.
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KMNO/SYRUP: Binance lists SYRUP & KMNO with Seed Tags; SYRUP is the new version post-MPL migration.
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HAEDAL: Launches HAEDAL buyback program.
Weekly Outlook
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May 7: Ethereum Pectra upgrade goes live, optimizing staking & wallet features; NEON unlocks 22.51% of circulating supply ($6.2M).
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May 8: Fed FOMC rate decision; Fed Chair Powell’s press conference; Coinbase earnings report.
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