U.S.-Iran tensions remain volatile, pressuring risk assets lower
🔍 Key Insights
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📊 Market Overview
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U.S.-Iran tensions remain unstable, with negotiations and escalation headlines intertwining. Both sides have resumed military exchanges, though the ceasefire agreement has not officially collapsed. Oil prices staged a V-shaped rebound, U.S. equities pulled back, and the three major stock indexes ended their two-day rally. Bitcoin also corrected in tandem, briefly falling below $80,000 as market sentiment returned to fear territory. Meanwhile, ETH/BTC posted its fourth consecutive decline amid recent whale-driven sell pressure.
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BTC: $80,003 (-1.77%); ETH: $2,291 (-2.55%); NASDAQ: -0.38%; S&P 500: -0.13%; WTI: $95.8 (+1.71%); Fear & Greed Index: 38 (previously 47) (Data as of: 2026-05-08 00:00 UTC)
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🎯 Today’s Focus: U.S. April unemployment rate, nonfarm payrolls; preliminary May 1-year inflation expectations, preliminary University of Michigan consumer sentiment index; SXT token unlock representing 23.20% of circulating supply, valued at approximately $6.1 million
Macroeconomics
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Tensions in the Strait of Hormuz have intensified again: Iran claims the U.S. violated the ceasefire by launching airstrikes on Iran’s coastline and oil tankers, and states it has retaliated. The U.S. military says it intercepted unprovoked Iranian attacks and conducted targeted strikes on Iranian military facilities. Iran’s Foreign Ministry stated it has not yet responded to the U.S. proposal. U.S. Central Command confirmed precision strikes on Iranian military targets; Trump commented: “This was just a light tap. The ceasefire is still ongoing and remains effective.”
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Middle Eastern media reported that the U.S. and Iran have reached a consensus on easing the U.S. maritime blockade
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Iran has designated two shipping lanes for vessels transiting the Strait of Hormuz
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U.S. court rules Trump’s 10% global tariff policy invalid
Industry Events
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South Korea will proceed with crypto asset taxation as planned starting January 2027
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U.S. Treasury sends letter to Binance requesting stronger compliance measures, potentially linked to investigations into Iranian crypto transactions
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Coinbase executive: The CLARITY Act review process could begin as early as next week
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Strategy: As long as Bitcoin appreciates 2.3% annually, all dividend obligations can be permanently sustained; JPMorgan: Strategy’s Bitcoin purchases could reach $30 billion this year
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Lido releases KelpDAO incident update: EarnETH users will receive full reimbursement, with related vaults to restart once the Kelp protocol resumes
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Treasure Global to deploy $100 million in an ETH-focused digital asset treasury
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Bitwise launches its first tokenized crypto basis fund, USCC
Alpha Project Performance
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TON: Following bullish promotion from founder Durov, TON surged over 100%. TON ecosystem tokens including DOGS, HMSTR, NOT, and X continued rising
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CC: 21Shares launched the Canton Network native token ETF TCAN. CC showed limited movement, down 1% over the past 24 hours
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JTO: Jito will launch trading app JTX in July, entering the retail market. JTO surged 50% in the past 24 hours
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ONDO: Ondo, in collaboration with JPMorgan, Mastercard, and Ripple, completed the first cross-border, cross-bank tokenized U.S. Treasury exchange. ONDO rose 9%
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LAB: ZachXBT accused the LAB team of manipulating token prices on CEXs. LAB plunged 28% before rebounding to close higher
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CRWV: CoreWeave reported 112% YoY Q1 revenue growth, but widening losses and weaker-than-expected Q2 guidance sent shares down over 10% after hours
Weekly Outlook
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May 7: U.S. April NY Fed 1-year inflation expectations; Coinbase earnings report; RED token unlock representing 12.20% of circulating supply, valued at approximately $5.5 million
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May 8: U.S. April unemployment rate, nonfarm payrolls; preliminary May 1-year inflation expectations, preliminary University of Michigan consumer sentiment index; SXT token unlock representing 23.20% of circulating supply, valued at approximately $6.1 million