Inflation Rebounds Above Expectations, Broad Pressure Weighs on Risk Assets
🔍 Key Insights
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📊 Market Overview
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U.S. CPI data came in above expectations, indicating that inflationary pressures stemming from escalating geopolitical tensions are increasingly materializing. Divergences between the U.S. and Iran over restarting negotiations continue to widen, driving crude oil prices back above the $100 threshold. Amid the combined pressures of prolonged geopolitical deadlock, rising inflation concerns, and post-earnings profit-taking, U.S. equities broadly retreated. Bitcoin weakened alongside equities, briefly falling below the $80,000 mark intraday, while the ETH/BTC exchange rate continued to decline, reaching its lowest level in nearly ten months.
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BTC: $80,500 (-1.52%); ETH: $2,275 (-2.76%); NASDAQ: -0.71%; S&P 500: -0.16%; WTI: $102.0 (+3.87%); Fear & Greed Index: 42 (previously 49) (Data as of: 2026-05-13 00:00 UTC)
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🎯 Today’s Focus
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U.S. April PPI YoY and MoM data release
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APT token unlock (0.67% of circulating supply, valued at approximately $12.4 million)
Macroeconomics
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U.S. Secretary of Defense: If necessary, the U.S. already has plans to escalate tensions with Iran
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U.S. April unadjusted CPI YoY: 3.8% (vs. 3.7% expected)
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“Fed mouthpiece”: April CPI data challenges optimistic views surrounding the “tariff inflation” narrative
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U.S. Senate confirms Kevin Warsh as Federal Reserve Governor
Industry Events
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U.S. Senate releases 309-page draft of the CLARITY Act, with voting scheduled for Thursday
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JPMorgan to launch its second tokenized money market fund on Ethereum
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DTCC expands its collateral management system and introduces Chainlink integration
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OpenAI and Anthropic simultaneously crack down on unauthorized secondary-market equity trading
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AI chip manufacturer Cerebras to go public this week at a $5.5 billion IPO valuation
Alpha Project Performance
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ZEC: Grayscale has filed to convert its Zcash Trust into a spot ETF; ZEN rose 5% over the past 24 hours
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VVV: Following Upbit’s listing of VVV, the token initially surged before retracing, falling 6% on the day; Upbit faces accusations of insider trading
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STRK: Starknet launched privacy-focused BTC asset strkBTC; STRK price remained stable over the past 24 hours
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RON: Ronin migrated to Ethereum Layer 2; market reaction remained neutral, with RON down 2.8% over 24 hours
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Fueled by Circle’s official endorsement and AI Agent payment narrative, x402 ecosystem token MRDN surged 160%
Weekly Outlook
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May 13: U.S. April PPI YoY and MoM data; APT unlock (0.67%, ~$12.4 million)
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May 14: Trump to visit China from May 14–15; U.S. Senate Banking Committee hearing on the CLARITY Act
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May 15: Powell’s Fed Chair term ends; Kevin Warsh expected to assume leadership; Dmail Network begins phased shutdown; Cosmos ecosystem lending blockchain UX Chain to fully cease operations; STRK unlock (4.05%, ~$6.8 million); SEI unlock (0.95%, ~$3.8 million)
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TBD: Continued monitoring of Iran developments, with Trump previously suggesting a possible agreement could be reached next week.