Inflation Signals Persist as Risk Assets Diverge
🔍 Key Insights
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📊 Market Overview
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U.S.-Iran negotiations remain stalled, while inflation concerns resurfaced as U.S. PPI data came in hotter than expected. Against this backdrop, crude oil prices remained elevated near $100, and long-duration Treasury yields climbed for a third consecutive day. U.S. equities continued setting record highs, driven by bullish sentiment in technology stocks. Bitcoin, however, diverged from equities, briefly falling below $79,000 before finding support near the short-term holder cost basis. ETH/BTC hit a recent low before rebounding 0.81%, while altcoins broadly declined.
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BTC: $79,319 (-1.47%); ETH: $2,258 (-0.73%); NASDAQ: +1.20%; S&P 500: +0.58%; WTI: $100.9 (-1.03%); Fear & Greed Index: 34 (previous: 42) (Data as of 2026-05-14 00:00 UTC)
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🧠 Market Insights
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The U.S. Senate has released an updated version of the CLARITY Act, with the Senate Banking Committee set for a critical vote today. A compromise has been reached on the major stablecoin yield dispute: issuers are prohibited from paying interest solely for holding stablecoins, but user incentives tied to related activities are permitted. If approved, the bill is expected to advance to Senate debate and voting in June, with the White House targeting July 4 for final signing. This vote marks the final sprint for the first comprehensive U.S. crypto market structure legislation. If enacted, it would establish a clearer regulatory framework for the crypto market and provide stronger institutional capital entry standards.
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🎯 Today’s Focus: Trump will visit China from May 14–15; the U.S. Senate Banking Committee will hold its CLARITY Act hearing on May 14.
Macroeconomics
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U.S. April PPI YoY reached 6.0%, the highest since December 2022, above market expectations of 4.9%
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U.S. Senate approved Kevin Warsh as the next Federal Reserve Chair
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U.S. Vice President Vance: U.S.-Iran negotiations are making progress, with diplomacy remaining the primary focus
Industry Events
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U.S. SEC: NYSE tokenized securities proposal has officially taken effect
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David Sacks: Review of the CLARITY Act is a critical step for the U.S. to become the “global crypto capital”
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Fidelity International’s first tokenized fund received Moody’s highest AAA-mf rating
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Charles Schwab has begun offering spot crypto trading services to U.S. retail clients
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Metaplanet Q1 earnings: Revenue up 251% YoY, Bitcoin holdings reached 40,177 BTC; preferred stock listing delayed due to Japanese market structure issues
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Anthropic valuation may surpass $900 billion, exceeding OpenAI for the first time
Alpha Project Performance
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NVDA: Nvidia shares rose for a sixth consecutive day, closing +2.3% at another record high, with market cap reaching $5.5 trillion
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GOOGL: Google shares gained 3.9%, hitting a new all-time high
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UP: Listed on Korean exchanges, surged 60% intraday before retracing; still up 37% over 24h
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XRP: XRP spot trading volume topped Upbit, surpassing BTC and ETH
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JUP: Jupiter partnered with Bitwise to launch an institutional-grade USDe lending market on Solana
Weekly Outlook
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May 14: Trump visits China (May 14–15); U.S. Senate Banking Committee holds CLARITY Act hearing
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May 15: Powell’s term as Fed Chair ends, Kevin Warsh expected to succeed; Dmail Network begins phased shutdown; Cosmos ecosystem lending chain UX Chain fully ceases operations; STRK unlocks 4.05% of circulating supply (~$6.8M); SEI unlocks 0.95% (~$3.8M)
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TBD: Continued monitoring of developments in Iran