Inflation Rebound and Ongoing Geopolitical Tensions Keep Bitcoin Under Pressure
🔍 Key Insights
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📊 Market Commentary
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U.S. April PCE data rebounded in line with expectations. Although inflation pressures climbed to the highest level in nearly three years, downward revisions to GDP growth alongside broad weakness in consumption and employment data pushed U.S. Treasury yields lower, increasing market concerns over an economic slowdown. Meanwhile, ceasefire rumors between the U.S. and Iran continued to fluctuate, with no substantive agreement reached so far. Oil prices experienced sharp intraday volatility before ultimately closing flat. Against this backdrop, major U.S. equity indices continued setting fresh record highs, the U.S. dollar weakened, and gold rebounded. The crypto market further diverged from U.S. equities, with Bitcoin extending its weak performance, falling below the $73,000 level and recording its third consecutive daily decline.
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BTC: $73,621 (-1.11%); ETH: $2,009 (-0.75%); NASDAQ: +0.91%; S&P 500: +0.58%; WTI: $88.5 (-0.98%); Fear & Greed Index: 23 (Previous: 22) (Data as of: 2026-05-29 00:00 UTC)
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🧠 Market Insights
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Traditional financial trading systems are accelerating toward the crypto market’s “24/7 trading” model, with around-the-clock trading increasingly becoming a new global capital market trend. CME announced that BTC futures and options on its Globex platform will officially transition to 24/7 trading starting this Friday, leaving only a weekly Sunday UTC 22:00–23:00 maintenance window. This could gradually mark the end of the long-standing “CME gap.” Meanwhile, CBOE will also launch extended trading hours for selected single-stock options, enabling 5×24-hour trading for major equities. Traditional market trading rules are increasingly being reshaped by crypto market dynamics, further blurring the boundaries of the global asset pricing system.
Macroeconomics
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U.S.-Iran tensions: The U.S. and Iran exchanged fire again in the Strait of Hormuz. Axios reported that the two sides had reached an agreement pending Trump’s approval. U.S. Vice President Vance stated that while no agreement has been finalized, both sides are “close to the goal.”
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U.S. April Core PCE inflation rose to 3.3% YoY (previously 3.2%), the highest level since November 2023, in line with market expectations. MoM growth came in at 0.2%, below the expected 0.3% and previous 0.3%.
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The revised annualized U.S. Q1 real GDP growth rate was 1.6%, versus both the previous and expected 2.0%.
Industry Events
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CME announced that BTC futures and options on its Globex platform will officially transition to 24/7 trading starting this Friday, retaining only a weekly Sunday UTC 22:00–23:00 maintenance window.
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CBOE will launch extended trading hours for selected single-stock options.
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U.S. Treasury Secretary Bessent publicly urged Congress to advance crypto market structure legislation, stating that “bringing digital assets into America is the most important thing.” The probability of the CLARITY Act passing rebounded to 57%.
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The White House initiated a review of CFTC prediction market regulatory rules.
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Polymarket launched the beta version of its perpetual futures product, with access to be gradually rolled out over the next four weeks.
Alpha Projects Performance
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HYPE: Grayscale submitted the final registration filing for the GHYP spot Hyperliquid ETF, which has been renamed the “Grayscale Hyperliquid Staking ETF,” suggesting the addition of staking functionality. HYPE rebounded 5.4%, climbing back above $60.
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XLM: Following Stellar Development Foundation’s partnership announcement with the DTCC, XLM rose for a second consecutive day, gaining 14% over the past 24 hours.
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BNB: VanEck launched the first U.S. spot BNB ETF (VBNB). BNB price action remained muted, declining 1.4% over the past 24 hours.
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DELL: Dell’s Q1 revenue grew 88%, with AI-related revenue surging 757%. The company significantly raised its full-year guidance, and its stock jumped nearly 40% in after-hours trading.
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SQUIRE: The SQUIRE token is themed around a young knight holding reins beside a black horse, symbolizing loyalty and a fantasy journey. Its branding depicts an epic scene of a cloaked squire standing alongside a powerful black horse. Current market cap is approximately $6.8 million, with gains exceeding 300% over the past three days. The token has been listed on KuCoin Alpha.
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HARAMBE: The HARAMBE token is inspired by Harambe, the western lowland gorilla whose accidental death while protecting a child sparked widespread internet mourning and meme culture. The token currently has a market cap of approximately $1.2 million and has been listed on KuCoin Alpha.
This Week’s Outlook
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May 29: Japan April unemployment rate; HYPE token unlock representing 4.16% of circulating supply, worth approximately $582 million.
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May 30: Bank of England MPC member Catherine Mann to speak.
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TBD: Further developments in the U.S.-Iran situation.