📢 KuCoin Daily Report | May 29

1️⃣ Market Overview: U.S. inflation data and ongoing geopolitical uncertainty continued pressuring crypto markets. Despite U.S. equities extending gains to fresh record highs, Bitcoin remained weak, falling below $73,000 and recording its third consecutive daily decline, further diverging from traditional risk assets.

2️⃣ Geopolitics: U.S.–Iran tensions remain unresolved as both sides exchanged fire again in the Strait of Hormuz. While reports suggested a potential agreement awaiting Trump’s approval, officials stated that negotiations are still ongoing and no final deal has been reached. Oil prices experienced sharp intraday swings before ultimately closing near flat.

3️⃣ Macro Signals: U.S. April Core PCE inflation rose to 3.3% YoY, the highest level since late 2023, reinforcing persistent inflation concerns. Meanwhile, downward GDP revisions and weaker consumption and employment data pushed Treasury yields lower, increasing market fears surrounding a broader economic slowdown.

4️⃣ Industry Highlights: CME announced that Bitcoin futures and options on Globex will officially transition to 24/7 trading starting this Friday, potentially reducing the long-standing “CME gap” phenomenon. CBOE also unveiled extended trading hours for selected stock options, highlighting how traditional financial markets are increasingly adopting crypto-style continuous trading models.

5️⃣ Regulatory Trends: U.S. Treasury Secretary Bessent urged Congress to accelerate crypto market structure legislation, while the probability of the CLARITY Act passing rebounded to 57%. The White House also initiated a review of CFTC prediction market regulations, and Polymarket launched the beta version of its perpetual futures product.

6️⃣ Market Trends: HYPE rebounded above $60 after Grayscale submitted final filings for its “Hyperliquid Staking ETF.” XLM rallied 14% following Stellar’s partnership announcement with DTCC, while Dell surged after reporting explosive AI-driven revenue growth. KuCoin Alpha-listed tokens SQUIRE and HARAMBE also saw strong speculative momentum.

7️⃣ This Week’s Focus: Markets are watching the large HYPE token unlock representing approximately $582 million in supply, upcoming comments from Bank of England policymaker Catherine Mann, and continued developments surrounding the U.S.–Iran situation.

$BTC $XLM $HYPE $BNB