performance

According to Gate market data, U.S. stock AI chip stocks showed mixed results before the market opened, with Intel (INTC.O) down 3.2%, Baidu (BIDU.O) and AMD (AMD.O) down 2.7%, Qualcomm (QCOM.O) and Broadcom (AVGO.O) down over 1%, while Microsoft (MSFT.O) rose 1.1%.

According to Jinshi reports, after the US PCE data showed moderate performance, US Treasury bonds erased most of their declines.

According to Jinshi, U.S. stock AI chip stocks showed mixed results before the market opened, with Qualcomm rising 13%, Intel up nearly 6%, AMD up nearly 4%, while Baidu fell 2% and Google dropped 1.4%.

According to Jinshi reports, Micron Technology's stock surged 18% in pre-market trading, with the company's strong performance greatly exceeding market expectations, and several major banks have raised their target prices for it.

According to Gate market data, U.S. stocks related to artificial intelligence showed mixed results before the market opened, with SpaceX dropping over 5%, Google falling over 1.5%, and Tesla declining over 1.5%. Meanwhile, Intel rose nearly 4%, Micron Technology increased by 3.6%, and TSMC gained over 2%.

10x Research analysis points out that the Bitcoin yield-enhanced exchange-traded fund BITA launched by BlackRock may have design flaws in its strategy. By generating income through selling call options, it may lead investors to underperform against spot Bitcoin in most market environments, or fail to achieve ideal absolute returns.10x Research believes that BITA executes the call option selling strategy monthly according to fixed rules, and regardless of whether Bitcoin rises, consolidates, or falls, investors may make unfavorable trade-offs between income and upside potential; its proposed framework emphasizes "timing and conditional execution," obtaining option premiums only when market conditions are favorable. The high volatility of Bitcoin mainly stems from information asymmetry among market participants and a highly marketed market environment. For a long time, many investors have attempted to capture this volatility return through systematic strategies, but most have not succeeded.

Cryptocurrency analyst Darkfost stated on social media that Bitcoin is currently facing one of the most severe U.S. Treasury yield environments since its inception. Although historically, the U.S. federal funds rate and the U.S. dollar index have reached higher levels, the current long-term U.S. Treasury yields remain elevated, with the 30-year and 10-year Treasury yields fluctuating between 4.5% and 5%. Coupled with the market's rising expectations for another interest rate hike within the year, this has led to sustained high funding costs and a tightening liquidity environment.Analysis suggests that in a high-yield environment, investors are more inclined to allocate to low-risk fixed-income assets, thereby diminishing the attractiveness of risk assets, including Bitcoin. Historical experience shows that rising U.S. Treasury yields are often accompanied by tightening financial conditions, which puts pressure on Bitcoin's price movements. The current market is at a critical turning point, with the risk premium of risk assets relative to long-term Treasuries being compressed.However, if the macroeconomic outlook becomes clearer in the future, and investors regain confidence in the bond market, capital inflows into the bond market may drive yields down, thereby expanding the risk premium and improving the investment environment for risk assets like Bitcoin. The market generally believes that this process may take several months, and its evolution will largely depend on the development of U.S. government policies and the overall economic situation.

Bitcoin briefly fell below $60,000 last Monday, marking the worst weekly performance since the FTX exchange collapse in 2022. As of last Sunday, Bitcoin had accumulated a 16% decline over the past 7 days, retreating more than 50% from its historical high of over $126,000 in 2025. Several market analysts warned that the current rebound may be difficult to sustain, and Bitcoin may not have reached the bottom of this cycle yet. Griffin Ardern, co-founder of Primal Fund, stated that the market is still quite far from the "true bottom."Data shows that the U.S. spot Bitcoin ETF has recorded net outflows for 13 consecutive trading days, with a total outflow of approximately $5.5 billion. At the same time, Bitcoin fell below the 200-week moving average, widely regarded as a key support level, further weakening market confidence. Paul Howard, a senior executive at crypto trading firm Wincent, described the current market as a "silent bear market," believing that falling below the 200-week moving average is an important confirmation signal for the market entering a bear phase.Analysts pointed out that the ongoing conflict between the U.S. and Iran, the reversal of expectations for Federal Reserve interest rate cuts, and strong U.S. employment data are driving the market to reprice the interest rate path, with a high interest rate environment being unfavorable for the performance of risk assets, including crypto assets. Additionally, some funds are flowing from the crypto market into artificial intelligence and tech stock sectors. Nevertheless, the current pullback is still less than historical bear market cycles. In past bear markets, Bitcoin typically retreated about 80% from its peak, while this round has seen a decline of about 50%. Some traders believe that if the macro environment continues to deteriorate and companies holding large amounts of Bitcoin face financing pressures, there remains a risk of further downside in the market.

According to Jinshi, the Global Research Department of Bank of America reported that due to a significant rise in energy prices, the overall CPI in the U.S. for May is expected to increase by 0.46% month-on-month, and the year-on-year growth rate is expected to rise from 3.8% in April to 4.2%, reaching the highest level since April 2023. The core CPI month-on-month increase is expected to be 0.2%, with a year-on-year increase of 2.8%. The bank pointed out that this CPI data will be the focus of attention regarding the impact on core PCE and the outlook for monetary policy.

According to SoSoValue data, the cryptocurrency market shows a mixed performance, with the AI sector rising 3.59% in 24 hours. Within this sector, Worldcoin (WLD) surged 22%, while SkyAI (SKYAI) and Tagger (TAG) increased by 6.26% and 10.28% respectively. At the same time, the DeFi sector rose 1.93%, with Hyperliquid (HYPE) up 2.20%, briefly surpassing $75 during the day, setting a new historical high. Ethena (ENA) saw a significant increase of 21.51% due to factors such as Coinbase Ventures' initial investment in its tokens.Additionally, Bitcoin (BTC) fell again by 6.19%, briefly dropping below $62,000 during the day; Ethereum (ETH) decreased by 4.52%, falling below $1,800.In other sectors, the RWA sector rose 1.48% in 24 hours, with Ondo Finance (ONDO) increasing by 0.56%; the NFT sector rose 2.55%, with Audiera (BEAT) up 19.27%.The Layer2 sector fell by 1.04%, with Polygon (POL) rising by 0.69%; the Meme sector decreased by 1.85%; the Layer1 sector dropped by 3.67%, while Kaspa (KAS) rose by 6.30%; the PayFi sector fell by 3.73%, with Monero (XMR) increasing by 7.60%; the CeFi sector dropped by 5.14%, while Aster (ASTER) rose by 0.15%.The cryptocurrency sector indices reflecting historical market trends show that the ssiSocialFi, ssiCeFi, and ssiMAG7 indices fell by 8.61%, 5.61%, and 5.35% respectively.

Binance Research stated that the recent weakening of the cryptocurrency market may not be due to the cryptocurrency assets themselves, but rather due to the high concentration of funds in the U.S. stock market. It pointed out that the CBOE Discrete Index rose to 42, the third highest in history, reflecting the concentration of funds within the S&P 500 index towards a few popular themes, which has marginalized Bitcoin.

According to Gate market data, the pre-market performance of star tech stocks in the US shows a mixed trend, with Broadcom up 5.5%, Oracle down 2.5%, Google and Intel both down 2%, and AMD and Microsoft down 1.5%.

According to Gate market data, U.S. stocks closed with the Dow Jones up 0.36%, the S&P 500 index up 0.02%, and the Nasdaq up 0.07%. Tech stocks showed mixed performance, with Micron Technology up 3.63%, Tesla up 1.66%, Qualcomm down over 6%, and Intel down 1.4%.

According to CoinDesk, Mark Connors, Chief Investment Officer of Risk Dimensions and former Head of Global Portfolio Management at Credit Suisse, stated that Bitcoin's previous underperformance against the S&P 500 index, which lasted for 142 days, ended in early May, marking the longest duration in history. It has now entered a new phase of outperformance.

Galaxy Research Director Alex Thorn posted on the X platform, pointing out that this week, spot Bitcoin exchange-traded products (ETPs) continued to experience capital outflows, with a net outflow of $1.2 billion for the week, marking the third worst weekly performance since 2026, reflecting an increase in market risk aversion.Galaxy Research Director Alex Thorn stated on the X platform that spot Bitcoin exchange-traded products experienced continuous capital outflows this week, with a net outflow of $1.2 billion for the week, making it the third worst weekly performance so far in 2026, indicating that market risk aversion is still rising.

Bernstein analysts stated last week that Figure Technology Solutions' first-quarter financial report shows the company is rapidly becoming a unique presence in the blockchain market platform. The performance released by Figure on May 11 significantly exceeded Wall Street expectations in both revenue and EBITDA, with its core business transforming real-world credit assets into blockchain-native tools that can be traded and financed on-chain.Analysts believe Figure is building a blockchain-native capital market ecosystem, fundamentally differentiating itself from traditional balance sheet-based fintech lending platforms, and expect its stock FIGR to become a real-time reflection of blockchain loan volumes. Bernstein pointed out in a research report on May 15 that on-chain real-time data indicates Figure is about to welcome a record-breaking second quarter.Co-founder Mike Cagney introduced that the company's Forge platform can convert entire loans into small single-dollar liquidity participation units, addressing the liquidity challenges of RWA in DeFi. Bernstein previously estimated that the potential market size for annual credit issuance that could migrate on-chain could reach $4 trillion, while the current tokenized credit market is approximately $5.14 billion.

Forward Industries, a Solana treasury company, announced its quarterly financial report for the period ending March 31, 2026, showing a year-on-year revenue increase of 319% to $13 million. However, due to the decline in the fair value of crypto assets, net losses widened to $283.1 million.The company stated that the growth this quarter was mainly driven by increased staking rewards from Solana (SOL). However, during the same period, it recorded a digital asset loss of $201.7 million and an asset impairment of $85.1 million, primarily due to the price volatility of SOL leading to a decrease in the valuation of holdings.The financial report indicated that the company held approximately 7.04 million SOL during the quarter and earned about 201,200 SOL in rewards through staking, with nearly all SOL assets being staked. Solana fell approximately 33.7% during the reporting period, closing at $82.44. Price volatility is considered the core factor dragging down financial performance.Additionally, Forward Industries signed a loan agreement with Galaxy Digital in March and drew the first tranche of $40 million in financing, using fwdSOL as collateral, with a comprehensive annual interest rate of about 3.4%. The company stated that this financing is used to optimize its liquidity structure.Company management indicated that they have adjusted the balance sheet through cost reductions, debt instruments, and stock buybacks to cope with market volatility and enhance long-term value. Despite a significant widening of quarterly losses, the company's stock price slightly declined in after-hours trading following the financial report, but it still recorded a monthly increase recently.