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Golden Ten Data reported on May 20 that Hauke Siemssen, interest rate strategist at Commerzbank, said in a report that the bond market may stabilize on Wednesday before macro data provides a reality check for the market on Thursday. He pointed out: "With global bond markets being sold off and yields across all maturities hitting highs, it seems there's nowhere to hide." He added: "The ultra-long end has been hit particularly hard, with the 30-year US Treasury yield reaching its highest level since 2007, while the 30-year Japanese government bond yield remains above the record high of 4%." According to Tradeweb data, the 30-year US Treasury yield is currently roughly unchanged at 5.182%.

According to Odaily, Arkham monitoring shows that Goldman Sachs sold $152 million worth of XRP, $500 million worth of ETH, and $450 million worth of BTC, and purchased HYPE.

ChainCatcher news: Analyst Murphy (@Murphychen888) stated on social media that from May 15 to 19, Bitcoin declined for five consecutive trading days. The market sentiment, which previously feared missing out, shifted rapidly, and some investors began to expect the price to fall back to the $40,000–$50,000 range. However, from an on-chain chip structure perspective, large funds are showing a different picture. According to data from May 15, the $66,000 and $78,000 price points were where turnover was most concentrated, clearly reflecting major funds' entry positions. Notably, the chip bar in the $80,000 to $82,000 range was relatively low. Despite Bitcoin staying in this range for nearly a week, turnover was sparse, indicating that after the price moved above $80,000, capital became more cautious. By May 19, as the price fell, the chip bar at $78,000 not only did not decrease but actually increased. The most significant change was at the $76,000 position. Previously, when the price broke through this level, there were just over 200,000 coins at this price. However, as the price dropped back to this level, the chips increased to about 380,000 coins. Analysis considers this shows that funds entering at $78,000 did not panic and exit even though the cost level was breached. When the price fell to $76,000, new funds chose to enter and take over, demonstrating a clear attitude. From the chip structure, a reasonable pullback range is roughly between $78,000 and $66,000. A secondary dip into this range followed by turnover could make the structure more resilient. Although it's still difficult to predict the ultimate low, judging from the willingness of funds to step in around $76,000, the market's willingness to support from below is quite clear.