News

On May 28, Garrett Jin, the agent of 'BTC OG Insider Whale', released the 'Weekly Market Signal Strategy', stating that geopolitical tensions and the US dollar remain in a stalemate. Following the US strikes on Iranian targets, the situation in the Strait of Hormuz remains unresolved. Although US Secretary of State Rubio mentioned 'good news', Iran's draft peace agreement was denied by the White House. Meanwhile, US long-term Treasury yields continue to hover around a 19-year high of 5.07–5.18%. The S&P 500 index briefly reached a new high but quickly retreated. Garrett Jin believes that a single catalyst is insufficient to break the market; at least two of the three factors—credit, the Federal Reserve, and geopolitical issues—must overlap to trigger a real turning point. Additionally, AI capital expenditure is rapidly spreading from the US to Asia, with ByteDance planning to increase its capital expenditure to as much as $70 billion this year, while Tencent and Alibaba are also raising their spending levels, indicating that AI competition has escalated to a sovereign issue.

ChainCatcher news, according to PRNewswire, Nasdaq-listed company Bit Digital announced a $20 million purchase of an additional 8,568 ETH. After this transaction, its total Ethereum holdings have increased to approximately 158,461.75, with the company stating that this acquisition helps lower the average holding cost and supports the growth of net asset value per share.

Last week, the number of first-time unemployment claims in the United States rose to 215,000, but despite the economic uncertainty brought by the Iran war, the number of layoffs remains very low.