We 20/5 | Daily Crypto & Macro News
Happy Wednesday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
NVIDIA is set to release its earnings after the market close today. Wall Street expects approximately $78.75–79.2 billion in revenue (up ~79% YoY) and EPS around $1.76–1.78, driven largely by ~$72–73 billion from the data center segment with strong demand for Hopper and Blackwell GPUs.
K33 Research projects that $60,000 will likely mark the maximum drawdown for Bitcoin in the current bear market, describing the 2025 bull as less aggressive and setting up a more moderate 2026 bear phase.
Public company Strive purchased 382 Bitcoin for $30.3 million, bringing its total holdings to $1.18 billion.
A US Congressman stated that the Pentagon is currently researching how Bitcoin can strengthen cyber defenses, calling it central to a paradigm shift in national security.
Polymarket odds for the Clarity Act market structure bill being signed into law this year now stand at 64%.
Japan’s 10-year government bond yield surged above 2.80% for the first time in history.
HSBC raised its Nvidia price target from $295 to $325.
Surging commodity prices are expected to push US CPI above 4% year-over-year in May, with inflation likely exceeding 7% annualized in the second quarter unless geopolitical tensions ease.
The US stock market sits at all-time highs with credit spreads near record lows, while inflation has remained above the Fed’s target for 62 consecutive months and the central bank continues expanding its balance sheet.
Market pricing has shifted from expecting two Fed rate cuts in 2026 to now assigning higher odds to a hike than a cut.
President Trump described the recent rise in gas prices as “peanuts” and “very temporary.”
The US and China agreed to launch formal government-to-government dialogue on AI.
A Trump-IRS settlement permanently blocks the IRS from auditing tax claims for President Trump and his family.
Senator Lummis noted that China and Europe are actively competing with the US to lead in crypto.
📊 Altcoin Market Updates 📊
Japan officially recognized foreign-issued crypto stablecoins as legal electronic payment methods starting June 1.
XRP ETF products saw $750,440 in net inflows from ETF clients, bringing total ETF-held net assets to $1.14 billion.
Hyperliquid’s native token posted triple-digit gains year-to-date, outperforming Bitcoin, Ethereum, Solana, BNB, and Coinbase stock, all of which remain down double digits.
Bitwise’s CIO described Hyperliquid as a “super app” targeting the $600 trillion global asset market rather than just the $3 trillion crypto economy.
Solana Foundation and ecosystem voices called for faster reductions in SOL inflation and emphasized embracing the “warm collectivism of memecoins.”
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
$BCH $ETH $SPY $QQQ $OIL
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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