Hyperliquid is currently testing new event contracts on its platform, according to Odaily. These contracts include a 15-minute cryptocurrency market for price fluctuations.

Micron Technology (MU.O) has seen its market capitalization exceed $700 billion, with shares rising nearly 8%. According to Odaily, a recent transaction involved an address depositing 1.5 million USDC into Hyperliquid, using 5x leverage to open a long position on xyz:MU (Micron). The position currently shows a floating profit of $260,000.

SIX, a Swiss exchange and financial market infrastructure provider, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to offer crypto asset custody services. According to ChainCatcher, SIX plans to integrate its previously independent digital central securities depository into its core subsidiary, SIX SIS AG, thereby unifying traditional securities and digital asset infrastructure. This integration allows financial institutions to manage stocks, bonds, and crypto assets under a single regulated framework, enhancing operational efficiency and legal certainty while reducing the complexity of switching between multiple systems. SIX aims to create a unified gateway connecting traditional finance with the digital economy, supporting integrated post-trade services across asset classes. Market observers believe this development signifies the maturation of regulated digital asset infrastructure and could accelerate institutional adoption of cryptocurrencies.

U.S. stocks opened with gains, as the Nasdaq Composite increased by 0.70% at the start of trading. According to NS3.AI, the S&P 500 also rose by 0.56%, while the Dow Jones Industrial Average saw an uptick of 0.52%. This positive opening reflects investor optimism in the market.

Micron Technology (MU.O) has surpassed a market capitalization of $700 billion and is currently up nearly 8%. Previously, it was reported that an address deposited 1.5 million USDC into Hyperliquid to open a long position in xyz:MU (Micron) with 5x leverage, and is currently showing a floating profit of $260,000.

Key Takeaways Bitcoin crossed $81,000 in Asian trading Tuesday -- its highest level since late January -- up 5.3% on the week, even as broader crypto markets traded mixed and macro risks persistedOptions desks have been quietly building call ratio structures for cheap upside exposure, with Nomura's Laser Digital flagging that a decisive break above $80,000 is expected to flip the Bitcoin risk reversal from negative to positive for the first time in the current cycleBrent crude sits at $113 after Monday's 5.8% surge on Iran's disputed missile claim; US destroyers Truxtun and Mason transited the Strait of Hormuz overnight under "coordinated threats," and a VTTI oil terminal in Fujairah was struck in an aerial attackTrump told Salem News Channel the war may last another two to three weeks, suggesting the four-week ceasefire is frayingStrategy reports Q1 earnings Tuesday post-market; US non-farm payrolls drop Friday -- both are potential volatility catalysts for BitcoinDogecoin remains the week's standout performer at +12.4% with futures open interest sitting at year-highs despite a 1% pullback on Tuesday Bitcoin has crossed $81,000 for the first time since late January, with options markets quietly confirming what spot price action is telegraphing -- a market that is shifting from cautious to constructive even as the macro backdrop remains genuinely hostile. The largest cryptocurrency climbed from $79,000 at the close of US trading Monday to above $81,000 in Asian hours Tuesday, a move that Nomura's market-making arm Laser Digital said in a note shared with CoinDesk has activated options positioning that desks have been building for days. Bitcoin is up 5.3% on the week, having absorbed Monday's sharp reversal on Iran's disputed missile claim and recovered cleanly through the $80,000 level that had capped three prior rally attempts. Options Desks Were Already Positioned The options market structure heading into Tuesday's move is the most technically interesting aspect of the session. For most of the past week, Bitcoin volatility was suppressed -- traders were not paying much for options protection, and the market was not moving fast enough to justify it. When desks did pay for protection, they paid more for puts than calls, reflecting a market more worried about a drop than positioned for a rally. Beneath that surface, however, there has been quiet demand for cheap upside bets structured through call ratio strategies. The trade involves buying call options that pay off if Bitcoin rallies moderately, and financing those by selling higher-strike calls that only pay off if Bitcoin rallies significantly further. The setup costs almost nothing upfront and benefits most if Bitcoin grinds higher without ripping past the upper strike -- exactly the price action the market has been producing. "Should the spot price experience a decisive breakout above $80,000, the currently negative BTC risk reversal is expected to move into positive territory," Laser Digital said. A risk reversal measures the difference in implied volatility between equally out-of-the-money calls and puts. When negative, the market is pricing more fear of downside than appetite for upside. A flip to positive would mark the first signal that options markets have genuinely shifted from cautious to constructive -- a meaningful change in the positioning landscape that could attract additional systematic and momentum-driven buyers. Iran Losing Its Grip on Bitcoin The macro picture has not materially improved, but Bitcoin's reaction function to Iran headlines appears to be changing. Brent crude is sitting at $113 per barrel after Monday's 5.8% surge on Iran's disputed missile claim, with WTI near $104. Overnight, US destroyers Truxtun and Mason transited the Strait of Hormuz escorting two US-flagged vessels under what US Central Command described as "coordinated threats." A VTTI oil terminal in Fujairah was struck in an aerial attack. President Trump told Salem News Channel the war may last another two to three weeks, suggesting the previously announced four-week ceasefire is fraying at the edges. Despite all of this, Bitcoin is at $81,000. The geopolitical risk premium that sent Bitcoin back to $79,000 on Monday has been fully recovered and then some -- a sign that the market's sensitivity to individual Iran headlines is diminishing even as the underlying conflict remains unresolved. Central Bank Holds Reduce Rate Tail Risk Laser Digital also noted that last week's coordinated rate holds from the Federal Reserve, ECB, Bank of England, and Bank of Japan reduce the right-tail distribution of rate outcomes and keep US financial conditions within their current range. With no imminent rate hike risk, the monetary policy backdrop is no longer an active headwind for Bitcoin even if it is not yet a tailwind -- a neutral stance that removes one of the structural overhangs that weighed on crypto through early 2026. Mixed Altcoin Performance Other major cryptocurrencies traded in a narrow range around Tuesday's Bitcoin move. Ether held at $2,379, off 0.1% on the day but up 4.0% on the week. XRP slipped 0.9% to $1.40. Solana dropped 0.9% to $84.84. BNB sat at $626. Dogecoin gave back 1.0% to $0.1117 after last week's breakout, though it remains the week's standout performer with a 12.4% seven-day gain as futures open interest continues to sit at year-highs. This Week's Catalysts Two events this week carry sufficient weight to move Bitcoin meaningfully. Strategy reports Q1 earnings post-market Tuesday, with Wall Street expecting a per-share loss of $12.95 and scrutiny focused on the durability of Michael Saylor's STRC-funded capital-raising engine following April's $3.9 billion in purchases. US non-farm payrolls drop Friday with consensus at just 73,000 -- a significant miss or beat relative to that low bar could reprice Fed rate cut expectations and directly impact Bitcoin's near-term trajectory.

Information from the Hyperliquid testnet indicates that the platform is testing new event contracts, including 15-minute cryptocurrency price fluctuation markets.

OnRe Finance has successfully completed a $5 million funding round, co-led by Forward and Rockaway, to bolster its on-chain reinsurance operations on the Solana blockchain. According to NS3.AI, Forward has also announced plans to invest up to $25 million into OnRe's ONyc token, further supporting the company's growth and development in the reinsurance sector.

Key Takeaways Bitcoin has risen 19% in just over a month to above $81,000, rallying alongside oil above $100 and Bloomberg's commodity futures index hitting a decade high -- defying the traditional macro playbook that links rising inflation to Bitcoin weaknessUS spot Bitcoin ETFs have attracted $4.45 billion since March, with most inflows now viewed as directional bullish bets rather than non-directional arbitrage playsPaul Tudor Jones called Bitcoin "unequivocally the best inflation hedge there is -- more than gold," citing Bitcoin's finite supply versus gold's annual supply growth of a few percentBitget Research chief analyst Ryan Lee says gold is "no longer the default" hedge -- digital assets are "increasingly being considered alongside it, not after it"The real test of the inflation hedge thesis has not yet arrived: if Bitcoin holds or rises during an equity selloff, the narrative is confirmed; if it falls with equities, the risk asset label sticksQCP Capital notes Bitcoin's correlation with US stocks is climbing back toward 2023 levels, complicating the inflation hedge interpretation Bitcoin is trading above $81,000, having gained 19% in just over a month in a rally that is forcing a reassessment of one of the most foundational assumptions in crypto market analysis: that Bitcoin is a risk asset that suffers when inflation rises and interest rates stay high. The evidence forcing that reassessment is straightforward. Oil is hovering above $100 per barrel. Bloomberg's commodity futures index has jumped to a decade high. US consumer inflation expectations are surging. In the standard macro playbook, this combination is bearish for Bitcoin -- higher inflation means the Fed keeps rates elevated, which makes yield-bearing safe assets more attractive and reduces the incentive to hold yield-less assets like Bitcoin. That logic worked in 2022, when the Fed's aggressive rate hiking cycle was a key catalyst for that year's crypto crash. This time, Bitcoin is not following the script. The Inflation Hedge Case Is Building A growing number of analysts are attributing the divergence to a structural shift in how institutional investors are using Bitcoin -- from a speculative risk asset to an inflation hedge held alongside or instead of gold. The most direct endorsement of that view came last week from Paul Tudor Jones, one of the most respected macro traders of his generation and the man who correctly called and traded the 1987 stock market crash. "Bitcoin is, unequivocally, the best inflation hedge there is," Jones said on the Invest Like the Best podcast. "More than gold." His reasoning is structural rather than speculative. Unlike gold, whose supply expands by a few percent annually through mining, Bitcoin has a mathematically finite supply. In a world where central banks have repeatedly demonstrated willingness to expand the money supply, Jones argued the rational response is to own the asset they cannot print more of. ETF Inflows Support the Structural Shift The inflation hedge interpretation is not merely circumstantial -- it is backed by the flow data. US spot Bitcoin ETFs have attracted $4.45 billion since March, nearly reversing the massive outflows of late 2025 that weighed on the spot price. Critically, most of these inflows are now viewed as directional bullish bets rather than the once-popular non-directional cash-and-carry arbitrage trade. Ryan Lee, chief analyst at Bitget Research, said the institutional shift is visible in how hedging is being approached. "Gold is no longer the default -- digital assets are increasingly being considered alongside it, not after it," Lee said. Paul Howard, senior director at crypto liquidity provider Wincent, went further, stating that "as both an inflation hedge and a highly liquid store of value, bitcoin possesses several characteristics that could support a 3.5 times increase in price over the next three years." The Honest Caveat Analysts are not unanimous, and the more cautious voices raise a valid structural objection to the inflation hedge narrative as it currently stands. Bitfinex analysts noted in a report that "macro signals remain divided, with commodities pricing supply-side stress while risk assets continue to trade higher. This divergence highlights a growing disconnect across asset classes and raises questions about the durability of the current risk-on environment." QCP Capital offered the most pointed challenge to the inflation hedge thesis. "After a solid April, BTC has begun May on firm footing, breaking above $80,000 for the first time since January 31. The move appears aligned with equities, reinforcing a broader trend as BTC's correlation with US stocks climbing back toward 2023 levels, signaling a renewed linkage with risk assets broadly," the Singapore-based trading firm said. The QCP observation points to the core analytical problem: US equities are simultaneously on a tear, making it genuinely difficult to isolate whether Bitcoin is rising because of an inflation hedging bid or simply because it is tracking the risk-on equity environment. Both explanations fit the current data. The Real Test Has Not Yet Arrived The definitive test of the inflation hedge narrative requires a scenario that has not yet materialized: an equity market selloff occurring alongside persistent inflation. If Bitcoin holds or rises during that combination -- if it decouples from equities when stocks fall while inflation stays elevated -- the inflation hedge thesis gets confirmed in the most meaningful way possible. If Bitcoin falls alongside equities during such a scenario, the risk asset label will stick regardless of the current narrative. That test remains ahead. Until it arrives, the inflation hedge thesis is compelling, gaining institutional traction, and backed by real flow data -- but it is not yet proven.

Key Takeaways Bitcoin has climbed to $81,490 on Tuesday, extending its breakout above $80,000 as US equity futures rise with Nasdaq 100 futures up 0.5% and S&P 500 futures up 0.3%Cardano (ADA) futures open interest surged 18% to a record 2.17 billion tokens, with one of the highest CVD readings among major tokens and funding rates at a non-extreme 9% annualizedTON open interest jumped 40% to a record 200.2 million tokens with the strongest CVD among the top 30 cryptocurrencies, though slightly negative funding rates suggest spot buying combined with futures hedging rather than outright speculationBitcoin's 30-day implied volatility index BVIV jumped 5% on Monday -- the sharpest single-day increase since mid-March -- moving back above 40% from multi-month lowsThe CoinDesk DeFi Select Index is the best-performing benchmark on Tuesday, up 2.7%, with Ethena (ENA) and ONDO surging 6.8% and 3.7% respectivelyCoinMarketCap's Altcoin Season indicator has ticked up to 41/100, signaling neutral but warming sector sentiment following a multi-month downtrend Bitcoin has extended its breakout to $81,490 on Tuesday -- its highest level since late January -- as improving risk sentiment filters through both crypto and traditional markets, with investors rotating from crypto majors into more speculative altcoin plays and derivatives activity picking up across several tokens following a volatile Monday session shaped by Iran missile reports and the subsequent US denial. US equity futures are lending support, with Nasdaq 100 futures up 0.5% and S&P 500 futures adding 0.3% in pre-market trading as investors buy the dip following Monday's Strait of Hormuz-related jitters. Precious metals gold and silver also ticked higher but remain significantly below their early March speculative peaks. ADA Futures Hit Record Open Interest Cardano's ADA is showing one of the most notable derivatives setups of the session. Futures open interest has surged more than 18% to 2.17 billion tokens, surpassing the previous record set in January. Despite the scale of the buildup, positioning does not appear excessively overheated -- perpetual funding rates are running at an annualized 9%, signaling bullish sentiment without extreme leverage. ADA is also posting one of the highest cumulative volume delta readings among major tokens, indicating that buyers are driving price action through aggressive market orders rather than passive limit orders. TON Records 40% OI Surge on Telegram Announcement TON is the session's top-performing altcoin in the CoinDesk 100, rallying 8.1% since midnight UTC and 28% over the past 24 hours following Pavel Durov's announcement that Telegram will replace the TON Foundation as the driving force behind the network. Futures open interest has jumped 40% to a record 200.2 million tokens, with TON showing the strongest CVD among the top 30 cryptocurrencies. The funding rate picture is unusual -- rates remain slightly negative despite aggressive buying pressure, suggesting traders are purchasing TON in the spot market while simultaneously shorting futures to hedge their exposure rather than expressing pure directional conviction through leverage. A Caution Signal Beneath the Surface Despite Bitcoin's climb to $81,490, a broader derivatives caution signal warrants attention. The OI-adjusted 24-hour CVD is negative for Bitcoin and most major tokens -- with ADA, TON, and M as the notable exceptions. The negative reading indicates that the rally above $80,000 is not being strongly supported by aggressive derivatives buying, raising the risk that price gains could lack follow-through if spot demand weakens. Bitcoin's own open interest has risen approximately 3% to 785,000 BTC, approaching the recent record near 800,000 BTC -- a level that historically has preceded periods of elevated volatility. Derivatives activity in Ether, XRP, and Solana has been relatively muted over the past 24 hours, suggesting a selective rather than broad-based market expansion. Implied Volatility Rebounds Sharply Bitcoin's 30-day implied volatility index BVIV jumped 5% on Monday -- its sharpest single-day increase since mid-March -- moving back above 40% from multi-month lows. The rebound from suppressed volatility levels bears watching. A continued rise in implied volatility can signal growing institutional hedging demand or expectations of larger price swings, and in some historical cases has coincided with risk aversion and unwinding of recent gains. Ether's equivalent EVIV index has yet to show a similar pickup. Traditional markets are showing early hedging signals as well, with social media chatter pointing to large purchases of VIX call options -- instruments that pay off if Wall Street's fear gauge spikes, typically in response to an equity market selloff. On Deribit, risk reversals for both Bitcoin and Ether remain skewed toward puts across maturities, meaning downside protection continues to command a premium over upside exposure. Analysts interpret this less as outright bearishness and more as a structural shift in market composition -- institutions playing a larger role tend to systematically hedge downside risk or generate yield through covered call selling, producing a market that is more hedged and less euphoric than in previous crypto cycles. DeFi and Altcoins Lead the Rotation The session's clearest trend is a rotation from crypto majors into more speculative plays. The CoinDesk DeFi Select Index is the best-performing benchmark on Tuesday, up 2.7% since midnight UTC, with Ethena (ENA) surging 6.8% and ONDO gaining 3.7% -- the latter continuing its rally following the Clarity Act stablecoin yield compromise that is expected to benefit real-world asset token structures. The CoinDesk 5, weighted toward crypto majors, is the session's worst performer with just a 0.5% gain -- a reflection of capital rotating into higher-beta opportunities as broader sentiment improves. CoinMarketCap's Altcoin Season indicator has ticked up to 41 out of 100, signaling neutral but warming sentiment toward the sector following a multi-month downtrend. The reading remains well below the 75 threshold that historically signals a full altcoin season, but the directional improvement is consistent with the rotation dynamic visible in Tuesday's benchmark performance.

I remember when I visited financial institutions in Taipei 10 years ago, they were all complaining: Taiwan's GDP fell by 0.89% year-on-year in the first quarter of 2016, marking the third consecutive quarter of decline, while their salaries had not increased for many years.

Court Hearing on May 4: A Self-Inflicted Bombshell Reflects the Entire AI Era

Western Union has officially stepped into the stablecoin arena, launching its US dollar-pegged USDPT on Solana in a move that signals a major shift from traditional remittance rails to blockchain-based settlement.

BitMine has bought over 100,000 ETH for three weeks in a row, lifting its total holdings above 5.18 million ETH. The firm says Ethereum demand is rising due to tokenisation, AI use and staking income growth.

North Korea has been accused of orchestrating more than 75% of the global crypto crime in 2026, with blockchain analytics firm TRM Labs estimating that the stolen funds could reach a whopping $577 million in just the past four months.

Polygon has introduced private stablecoin payments that hide transaction details using zero-knowledge proofs while still applying compliance checks. Users can produce audit files for regulators, targeting institutional use of onchain payments with privacy and oversight.

Tether, the crypto financial giant known for its stablecoins, is extending its reach into the Bitcoin mining field.

The progress of the CLARITY Act legislation has had a direct impact on stablecoin issuers and trading platforms, with Circle's stock price surging nearly 20% intraday and USDC trading activity increasing significantly.

Bitcoin surged past $80,000, hitting a four-month high of $80,529 just hours after Donald Trump unveiled “Project Freedom”—a U.S. naval initiative to escort cargo ships through the strategically critical Strait of Hormuz amid escalating tensions with Iran.

Ben Felix, portfolio manager and chief investment officer at PWL Capital, is an evidence-based investment expert who translates academic financial research into practical decision-making that is understandable to the average person.