永恒牛市-牛市开空

Did everyone catch this wave? Making money seems as easy as breathing. The 4,000 base position is already up 10%. 400u in hand. Another happy day. ALLO hasn't broken down this round yet, but the pullback from 0.09275 has already given a warning. It rose 8.21%, so it's not without capital. The problem is after the price returned to 0.09086, the short-term price has fallen below MA5, MA10, and MA20, and the chasing buyers are starting to hesitate. Now the core issue for ALLO is not whether it can still talk about AI, but whether it can reclaim 0.0912. If it can't hold above that, today's rally will shift from a strong attack to a high-level consolidation. In the 15-minute structure, MA5 is at 0.09111, MA10 at 0.09126, and MA20 at 0.09123. The current price is below all three short-term moving averages, indicating short-term funds are not pushing higher. But it’s not a direct bearish signal either. Because ALLO pulled from 0.08271 to 0.09275, a significant move, showing that the AI narrative indeed attracted capital. Next, watch three levels: 0.0912 to reclaim for short-term recovery to continue. 0.09275 to break through, then ALLO can reopen the upper space. 0.0884 to break below, then today's momentum will cool down. ALLO's narrative is a decentralized AI network. Allora officially positions itself as a self-improving decentralized AI network, with the core goal of enabling community-built machine learning models to serve more accurate predictions and intelligent applications. This direction still has market attention, but short-term gains can’t rely solely on the word “AI.” Because the external environment is not easy. #InterestRateHikeBackOnTheTable: US Treasury yields near 19-year highs The 30-year US Treasury yield once approached 5.2%, near a 19-year high. The higher the long-term rates, the more risk assets tend to be devalued. This is not friendly for new tokens like ALLO. Funds are willing to speculate on AI, but that doesn’t mean they will chase prices unconditionally. #SpaceXFilesIPO: First disclosure of BTC holdings SpaceX disclosed holding 18,712 BTC, worth about $1.45 billion, which will continue to strengthen the narrative of traditional companies allocating crypto assets. But this news is more beneficial to the BTC mainline in the short term. For ALLO to benefit from spillover funds, the AI sector needs to stay active, not just rely on market sentiment. #HowCryptoPeopleCelebratePizzaDay Pizza Day is not just nostalgia. On May 22, 2010, Laszlo Hanyecz bought two pizzas with 10,000 BTC, considered one of Bitcoin’s earliest real-world payment cases. The logic applies to ALLO as well. No matter how hot the AI narrative is, in the end, it depends on real usage. Are the models being called? Is there demand for predictions? Is the ecosystem continuously developed? If these lag, the price will likely only have short-term fluctuations. My judgment: ALLO is currently in a high-level consolidation after a strong pull. Reclaim 0.0912, continue to watch for recovery. Break 0.09275, short-term strength returns. Break 0.0884, chasing funds will cool off. Don’t just focus on the gains now. What ALLO really needs to prove is whether AI hype can turn into sustained buying. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices fluctuate greatly, and market risks are high. Please make independent judgments and decisions based on your own risk tolerance. #InterestRateHikeBackOnTheTable: US Treasury yields near 19-year highs #SpaceXFilesIPO: First disclosure of BTC holdings #英伟达完美财报：市场为何不买账 $BTC $ETH $ZEC

Anyone here understand this? These days are really hard to endure. When will it end? CORE is no longer about whether it will rise or not, but whether the 0.036 level can be reclaimed. If it can't be reclaimed, today's 0.78% rebound is just a breath after a fall. If it is reclaimed, BTCFi will have a chance to be noticed by capital again. CORE surged to 0.03803 then fell back, hitting a low of 0.03483, now back around 0.03576. On the surface it's red, but the structure isn't that comfortable. In 15 minutes, MA5 is at 0.03551, MA10 at 0.03562, MA20 at 0.03594. Price just stood back above MA5 and MA10, but hasn't taken MA20 yet. This means short-term it’s not continuing to collapse, but it’s not a reversal either. I'm watching three levels now: 0.0360 hold steady, CORE can be considered truly starting to recover. 0.0380 breakthrough, short-term will have a taste of turning strong again. 0.03483 break, this rebound basically fails. The focus of this topic is not just CORE itself. #加息重回讨论桌：美债利率逼近19年高点 The 30-year US Treasury yield recently approached 5.2%, the highest in nearly 19 years. The higher the long-term rates, the easier it is for risk asset valuations to be suppressed. In this environment, small coins find it hard to keep rising on just one narrative. But CORE has an advantage: it talks about BTCFi. Core’s official info positions itself as Bitcoin Everything Chain, supporting non-custodial BTC staking and an EVM-compatible ecosystem, aiming to let BTC not just lie in wallets but enter on-chain yields and application scenarios. #SpaceX递交招股书：首次披露BTC持仓 SpaceX disclosed holding 18,712 BTC, worth about $1.45 billion, which will continue to strengthen the narrative of "corporate balance sheets allocating BTC." But for CORE, the key is not how much BTC SpaceX bought. The key is whether the market will move from "holding BTC" to "making BTC generate on-chain yields." If capital only buys BTC itself, CORE can only ride the sentiment. If BTCFi is revalued, CORE has a chance to gain stronger resilience. #How crypto people celebrate Pizza Day Pizza Day is not about nostalgia, but that crypto assets must have real use. Back then, 10,000 BTC for two pizzas was the starting point of BTC real payment. Now it’s BTCFi’s turn to be asked the same question: Is BTC just for hoarding, or can it enter on-chain finance? So the current judgment on CORE is clear: If it can’t get above 0.036, consider it a weak recovery first. If it breaks 0.038, BTCFi sentiment may continue to spread. If it breaks 0.03483, short-term will continue to weaken. Don’t rush to write off CORE’s takeoff now. First see if it can reclaim 0.036. Risk warning: This article is only an analysis of crypto market information and does not constitute any investment advice. Digital asset prices fluctuate greatly, and the market risk is high. Please make independent judgments and decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ETH $BSB

What happened Did a big player liquidate millions of USD overnight? Long or short? It's just that the house always wins. A brief explanation Don't rush to chase the HYPE rally this round; the short-term trend has shifted from a strong pull-up to a retracement and correction. After being pushed down from 62.67 to 56.32, the price has now rebounded to 58.76, still down 3.89% in 24 hours. This indicates there is support at the low level, but selling pressure above hasn't been fully absorbed yet. In the 15-minute structure, MA5 is at 58.30, MA10 at 58.06, and MA20 at 58.19. The current price has climbed back above all three short-term moving averages, indicating the short-term trend is not continuing to break down but is undergoing a rebound correction. However, the real key level is not 58, but 59.5–60.0. If it can't reclaim this zone, HYPE can only be seen as undergoing a weak correction for now. Only if it retakes 60 is there a chance to test 62.67 again. If it falls back below 57.5, short-term funds will turn cautious again; once 56.32 is broken, this rebound will basically fail. The fundamental core of HYPE remains Hyperliquid. It is a high-performance Layer 1 and on-chain perpetual contract trading ecosystem. The official page emphasizes a full on-chain order book, perpetual and spot trading, and an underlying architecture composed of HyperBFT consensus, HyperCore, and HyperEVM. This type of asset depends heavily on two things: First, trading volume. Second, market volatility. So, the return of interest rate hikes to the discussion table is a double-edged sword for HYPE. US Treasury yields are approaching a 19-year high, with the 30-year yield reaching 5.18% at one point, an environment that suppresses risk asset valuations. But the greater the volatility, the more active on-chain derivatives trading becomes, making HYPE's platform narrative more likely to attract capital attention. The problem is, trading heat does not necessarily mean the token price will rise. If the market undergoes panic-driven deleveraging, HYPE will also be dragged down. SpaceX filing for an IPO and disclosing BTC holdings adds positive sentiment to the market. Reports show SpaceX holds 18,712 BTC, worth about $1.45 billion, which will continue to strengthen the narrative of corporate balance sheets allocating BTC. But this line is more short-term bullish for BTC as a main asset and may not immediately spill over to HYPE. For HYPE to continue strengthening, it still depends on Hyperliquid's own transaction volume, liquidations, funding rates, and on-chain trading activity. The Pizza Day story can also be connected here. On May 22, 2010, Laszlo Hanyecz bought two pizzas with 10,000 BTC. This event later became Bitcoin Pizza Day and reminds the market that crypto ultimately must return to real use and real transactions. Applied to HYPE, the core is not holiday sentiment but whether Hyperliquid has sustained real trading demand. My judgment is: HYPE is currently in a post-drop correction, not a renewed strong attack. Only reclaiming 59.5–60 will indicate quality recovery. Breaking through 62.67 will signal a short-term return to strength. Breaking below 56.32 will invalidate the rebound. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices are highly volatile, and the market carries high risk. Please make independent judgments and decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ETH $ZEC

Oh my god Woke up overnight to find it like this Short positions got pinpoint exploded directly What can I do I'm also very desperate ETH is still in a weak recovery now; before 2137 is reclaimed, the rebound isn't strong. This round pulled from 2103.18 up to 2153, now back to 2133.64, only up 0.10% in 24 hours. Looks red, but the structure isn't strong. In 15 minutes, MA5 is at 2135.25, MA10 at 2136.67, MA20 at 2137.26. Price is below all three short moving averages, indicating bulls haven't truly regained control. Right now, I only watch two levels: 2137 reclaimed, ETH qualifies for further recovery. If 2103 breaks again, the $2000 level will immediately be targeted by the market. This time the pressure mainly comes from macro factors. Long-term US Treasury yields remain high; the 30-year Treasury yield was 5.18% the previous trading day and is currently around 5.11%, above the long-term average. In a high interest rate environment, the market will revisit rate hike discussions, making it hard for risk assets like ETH to rally easily. SpaceX filing for IPO and disclosing BTC holdings adds positive sentiment to the crypto market. Market reports show SpaceX holds 18,712 BTC, which continues to strengthen the narrative of "corporate balance sheets allocating BTC." But this line is more short-term bullish for BTC; for ETH to follow, it depends on on-chain activity, ETF funds, DeFi demand, and mainstream risk appetite warming up together. The Pizza Day story is more suitable to remind traders: the real value of crypto isn't in daily slogans but grows from real usage. On May 22, 2010, Laszlo Hanyecz bought two pizzas with 10,000 BTC, considered one of Bitcoin's earliest real-world payment cases. The same applies to ETH. If on-chain applications, stablecoins, L2, and DeFi usage don't improve significantly, relying on sentiment alone won't push prices strongly again. My judgment is straightforward: ETH is currently still in a weak recovery. 2137 is the short-term recovery line. 2158 is the rebound confirmation level. 2103 is the risk line. If 2103 breaks again, the market will directly start trading the $2000 support. Risk warning: This article is only an analysis of the crypto market information and does not constitute any investment advice. Digital asset prices fluctuate greatly, and market risks are high. Please make independent judgments and decisions cautiously based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ZEC $HYPE

Altcoin bull market is coming Explosive surge broke the defense Wake up quickly Is this possible? But small coins can be tried Small positions to exchange for a future For AIXBT, this round first watch for a high-level pullback; if 0.0320 is not retaken, no rush to write off further advances. Price pulled from 0.03027 to 0.03255, now back to 0.03187, with a 24-hour increase of 1.72%. The increase remains, but the short-term has shifted from active rally to pullback confirmation. In the 15-minute structure, MA5 is at 0.03196, MA10 at 0.03216, MA20 at 0.03204. The current price has fallen below all three short-term moving averages, indicating cooling of chasing funds. Next focus is on 0.0320—0.0322. Only by retaking this range can AIXBT retest 0.03255. If it continues to stay below 0.032, the price will likely oscillate around 0.0312—0.0315. If 0.03027 is broken downward, this round of recovery structure needs to be reassessed. AIXBT's core narrative is AI crypto market intelligence. The project website emphasizes real-time analysis of social signals, on-chain data, and market momentum; the related whitepaper also mentions AIXBT Terminal providing AI narrative analysis, trend tracking, smart money, and whale flow analysis. This narrative aligns with the current market environment, but short-term does not equal mindless bullishness. Interest rate hikes are back on the discussion table, U.S. long-term Treasury yields near 19-year highs, with 30-year yields once close to 5.2%. High interest rate environments compress risk asset valuations, making small-cap AI coins more prone to early profit-taking. SpaceX filing IPO documents and disclosing BTC holdings adds positive sentiment to the crypto market. Reports show SpaceX holds 18,712 BTC, valued at about $1.45 billion. This strengthens the narrative of corporate balance sheets allocating BTC, but short-term benefits are more direct to the BTC mainline and may not immediately spill over to AIXBT. The Pizza Day narrative is suitable to remind the market: the earliest value consensus in crypto started from real use. On May 22, 2010, Laszlo Hanyecz exchanged 10,000 BTC for two pizzas, which is considered the origin of Bitcoin Pizza Day. Applied to AIXBT, the question is the same: AI narratives are hot, but ultimately it depends on whether the product has real use, whether the data has value, and whether users are willing to pay for terminals and intelligence. My judgment is: AIXBT is currently weak in pullback, not a trend breakdown. Retaking 0.0320 is needed for quality recovery. Breaking through 0.03255 means short-term strength returns. Breaking below 0.03027 invalidates the recovery structure. Now, don’t just look at the word “AI,” first see if funds can retake 0.032. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices fluctuate greatly, and market risks are high. Please make independent judgments and cautious decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ETH $ZEC

BTC crashes Altcoin bull market is coming One pizza equals one BTC? Wake up Are you crazy? BTC can still push to 78,000 this round, but don’t call it a breakout before it holds above that level. Price pulled from 76,688.2 up to 78,056.0, now back to 77,694.2, a 24-hour increase of 0.60%. This shows there is still support at the low level, but buyers above are not aggressive enough. In the 15-minute structure, MA5 is at 77,701.3, MA10 at 77,682.1, MA20 at 77,673.0. The current price is basically hugging these three short-term moving averages, indicating BTC is not weak, but hasn’t accelerated again yet. The key levels now are simple: Hold 77,600, expect continued strong consolidation. Break 78,056, then there’s a chance to push to 78,161 again. Break below 77,300, short-term recovery will weaken. If 76,688 breaks again, this rebound is basically invalid. Macro factors are still weighing on the market. The 30-year US Treasury yield rose to 5.18%, the highest since 2007, and the interest rate swap market has started repricing the risk of "Fed possibly raising rates next." In a high interest rate environment, BTC is hard to sustain a rally based on sentiment alone. SpaceX filing for IPO and disclosing BTC holdings adds medium to long-term positive sentiment for BTC. Related documents show SpaceX holds 18,712 BTC at a cost of about $35,000 each. This strengthens the narrative of "corporate balance sheet allocation to BTC," but it’s not an immediate buying force to pump the price. NVIDIA’s earnings report also taught the market a lesson. Revenue of $81.6 billion, up 85% year-over-year, very strong data; data center revenue $75.2 billion, up 92%. But the market didn’t blindly chase, indicating funds are now more focused on valuation, expectations, and future growth rather than just good news. So the core for BTC now is not whether there is good news, but whether funds dare to keep adding to risk assets. My judgment: BTC is currently in a strong consolidation phase, no new space opened yet. Only if 78,000 holds firmly will there be confidence to continue pushing up. Breaking 78,161 will clearly strengthen short-term sentiment. Breaking 77,300 will return to weak consolidation. Don’t rush to call a one-sided rally now; first see if 78,000 can truly hold. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices fluctuate greatly, and market risks are high. Please make independent judgments and decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #加密人怎么过披萨节 $HYPE $ETH $ZEC

OKB fell below 80 The market outlook is bullish But Don't rush to talk about a rebound before it climbs back above 80.6. The price dropped from 81.44 to 79.68, now back to 80.31, down 0.88% in 24 hours. This isn't a big drop, but the trend is clear: lower highs, moving averages pressing down hard, and rebound strength is insufficient. On the 15-minute chart, MA5 is at 80.41, MA10 at 80.44, MA20 at 80.59. The current price is below all these short-term moving averages, indicating that the bulls haven't regained control yet. The key level now is 80.6. Only by climbing back above this can OKB retest the 81.0 to 81.44 range. If it stays below 80.6, the price will likely oscillate between 80.0 and 80.4. If 79.68 breaks again, the short-term outlook will weaken further. The long-term logic for OKB remains intact, centered on the OKX platform ecosystem, X Layer, Gas usage, and the scarcity of the platform token. OKX previously announced that OKB will continue as the sole Gas and native token for X Layer; after the upgrade, the total supply of OKB is fixed at 21 million, which supports long-term valuation. However, the short-term market doesn't respond to long-term narratives. The main pressure on OKB now comes from the macro environment and market risk appetite. #加息重回讨论桌：美债利率逼近19年高点 The 30-year US Treasury yield recently rose to about 5.15%, the highest since 2007. Rising long-term rates suppress risk asset valuations. Under these conditions, platform tokens can't fully decouple from the broader market. If BTC and ETH continue to fall, OKB will struggle to rally on ecosystem stories alone. #SpaceX递交招股书：首次披露BTC持仓 SpaceX disclosed BTC holdings, which is a positive sentiment boost for the crypto market. Reports say SpaceX holds 18,712 BTC, worth about $1.45 billion. This reinforces the narrative of companies putting BTC on their balance sheets, but in the short term, the main benefit is for BTC itself. For OKB to benefit, exchange trading volume, platform activity, and market risk appetite all need to improve together. #英伟达完美财报：市场为何不买账 Nvidia's earnings were strong, with Q1 revenue at $81.6 billion, up 85% year-over-year, but the market reaction was muted, indicating investors are starting to scrutinize valuations and growth prospects. If even AI leaders' good news is met with skepticism, short-term valuations for platform assets like OKB will also be pressured. My judgment is: OKB is currently in a weak consolidation phase. Only by reclaiming 80.6 is there a chance for recovery; breaking above 81.44 would signal short-term strength; falling below 79.68 would mean further weakness. So don't rush to call for an OKB rebound yet; first, see if the bulls can retake 80.6. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices are highly volatile, and market risks are high. Please make independent judgments and decisions based on your own risk tolerance. $BTC $ETH $ZEC

The May black swan is coming, The most dangerous level for ETH in this round is not 2100, but rather 2000 USD might be breached. From 2158 down to 2103, ETH is now just struggling near the lows, the rebound has not reclaimed the short-term moving averages. If 2103 breaks again, the market will most likely shift its focus directly to 2080–2050, and further down is the psychological barrier at 2000. ETH's 24-hour decline is currently 1.30%, with a high of 2158.07 and a low of 2103.18. In the 15-minute structure, MA5 is at 2113.19, MA10 at 2113.71, and MA20 at 2118.64. All prices are below the short-term moving averages, indicating that capital has not truly returned. This is not a strong rebound, nor a normal consolidation. This is a weak recovery after a breakdown. There are only three critical levels now: If 2118 is not reclaimed, ETH remains weak. If 2103 breaks again, 2000 will be repriced. If 2150 is not broken, don’t rush to call a reversal. This pressure is not only from ETH itself. #加息重回讨论桌：美债利率逼近19年高点 Long-term US Treasury yields remain high, and the market is starting to reconsider the possibility of rate hikes, which is very unfavorable for ETH. ETH is not a pure safe-haven asset; it relies more on liquidity, DeFi activity, L2 transaction volume, and risk appetite. When money becomes expensive, the market’s first reaction is not to buy ETH but to cut high-volatility assets first. #SpaceX递交招股书：首次披露BTC持仓 SpaceX disclosed BTC holdings, which adds positive sentiment to the crypto market, but more beneficial is the BTC balance sheet narrative. For ETH to keep up, it needs its own capital inflow signals. For example, ETF net inflows, on-chain revenue recovery, increased staking demand, or renewed DeFi activity. These signals are not strong enough yet. #英伟达完美财报：市场为何不买账 Nvidia’s earnings report is strong, but the market did not blindly chase. This shows that capital is starting to focus on valuation, not just the story. If even the AI leader’s positive news is being realized, risk assets like ETH are more likely to be dragged down. My judgment is straightforward: ETH remains weak in the short term; 2103 is the first critical lifeline. If it can’t hold here, the price will most likely continue to seek support at 2080–2050. If market sentiment worsens, the probability of testing 2000 USD will significantly increase. Only by reclaiming 2118 and then breaking through 2150 can ETH rewrite this downtrend as a recovery. Otherwise, this macro black swan in May could directly push ETH down to the low 2000s. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices are highly volatile, and the market carries high risk. Please make independent judgments and decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ZEC $HYPE

Will it rise or fall tonight? Every May brings a black swan! Look BTC is showing weak short-term volatility in this round; it hasn't reclaimed 77,500 yet, so the rebound is considered a correction. After falling from 78,161.5 to 77,045.7, BTC is now around 77,313.5, down slightly by 0.14% in 24 hours. This indicates selling pressure near 78,000 remains, and short-term funds are not chasing higher. In the 15-minute structure, MA5 is at 77,207.4, MA10 at 77,219.5, and MA20 at 77,464.6. Although the price has reclaimed MA5 and MA10, it is still below MA20. So this is not a shift to strength, just a rebound after a drop. Key levels are clear: Only if BTC reclaims 77,500 can it retest 77,800–78,161. Holding 77,000 means short-term sideways movement is possible. Breaking 76,858 means this correction will turn weak again. The biggest pressure in this theme remains interest rates. The 30-year US Treasury yield has risen to 5.18%, the highest since 2007; continued rise in long-term rates will directly suppress valuations of risk assets like BTC. So BTC doesn’t lack positive factors now, but the macro environment is unfavorable. With rate hikes back on the table, funds will be more cautious. SpaceX filing for IPO and disclosing BTC holdings is a positive sentiment factor for BTC. Market reports mention that SpaceX’s IPO documents may reveal its BTC holdings publicly for the first time, reinforcing the narrative of "corporate balance sheets allocating BTC." But this positive is more medium to long term and insufficient to immediately change the 15-minute level trend. Nvidia’s earnings report is also critical. Nvidia’s revenue grew 85% year-over-year to $81.62 billion, a strong performance, but the after-hours market reaction was hesitant, indicating funds don’t distrust AI but are concerned about valuation and whether future growth can continue to exceed expectations. If AI leaders continue to attract capital, BTC may just follow the risk appetite recovery. If AI benefits are realized and funds flow back into crypto, BTC will more easily challenge above 78,000 again. My judgment: BTC is currently in a weak correction phase. 77,500 is the confirmation of recovery. 78,161 is the confirmation of a breakout. 76,858 is the invalidation level. Before reclaiming 77,500, BTC is not suitable to be described as a strong counterattack. Risk warning: This article is for crypto market information analysis only and does not constitute any investment advice. Digital asset prices are highly volatile, and market risks are high. Please make independent judgments and decisions based on your own risk tolerance. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $ETH $ZEC $HYPE

Interest Rate Hike Back on the Table: US Treasury Yields Near 19-Year High; SpaceX Files IPO Prospectus: BTC Holdings Disclosed for the First Time; Nvidia's Perfect Earnings Report: Why the Market Isn't Buying It Market Dynamics Recently, the global financial markets have been turbulent, with several major events drawing attention. US Treasury yields are approaching 19-year highs, reigniting concerns over inflationary pressures; SpaceX has filed its IPO prospectus, disclosing BTC holdings for the first time, sparking industry interest in its crypto asset strategy; Nvidia reported a stellar earnings report, exceeding expectations but facing a stock price pullback, with underlying reasons that are intriguing. Event Details US Treasury Yields Near 19-Year High Recently, major developed economies' bond markets have experienced heavy sell-offs, with core government bond yields in the US, Japan, and UK surging collectively. The 10-year US Treasury yield quickly broke above 4.6%, reaching a one-year high, while the 30-year yield climbed to a near 19-year peak. The main driver behind rising yields is market concern over a potential Iran war triggering oil price spikes, which could ignite a new round of global inflationary pressures. Expectations are also rising that the Federal Reserve and other central banks may continue raising rates due to sustained energy shocks. SpaceX Files IPO Prospectus, Discloses BTC Holdings for the First Time According to Reuters citing insiders, Elon Musk's SpaceX has accelerated its IPO timeline and plans to publicly release its prospectus as early as this week, with roadshows starting June 4 and a potential Nasdaq listing on June 12 under the ticker SPCX, targeting approximately $75 billion in fundraising. In May, the company revised its credit arrangements, increasing borrowing capacity to up to $5 billion. The IPO underwriters include Goldman Sachs, Morgan Stanley, Bank of America Securities, Citigroup, and JPMorgan. The prospectus also reveals SpaceX's BTC holdings for the first time, drawing widespread industry attention to its crypto asset portfolio. Musk's shares will only unlock upon achieving a Mars settlement population of at least one million and establishing a permanent human colony on Mars, reflecting the company's vision for multi-planetary human survival. Nvidia's Perfect Earnings Report, Yet Stock Pulls Back On May 20 after US market close, Nvidia released its Q1 FY2027 earnings report. The report showed EPS of $1.87 and revenue of $81.62 billion, surpassing analyst expectations of $1.77 EPS and $79.18 billion revenue. The company also raised its quarterly dividend to $0.25 per share. Nvidia's data center business contributed the majority of revenue at $75.2 billion, beating Wall Street estimates of $73.47 billion and far exceeding last year's $39.11 billion. For Q2, Nvidia expects revenue between $89.1 billion and $92.8 billion, above the prior Wall Street forecast of $87.3 billion. However, despite beating expectations, the stock remained flat and pulled back in after-hours trading, prompting various market speculations. Market Reactions Stock Market Performance On May 18 Beijing time, Japanese and South Korean markets opened lower. The Nikkei 225 opened down 0.18% at 61,299.87; South Korea's KOSPI opened down 0.67% at 7,443.29. Last week, the three major US indices showed mixed results: Dow Jones down 0.17% weekly, Nasdaq down 0.08%, and S&P 500 up 0.13%. European markets closed lower last week: UK FTSE 100 down 0.37%, France CAC 40 down 1.97%, Germany DAX down 1.59%. On May 19 US market close: Dow Jones down 0.65%, S&P 500 down 0.67%, Nasdaq down 0.84%. On Wednesday, May 21, Nvidia led US market volume with a 1.30% gain and $35.079 billion in trading volume. Bond Market Performance Global bond markets have been volatile recently, with major developed economies facing heavy sell-offs and core government bond yields in the US, Japan, and UK surging collectively. The US 10-year Treasury yield hovered near a 15-month high, with European and Asian bond yields also climbing to multi-year highs. When risk aversion and inflation fears subside, US Treasury yields tend to retreat from highs, as seen in a roughly 10 basis point drop in the 10-year yield previously. Forex and Commodities Market Performance Prospects of a US-Iran agreement have driven volatility in forex and commodity markets. Expectations of peace talks caused the dollar to retreat from a six-week high, while non-US currencies like the euro, pound, and yen collectively rebounded; easing tensions triggered a sharp drop in crude oil prices, with Brent and US crude both plunging, US crude falling below $100; the oil price collapse eased inflation concerns, and combined with a plunge in US Treasury yields, spot gold rose over 1% against the trend. These complex market reactions intertwine with US Treasury yields, SpaceX's IPO, and Nvidia's earnings report, leaving future market trends uncertain. Investors should closely monitor developments and prepare for risk management. #加息重回讨论桌：美债利率逼近19年高点 #SpaceX递交招股书：首次披露BTC持仓 #英伟达完美财报：市场为何不买账 $BTC $ETH $ZEC