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On May 12, Matt Mena from 21shares stated that despite the CPI report being hotter than expected, Bitcoin remains strong above the $80,000 mark, indicating that there is further upside potential for its price. "Bitcoin did not decline due to this data, which arguably says more than the data itself — the market was prepared for the overheating data, absorbed it, and still maintained above the $80,000 support level," Mena said. "As these macro headwinds are cleared, we may eventually see Bitcoin retest the $82,000 resistance level and push towards $85,000." Mena added that the Senate vote on the CLARITY Act could also serve as a catalyst for an impending price surge, potentially reaching as high as $90,000. Bitcoin fell 1.4% to $80,682.

[Report: Bitcoin Has Further Upside Potential]On May 12, Matt Mena from 21shares stated that despite the CPI report being hotter than expected, Bitcoin remains strong above the $80,000 mark, indicating that there is further upside potential for its price. "Bitcoin did not decline due to this data, which arguably says more than the data itself — the market was prepared for the overheating data, absorbed it, and still maintained above the $80,000 support level," Mena said. "As these macro headwinds are cleared, we may eventually see Bitcoin retest the $82,000 resistance level and push towards $85,000." Mena added that the Senate vote on the CLARITY Act could also serve as a catalyst for an impending price surge, potentially reaching as high as $90,000. Bitcoin fell 1.4% to $80,682.

Report: Bitcoin Has Further Upside Potential

On May 12, U.S. Senator Cynthia Lummis stated that after nearly a year of bipartisan cooperation, the U.S. Digital Asset Market Structure Act (CLARITY Act) is set to enter the committee review stage this week, bringing the U.S. closer to 'consolidating its global leadership in financial innovation.' Lummis remarked, 'Wyoming has been at the forefront of exploration, and now Washington is following suit.' Previously, Republican members of the Senate Banking Committee announced that Committee Chairman Tim Scott, Lummis, and Thom Tillis have jointly released the text of the market structure bill. According to the statement, the bill aims to establish a clear regulatory framework for the digital asset industry, protect investors, combat illegal financial activities, and encourage innovation to remain in the U.S.

[Senator Cynthia Lummis: CLARITY Act to Strengthen U.S. Leadership in Financial Innovation]On May 12, U.S. Senator Cynthia Lummis stated that after nearly a year of bipartisan cooperation, the U.S. Digital Asset Market Structure Act (CLARITY Act) is set to enter the committee review stage this week, bringing the U.S. closer to 'consolidating its global leadership in financial innovation.' Lummis remarked, 'Wyoming has been at the forefront of exploration, and now Washington is following suit.' Previously, Republican members of the Senate Banking Committee announced that Committee Chairman Tim Scott, Lummis, and Thom Tillis have jointly released the text of the market structure bill. According to the statement, the bill aims to establish a clear regulatory framework for the digital asset industry, protect investors, combat illegal financial activities, and encourage innovation to remain in the U.S.

Senator Cynthia Lummis: CLARITY Act to Strengthen U.S. Leadership in Financial Innovation

On May 12, copper prices broke through $14,000 per ton, nearing historical highs, as a rebound in Asian demand and rising supply risks outweighed concerns about the impact of the Iran war on global economic growth. The London Metal Exchange copper price rose by 0.6% at one point, reaching $14,025 per ton, close to the historical high of $14,500 per ton set in January. Driven by a rebound in Asian demand and tight sulfur supplies in the Middle East (which pose a threat to some copper production), copper, as a market bellwether, has seen a strong increase recently. Additionally, with a surge in technology stocks, copper prices have become highly correlated with the U.S. stock market. In recent weeks, the factors driving copper price increases have been sufficient to offset concerns about the threats posed by the Middle East conflict to the global industrial economy.

[Copper Price Surpasses $14,000, Approaching Historical Highs]On May 12, copper prices broke through $14,000 per ton, nearing historical highs, as a rebound in Asian demand and rising supply risks outweighed concerns about the impact of the Iran war on global economic growth. The London Metal Exchange copper price rose by 0.6% at one point, reaching $14,025 per ton, close to the historical high of $14,500 per ton set in January. Driven by a rebound in Asian demand and tight sulfur supplies in the Middle East (which pose a threat to some copper production), copper, as a market bellwether, has seen a strong increase recently. Additionally, with a surge in technology stocks, copper prices have become highly correlated with the U.S. stock market. In recent weeks, the factors driving copper price increases have been sufficient to offset concerns about the threats posed by the Middle East conflict to the global industrial economy.

Copper Price Surpasses $14,000, Approaching Historical Highs

On May 12, Federal Reserve's Goolsbee stated that, compared to energy prices heavily influenced by geopolitical factors, the Fed is currently more focused on whether rising service sector prices reflect overheating in domestic demand in the U.S. Goolsbee indicated that if service sector inflation continues to rise and evolves into 'endogenous inflation,' the Fed must consider taking measures to 'break the escalating inflation chain.' The U.S. Consumer Price Index (CPI) in April rose 3.8% year-on-year, marking a new high for 2023. Although gasoline prices have increased by about 28% over the past two months, becoming a significant factor driving overall inflation, Goolsbee believes that even excluding energy and tariff factors, price pressures are still expanding. Data shows that in April, core service costs in the U.S., excluding energy and housing, rose 0.5% month-on-month, with hotel prices experiencing the largest increase since 2024, and airfare prices rising 2.8% month-on-month due to fuel surcharges and decreased capacity. Meanwhile, the inflation-adjusted average hourly wage in the U.S. fell 0.3% year-on-year in April, marking the first negative change in nearly three years, indicating that income growth for residents has begun to lag behind price increases. On the policy front, the Fed has maintained interest rates above 5% for several months. As inflation continues to exceed the 2% target, market expectations for interest rate cuts in 2026 have significantly cooled, leading to a recent rise in U.S. Treasury yields. Goolsbee emphasized that the current key task is to 'cut the inflation spiral,' and the upcoming PPI and PCE data will serve as important indicators for assessing whether the U.S. economy is experiencing sustained overheating.

[Fed's Goolsbee: Service Sector Inflation May Indicate Economic Overheating, Caution Needed Against 'Inflation Spiral']On May 12, Federal Reserve's Goolsbee stated that, compared to energy prices heavily influenced by geopolitical factors, the Fed is currently more focused on whether rising service sector prices reflect overheating in domestic demand in the U.S. Goolsbee indicated that if service sector inflation continues to rise and evolves into 'endogenous inflation,' the Fed must consider taking measures to 'break the escalating inflation chain.' The U.S. Consumer Price Index (CPI) in April rose 3.8% year-on-year, marking a new high for 2023. Although gasoline prices have increased by about 28% over the past two months, becoming a significant factor driving overall inflation, Goolsbee believes that even excluding energy and tariff factors, price pressures are still expanding. Data shows that in April, core service costs in the U.S., excluding energy and housing, rose 0.5% month-on-month, with hotel prices experiencing the largest increase since 2024, and airfare prices rising 2.8% month-on-month due to fuel surcharges and decreased capacity. Meanwhile, the inflation-adjusted average hourly wage in the U.S. fell 0.3% year-on-year in April, marking the first negative change in nearly three years, indicating that income growth for residents has begun to lag behind price increases. On the policy front, the Fed has maintained interest rates above 5% for several months. As inflation continues to exceed the 2% target, market expectations for interest rate cuts in 2026 have significantly cooled, leading to a recent rise in U.S. Treasury yields. Goolsbee emphasized that the current key task is to 'cut the inflation spiral,' and the upcoming PPI and PCE data will serve as important indicators for assessing whether the U.S. economy is experiencing sustained overheating.

Fed's Goolsbee: Service Sector Inflation May Indicate Economic Overheating, Caution Needed Against 'Inflation Spiral'

On May 12, President Trump stated that there is no rush to resolve the conflict with Iran. In an interview, Trump mentioned that Iran is facing a situation where its sources of income are being cut off. He also expressed confidence in his ability to prevent Iran from developing nuclear weapons, stating, 'It's just a matter of time.'

[Trump: Stopping Iran from Developing Nuclear Weapons is 'Just a Matter of Time']On May 12, President Trump stated that there is no rush to resolve the conflict with Iran. In an interview, Trump mentioned that Iran is facing a situation where its sources of income are being cut off. He also expressed confidence in his ability to prevent Iran from developing nuclear weapons, stating, 'It's just a matter of time.'

Trump: Stopping Iran from Developing Nuclear Weapons is 'Just a Matter of Time'

On May 12, CoinDesk reported that wallet provider Exodus Movement (EXOD) has cumulatively sold approximately $73.2 million in crypto assets, including a reduction of 1,076 Bitcoins, representing a decrease of about 63%, leaving only 628 BTC. The fair value of its assets dropped from $149.2 million to $42.8 million. During the same period, it added 5,068 SOL, increasing its total holdings to 17,541 SOL. The company stated that the related cash-out was primarily used for the acquisition of the W3C payment business and to pay off maturing obligations, converting over $70 million into dollar reserves, which raised its cash, cash equivalents, and stablecoin balance from $5.2 million to $7.44 million. Due to the impairment and disposal of crypto assets, Exodus's revenue in the first quarter fell by 36.8% year-on-year to $22.7 million, while its net loss widened to $32.1 million.

[Exodus Sells Over 1,000 Bitcoins to Fund Payment Business Acquisition]On May 12, CoinDesk reported that wallet provider Exodus Movement (EXOD) has cumulatively sold approximately $73.2 million in crypto assets, including a reduction of 1,076 Bitcoins, representing a decrease of about 63%, leaving only 628 BTC. The fair value of its assets dropped from $149.2 million to $42.8 million. During the same period, it added 5,068 SOL, increasing its total holdings to 17,541 SOL. The company stated that the related cash-out was primarily used for the acquisition of the W3C payment business and to pay off maturing obligations, converting over $70 million into dollar reserves, which raised its cash, cash equivalents, and stablecoin balance from $5.2 million to $7.44 million. Due to the impairment and disposal of crypto assets, Exodus's revenue in the first quarter fell by 36.8% year-on-year to $22.7 million, while its net loss widened to $32.1 million.

Exodus Sells Over 1,000 Bitcoins to Fund Payment Business Acquisition

On May 12, officials from the U.S. Department of Defense stated that the cost of the conflict between the U.S. and Iran has increased by an additional $4 billion over the past two weeks, bringing the total to approximately $29 billion. Jay Hurst, the Department's auditor, testified at a congressional hearing on Tuesday that the rise in costs is primarily due to 'updates in equipment repair and replacement costs, as well as an increase in overall operational expenditures.' Previously, Hurst had informed Congress at the end of April that the total cost of the war was around $25 billion. Reports indicate that while the Pentagon's current public estimate stands at $29 billion, some external organizations believe that when accounting for long-term military deployments, impacts on energy markets, and macroeconomic effects, the overall economic cost of this conflict could approach $200 billion.

[U.S. Defense Department: Iran War Costs Rise to $29 Billion, Some Estimates Suggest Actual Cost Could Approach $200 Billion]On May 12, officials from the U.S. Department of Defense stated that the cost of the conflict between the U.S. and Iran has increased by an additional $4 billion over the past two weeks, bringing the total to approximately $29 billion. Jay Hurst, the Department's auditor, testified at a congressional hearing on Tuesday that the rise in costs is primarily due to 'updates in equipment repair and replacement costs, as well as an increase in overall operational expenditures.' Previously, Hurst had informed Congress at the end of April that the total cost of the war was around $25 billion. Reports indicate that while the Pentagon's current public estimate stands at $29 billion, some external organizations believe that when accounting for long-term military deployments, impacts on energy markets, and macroeconomic effects, the overall economic cost of this conflict could approach $200 billion.

U.S. Defense Department: Iran War Costs Rise to $29 Billion, Some Estimates Suggest Actual Cost Could Approach $200 Billion

On May 12, technology industry analyst Tim Bajarin reflected on Intel's strategies during past economic crises, stating that the company's continued investment in R&D during downturns was a key reason for its subsequent return to growth. The article noted that during the 2008 global financial crisis, then-CEO Paul Otellini did not cut the R&D budget due to the recession; instead, he chose to 'double down' on the development of next-generation products. He believed that regardless of the severity of the crisis, the economy would eventually recover, and Intel needed to be prepared with products that would align with the next growth cycle. Subsequently, between 2010 and 2012, as the smartphone, social media, and gaming industries exploded, the demand for high-performance chips surged, allowing Intel to successfully benefit from this technology expansion cycle. The article also pointed out that despite current global pressures such as rising energy prices, geopolitical tensions, and increasing living costs, since the AI boom triggered by ChatGPT in 2023, artificial intelligence has become a significant engine driving a new wave of technology investment. The author argues that historical experience shows that companies capable of navigating economic cycles are often not those that cut the most costs during downturns, but those that continue to invest in the future during uncertain times.

[Intel's Former CEO Strategy Revisited: 'Increase R&D' During Economic Downturns Instead of Cutting Back]On May 12, technology industry analyst Tim Bajarin reflected on Intel's strategies during past economic crises, stating that the company's continued investment in R&D during downturns was a key reason for its subsequent return to growth. The article noted that during the 2008 global financial crisis, then-CEO Paul Otellini did not cut the R&D budget due to the recession; instead, he chose to 'double down' on the development of next-generation products. He believed that regardless of the severity of the crisis, the economy would eventually recover, and Intel needed to be prepared with products that would align with the next growth cycle. Subsequently, between 2010 and 2012, as the smartphone, social media, and gaming industries exploded, the demand for high-performance chips surged, allowing Intel to successfully benefit from this technology expansion cycle. The article also pointed out that despite current global pressures such as rising energy prices, geopolitical tensions, and increasing living costs, since the AI boom triggered by ChatGPT in 2023, artificial intelligence has become a significant engine driving a new wave of technology investment. The author argues that historical experience shows that companies capable of navigating economic cycles are often not those that cut the most costs during downturns, but those that continue to invest in the future during uncertain times.

Intel's Former CEO Strategy Revisited: 'Increase R&D' During Economic Downturns Instead of Cutting Back

On May 12, AI cybersecurity startup Depthfirst announced that its self-developed AI vulnerability detection model has identified several high-risk security vulnerabilities overlooked by Anthropic Mythos, claiming that the overall cost is only one-tenth of the latter. Depthfirst CEO Qasim Mithani stated that by optimizing the model architecture for a single task, they can achieve "work that would cost $10,000 with Mythos for just $1,000." Depthfirst also launched a new initiative called the "Open Defense Initiative," which will provide a total of $5 million in funding to open its AI vulnerability detection tools to businesses and open-source developers for identifying code security issues. The article mentions that one critical vulnerability discovered by Depthfirst exists in NGINX, the most widely used web server globally, which has been present since 2008 and could theoretically affect a large number of websites worldwide. F5 Networks, which maintains NGINX, is expected to release a patch this week. Additionally, Depthfirst revealed that it has found high-risk vulnerabilities in Linux systems that could be used for remote execution of malicious code, which have not yet been patched. Its model has also identified several security issues in the Google Chrome browser and the open-source multimedia framework FFmpeg, with the Chrome-related vulnerabilities already fixed by Google. The report indicates that as AI accelerates vulnerability discovery capabilities, the cybersecurity industry is entering a phase of "simultaneous AI-driven offense and defense." Previously, Anthropic disclosed that its Claude model was used by Chinese hacker groups for cyberattacks, and Google warned this week that criminal groups have begun using AI to develop "zero-day exploit" attack tools.

[AI Security Company Depthfirst Discovers Multiple Critical Internet Vulnerabilities, Claims Cost is Only One-Tenth of Anthropic Mythos]On May 12, AI cybersecurity startup Depthfirst announced that its self-developed AI vulnerability detection model has identified several high-risk security vulnerabilities overlooked by Anthropic Mythos, claiming that the overall cost is only one-tenth of the latter. Depthfirst CEO Qasim Mithani stated that by optimizing the model architecture for a single task, they can achieve "work that would cost $10,000 with Mythos for just $1,000." Depthfirst also launched a new initiative called the "Open Defense Initiative," which will provide a total of $5 million in funding to open its AI vulnerability detection tools to businesses and open-source developers for identifying code security issues. The article mentions that one critical vulnerability discovered by Depthfirst exists in NGINX, the most widely used web server globally, which has been present since 2008 and could theoretically affect a large number of websites worldwide. F5 Networks, which maintains NGINX, is expected to release a patch this week. Additionally, Depthfirst revealed that it has found high-risk vulnerabilities in Linux systems that could be used for remote execution of malicious code, which have not yet been patched. Its model has also identified several security issues in the Google Chrome browser and the open-source multimedia framework FFmpeg, with the Chrome-related vulnerabilities already fixed by Google. The report indicates that as AI accelerates vulnerability discovery capabilities, the cybersecurity industry is entering a phase of "simultaneous AI-driven offense and defense." Previously, Anthropic disclosed that its Claude model was used by Chinese hacker groups for cyberattacks, and Google warned this week that criminal groups have begun using AI to develop "zero-day exploit" attack tools.

AI Security Company Depthfirst Discovers Multiple Critical Internet Vulnerabilities, Claims Cost is Only One-Tenth of Anthropic Mythos

BTC is currently trading at 19729.35 USDT on Huobi Global, with a 24h increase of -1.73%.
1. The total value of the global digital currency market is $938.85 B (+0.95 %), and the 24h trading volume is $101.62 B (+17.51 %).
2. The prices of the major Altcoins are as follows: 
ETH 1054.62 USDT (-3.58%), HT 4.8072 USDT (-2.74%), XRP 0.32191 USDT (-1.18%), LTC 53.55 USDT (0.73%), DOT 6.8543 USDT (-0.97%). 
3. In 24h,the top 3 gainers are:
RADAR（+60.29 %）、MU（+55.09 %）、WE（+32.44 %）; 
the top 3 losers are:
AMP（-23.64 %）、EGS（-20.36 %）、KOI（-17.85 %）. 
(Note: All rises and falls are calculated in 24h time format)
Go to Huobi Global and click 'Markets' to learn more about market information.

[Huobi Global Markets]BTC is currently trading at 19729.35 USDT on Huobi Global, with a 24h increase of -1.73%.
1. The total value of the global digital currency market is $938.85 B (+0.95 %), and the 24h trading volume is $101.62 B (+17.51 %).
2. The prices of the major Altcoins are as follows: 
ETH 1054.62 USDT (-3.58%), HT 4.8072 USDT (-2.74%), XRP 0.32191 USDT (-1.18%), LTC 53.55 USDT (0.73%), DOT 6.8543 USDT (-0.97%). 
3. In 24h,the top 3 gainers are:
RADAR（+60.29 %）、MU（+55.09 %）、WE（+32.44 %）; 
the top 3 losers are:
AMP（-23.64 %）、EGS（-20.36 %）、KOI（-17.85 %）. 
(Note: All rises and falls are calculated in 24h time format)
Go to Huobi Global and click 'Markets' to learn more about market information.

Huobi Global Markets

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Huobi Global Markets

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