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On May 31, Bitcoin fluctuated around $73,500 over the weekend. If the current level remains unchanged, Bitcoin will record a monthly decline of about 3% for May. Next week, U.S. labor market data will be a significant variable affecting risk assets, including the ISM Manufacturing PMI, ADP employment data, and the non-farm payroll report. Andre Dragosch, Head of Research at Bitwise Europe, stated that if Bitcoin continues to trade in line with economic growth and risk appetite logic, it should be repriced higher from the current level. Trader Rekt Capital noted that $73,000 is the current key support level. If Bitcoin closes above this level on a weekly basis, it will be more favorable for confirming a double bottom breakout pattern and sustaining the subsequent upward trend.

[Analyst: Key Support Level for Bitcoin at $73,000, Weekly Close Above Could Confirm Double Bottom Breakout]On May 31, Bitcoin fluctuated around $73,500 over the weekend. If the current level remains unchanged, Bitcoin will record a monthly decline of about 3% for May. Next week, U.S. labor market data will be a significant variable affecting risk assets, including the ISM Manufacturing PMI, ADP employment data, and the non-farm payroll report. Andre Dragosch, Head of Research at Bitwise Europe, stated that if Bitcoin continues to trade in line with economic growth and risk appetite logic, it should be repriced higher from the current level. Trader Rekt Capital noted that $73,000 is the current key support level. If Bitcoin closes above this level on a weekly basis, it will be more favorable for confirming a double bottom breakout pattern and sustaining the subsequent upward trend.

Analyst: Key Support Level for Bitcoin at $73,000, Weekly Close Above Could Confirm Double Bottom Breakout

On May 31, according to the Iranian Students' News Agency, Khosravi, a member of the National Security and Foreign Policy Committee of Iran, stated that the nuclear issue has been excluded from the negotiation table, and no final agreement has been reached yet. (Jinshi)

[Iranian Official: Nuclear Issue Excluded from Negotiations, No Final Agreement Reached Yet]On May 31, according to the Iranian Students' News Agency, Khosravi, a member of the National Security and Foreign Policy Committee of Iran, stated that the nuclear issue has been excluded from the negotiation table, and no final agreement has been reached yet. (Jinshi)

Iranian Official: Nuclear Issue Excluded from Negotiations, No Final Agreement Reached Yet

On May 31, the Cardano Foundation announced that the Cardano 2026 Summit, originally scheduled for this year, has been officially canceled due to the on-chain governance vote not reaching the required two-thirds support threshold. Previously, the Cardano Foundation submitted a revised proposal requesting a disbursement of 7.8 million ADA (approximately $2 million) from the treasury to host the summit in Singapore in October. Although the proposal received a 65.21% support rate from DRep stakers and a majority of representatives in favor, it did not meet the 66.67% approval threshold required for treasury funding proposals. Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard had publicly called for support for the proposal before the voting deadline, but it ultimately did not pass.

[Cardano 2026 Summit Canceled Due to Failed Treasury Proposal]On May 31, the Cardano Foundation announced that the Cardano 2026 Summit, originally scheduled for this year, has been officially canceled due to the on-chain governance vote not reaching the required two-thirds support threshold. Previously, the Cardano Foundation submitted a revised proposal requesting a disbursement of 7.8 million ADA (approximately $2 million) from the treasury to host the summit in Singapore in October. Although the proposal received a 65.21% support rate from DRep stakers and a majority of representatives in favor, it did not meet the 66.67% approval threshold required for treasury funding proposals. Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard had publicly called for support for the proposal before the voting deadline, but it ultimately did not pass.

Cardano 2026 Summit Canceled Due to Failed Treasury Proposal

On May 31, CNN reported that officials stated Trump made modifications to the proposed agreement with Iran after meeting with his advisors on Friday, which will extend the negotiation process by another week. The specific changes requested by Trump remain unclear, but officials indicated that the president insists on incorporating tougher language regarding Iran's nuclear commitments and guarantees for the reopening of the Strait of Hormuz. As disputes over the wording of the agreement continue, it remains uncertain how these differences will be resolved. Axios and The New York Times previously reported on Trump's proposed modifications.

[US Media: Trump's Modifications to Proposed Agreement Extend US-Iran Negotiations by One Week]On May 31, CNN reported that officials stated Trump made modifications to the proposed agreement with Iran after meeting with his advisors on Friday, which will extend the negotiation process by another week. The specific changes requested by Trump remain unclear, but officials indicated that the president insists on incorporating tougher language regarding Iran's nuclear commitments and guarantees for the reopening of the Strait of Hormuz. As disputes over the wording of the agreement continue, it remains uncertain how these differences will be resolved. Axios and The New York Times previously reported on Trump's proposed modifications.

US Media: Trump's Modifications to Proposed Agreement Extend US-Iran Negotiations by One Week

On May 31, Federal Reserve Governor Waller stated during a panel discussion at the 32nd Dubrovnik Economic Conference that the global adoption of stablecoins could amplify the influence of Federal Reserve policies. "For countries adopting stablecoins, it's akin to a fixed exchange rate system. You will be inputting the cost of U.S. currency, thus, in countries where stablecoins are more widely used, it effectively expands the reach of U.S. monetary policy." (Jin Shi)

[Fed Governor Waller: The Popularity of Stablecoins Will Amplify Fed Policy Influence]On May 31, Federal Reserve Governor Waller stated during a panel discussion at the 32nd Dubrovnik Economic Conference that the global adoption of stablecoins could amplify the influence of Federal Reserve policies. "For countries adopting stablecoins, it's akin to a fixed exchange rate system. You will be inputting the cost of U.S. currency, thus, in countries where stablecoins are more widely used, it effectively expands the reach of U.S. monetary policy." (Jin Shi)

Fed Governor Waller: The Popularity of Stablecoins Will Amplify Fed Policy Influence

On May 31, according to Coinglass data, if Bitcoin breaks through $75,000, the cumulative short liquidation intensity on mainstream CEX will reach $453 million. Conversely, if Bitcoin falls below $72,000, the cumulative long liquidation intensity on mainstream CEX will reach $670 million.

[If Bitcoin Surpasses $75,000, Mainstream CEX Short Liquidation Intensity Will Reach $453 Million]On May 31, according to Coinglass data, if Bitcoin breaks through $75,000, the cumulative short liquidation intensity on mainstream CEX will reach $453 million. Conversely, if Bitcoin falls below $72,000, the cumulative long liquidation intensity on mainstream CEX will reach $670 million.

If Bitcoin Surpasses $75,000, Mainstream CEX Short Liquidation Intensity Will Reach $453 Million

On May 31, according to news from the US on May 30, a robotics startup based in San Francisco plans to send upgraded humanoid robots to Ukraine this year for ongoing military testing. The company's representative stated that the data collected from real-world tests in Ukraine will provide insights for future collaborations with the US military. The company aims to use the humanoid robots for frontline testing with the US military within 18 months. There has been no response from the Ukrainian Ministry of Defense or the US Department of Defense regarding the reports. (CCTV News)

[US Company Plans to Test Upgraded Humanoid Robots on Ukrainian Battlefield]On May 31, according to news from the US on May 30, a robotics startup based in San Francisco plans to send upgraded humanoid robots to Ukraine this year for ongoing military testing. The company's representative stated that the data collected from real-world tests in Ukraine will provide insights for future collaborations with the US military. The company aims to use the humanoid robots for frontline testing with the US military within 18 months. There has been no response from the Ukrainian Ministry of Defense or the US Department of Defense regarding the reports. (CCTV News)

US Company Plans to Test Upgraded Humanoid Robots on Ukrainian Battlefield

On May 31, Republican fintech entrepreneur Michael Carbonara sold 10 bitcoins for $800,000 to finance his congressional campaign, demonstrating his support for cryptocurrency in this critical battle as the electoral landscape shifts. Beyond the election, Carbonara believes that blockchain can help the government enhance the transparency of taxpayer fund usage. (Decrypt)

[Republican Entrepreneur Michael Carbonara Sells 10 Bitcoins to Fund Congressional Campaign]On May 31, Republican fintech entrepreneur Michael Carbonara sold 10 bitcoins for $800,000 to finance his congressional campaign, demonstrating his support for cryptocurrency in this critical battle as the electoral landscape shifts. Beyond the election, Carbonara believes that blockchain can help the government enhance the transparency of taxpayer fund usage. (Decrypt)

Republican Entrepreneur Michael Carbonara Sells 10 Bitcoins to Fund Congressional Campaign

On May 31, White House National Economic Council Director Hassett stated on Sunday that the media's reporting on economic news often leads people to overly focus on the most severe issues present at a specific moment. Speaking on ABC's "This Week," Hassett remarked, "One thing I've noticed at the White House is that whenever a particular consumer price data appears somewhat disappointing, we only talk about that one item." He made this statement in response to questions about gasoline prices and their impact on inflation. Hassett emphasized that everyone should look at the bigger picture, rather than just focusing on energy prices or a specific sector of the economy that is temporarily struggling. "What you should do is calmly view these ups and downs and pay attention to changes in real wages," he said. "If you look closely, you'll find that due to an increase in employment, a rising stock market, and substantial corporate profits, this is translating into higher wage levels."

[White House Economic Director Urges Public to View Economic Data Fluctuations Rationally]On May 31, White House National Economic Council Director Hassett stated on Sunday that the media's reporting on economic news often leads people to overly focus on the most severe issues present at a specific moment. Speaking on ABC's "This Week," Hassett remarked, "One thing I've noticed at the White House is that whenever a particular consumer price data appears somewhat disappointing, we only talk about that one item." He made this statement in response to questions about gasoline prices and their impact on inflation. Hassett emphasized that everyone should look at the bigger picture, rather than just focusing on energy prices or a specific sector of the economy that is temporarily struggling. "What you should do is calmly view these ups and downs and pay attention to changes in real wages," he said. "If you look closely, you'll find that due to an increase in employment, a rising stock market, and substantial corporate profits, this is translating into higher wage levels."

White House Economic Director Urges Public to View Economic Data Fluctuations Rationally

Huobi is scheduled to list ACS (Access Protocol) on May 24, 2023. ACS deposits will open at 08:00 (UTC) on May 22. The ACS spot trading (ACS/USDT) will open when the deposit volume meets the demand of market trading, which will be officially announced in advance. ACS withdrawals will open at 10:00 (UTC) on May 25.

Detail

【Huobi Will List ACS (Access Protocol) on May 24, 2023】Huobi is scheduled to list ACS (Access Protocol) on May 24, 2023. ACS deposits will open at 08:00 (UTC) on May 22. The ACS spot trading (ACS/USDT) will open when the deposit volume meets the demand of market trading, which will be officially announced in advance. ACS withdrawals will open at 10:00 (UTC) on May 25.

Huobi Will List ACS (Access Protocol) on May 24, 2023

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Article

U.S. Government Prohibits Agreements for 'Safe Passage' with Iran; Navigation in Hormuz Remains Challenging

Huobi Will List ACS (Access Protocol) on May 24, 2023

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