● Trump: Suggests imposing a 50% tariff on EU products starting June 1
According to BlockBeats' report on May 23, Trump stated on TruthSocial that the EU is disadvantaging the U.S. through trade barriers and value-added taxes, leading to an annual trade deficit exceeding $250 billion. He suggested imposing a 50% tariff on EU products starting June 1, 2025, with no tariffs if products are manufactured in the U.S.
● U.S. Treasury Secretary: Expects several major trade agreements to be reached in the coming weeks
According to Deep Tide TechFlow's report on May 23, U.S. Treasury Secretary Bentsen stated that several major trade agreements are expected to be reached in the coming weeks. Tariff policies have generated considerable revenue, with hundreds of billions in tariff income expected annually, presenting an optimistic outlook for the deficit.
● Federal Reserve's Goolsbee: Interest rate cuts still possible in the next 10-16 months
According to Jin Ten Data's report, Federal Reserve's Goolsbee indicated that borrowing costs may be lowered in the next 10 to 16 months, but the threshold for recent rate cuts is relatively high. He emphasized that the threshold for action is high while waiting for clear signals.
Goolsbee pointed out that interest rates may be slightly below current levels. U.S. President Trump threatened to impose a 50% tariff on EU imported goods and a 25% tariff on non-U.S. manufactured iPhones. Goolsbee mentioned that high tariffs severely impact supply chains, and business leaders express concerns about tariff and investment consistency.
● SEC reviews Nasdaq Bitcoin index options listing proposal
According to ChainCatcher's report, the U.S. Securities and Exchange Commission (SEC) is reviewing Nasdaq PHLX's proposal to list and trade Nasdaq Bitcoin index options.
● Strategist: Fiscal policy may trigger significant repricing of U.S. Treasuries
According to Deep Tide TechFlow's report on May 23, SEB Research's chief interest rate strategist Jussi Hiljanen indicated that U.S. long-term Treasury yields may rise further. Market confidence in U.S. policy is waning, with foreign exchange hedging costs and valuation lacking attractiveness, leading investors to turn to European bonds, creating structural upward pressure on long-term U.S. yields. Long-term Treasury yields are expected to rise moderately, but fiscal policy may trigger significant repricing of U.S. Treasuries.
● Bitwise predicts countries and institutions will hold 4.269 million bitcoins by the end of 2026
According to Odaily Planet Daily's report, Bitwise, managing $12 billion in assets, predicts that by the end of 2026, countries and institutions will hold 4.269 million bitcoins, with a total value reaching $42.69 billion.
According to BlockBeats' report on May 23, Glassnode's accumulation trend score reached a peak of 1.0, showing active buying from whales to small holders. This metric assesses the buying strength across different wallet sizes, excluding exchanges and miners. Additionally, options market activity indicates a recovery in demand. CoinDesk Research points out that the call options expiring in June with a strike price of $300,000 are the most popular, with a nominal value of $620 million, and another $420 million concentrated in call options with a strike price of $200,000.
Binance Research's latest report systematically analyzes the evolving relationship between the bond market and the crypto market, identifying and dissecting the pathways of influence, assessing the current market situation, and predicting potential future trends and their impacts through scenario simulations.
The report indicates that the bond market is influencing the trends of the crypto market through multiple channels, primarily including risk appetite, liquidity, fluctuations in opportunity cost, and macroeconomic interlinkages. Historical data shows that the correlation between Bitcoin and U.S. 10-year Treasury yields has phase characteristics (positively correlated from 2021 to 2022, then negatively correlated from 2022 to 2023). Additionally, the widening of yield curve spreads (e.g., 10-year vs. 2-year) has historically shown a positive correlation with Bitcoin, while the widening of credit spreads (high-yield U.S. Treasuries) has exhibited a stable negative correlation.
The report also points out that the current volatility in the bond market is driven by multiple structural factors, including tariff uncertainties, sticky inflation, government debt issuance, and the potential liquidity withdrawal caused by the Treasury General Account (TGA) replenishment amid low Federal Reserve overnight reverse repo balances.
Finally, the report emphasizes that the direction of the crypto market may depend to some extent on the stability of the bond market and changes in the macro environment. If uncertainties persist, the market may maintain range-bound fluctuations; if a 'soft landing' is achieved, it could drive a market rebound; while a severe crisis scenario could trigger deep sell-offs and deleveraging in the crypto market.
