金麦飞JMF

Samsung's biggest strike countdown in 55 years is on, with 50,000 employees set to halt work for 18 days, and the memory supply chain is hanging in the balance.

Samsung Electronics' union and management have completely flopped on salary negotiations. According to reports from Yonhap News and Reuters, the two sides are totally at odds over the bonus system. The union wants to ditch the annual bonus cap (currently set at 50% of base salary) and has demanded that 15% of operating profits be allocated as performance bonuses; management is only willing to offer 10%, plus a one-time compensation.

On May 13th, after a 17-hour marathon mediation, the talks failed. The union announced that if there's no resolution by May 21st, they will strike until June 7th, with over 50,000 expected to participate. This is the first time in Samsung's 55-year history that things have escalated to this level.

Samsung is the world's largest memory chip manufacturer, holding 43%-48% of the DRAM market and 28%-35% of the NAND Flash market, while also ramping up production of HBM4 type AI high-bandwidth memory directly for Nvidia.

If the strike actually happens, the core factories in Pyeongtaek and Hwaseong are sure to be affected. Industry estimates suggest daily losses could reach $700 million, adding up to 40 trillion won (about 182.4 billion RMB) over 18 days.

As soon as the news broke, Samsung's stock price dropped nearly 9%. There's concern that delays in chip delivery could push up the spot prices of DRAM and NAND, tightening things up even more for AI servers.

The South Korean government is getting anxious, with the Prime Minister convening meetings to assess the impact, and Samsung's board chairman publicly stating that a strike would harm investors, employees, and the national economy.

Right now, AI demand is booming, and Samsung's HBM production capacity is just starting to ramp up. How this AI bounty gets divided will depend not only on how labor and management negotiate but could potentially shift the entire chip supply chain as well.
#韩国三星劳资谈判破裂 $BTC

ETH liquidation data update, 2166 vs 2369, both sides stacked nearly $900 million

Coinglass data: If ETH dips below $2166, the liquidation size for long positions on major exchanges is around $875 million. Conversely, if it breaks above $2369, there’s about $853 million waiting to be liquidated on the short side.

In simple terms, there’s a massive amount of high leverage positions in the market right now; a small price movement could trigger a chain reaction. If longs get liquidated, it could crash the price, and if shorts get liquidated, it could pump the price, leading to back-and-forth volatility.

ETH has a large market cap, and if it really blows up, the entire market won’t fare well.

If you’re going long, keep an eye on the $2166 level, and for shorts, watch out for $2369. From past experience, these dense liquidation zones often amplify volatility, possibly more than you expect.

Whether you’re trading spot or futures, consider lowering your leverage, set your stop-losses, and keep an eye on on-chain data.

As always, leverage is a double-edged sword; trade within your means.
$ETH

$BILL has been on a continuous bull run for a week now, and it won't chill? A lot of folks probably got wrecked selling their airdrops.

ETH/BTC ratio has dropped to a 10-month low, and Ethereum is still taking hits.

Today, the ETH/BTC ratio crashed to 0.02835, marking a new low since July 2025. From last August's peak of 0.04324, that's a drop of over 35%. Ethereum fell more than 2% in a day, while Bitcoin only dipped about 1%. Clearly, money is still flowing into BTC.

This year, Bitcoin has been quite strong; ETF money keeps pouring in, institutions are stacking, and with the halving effect, BTC's market cap share even climbed back to over 60%. On the Ethereum side, there’s been movement too—Pectra upgrade, stablecoins surged to $180 billion, and new users are on the rise, but none of these have translated into price gains.

According to Glassnode data, active Ethereum addresses and transaction volumes are indeed hitting new highs, but the rotation signal relative to BTC remains weak. The 200-week moving average around 0.048 looks like an insurmountable barrier right now, haha.

ETH/BTC has been stuck in a downtrend channel, and key supports have already been broken multiple times. If it can't quickly bounce back and hold above 0.031, altcoins are likely to continue taking a beating in the short term. Conversely, if Bitcoin starts to pull back, funds may flow back from BTC to ETH and other Layer 1s, potentially sparking an altcoin rally.

In the short term, ETH may still be weaker than BTC, but for some, this is also a low-entry opportunity. Can Ethereum turn things around with tech upgrades and ecosystem improvements? We'll find out in the coming weeks.
#CPI超预期比特币承压 $BTC $ETH

US CPI data drops tonight at 20:30, and the market's expecting a 3.7% print.

April’s CPI figures are set to be released tonight, and the consensus is that the year-on-year rate will jump from March's 3.3% to around 3.7%, with a month-on-month increase of about 0.6%. If this comes true, it’ll mark a new high for the past two years.

The March CPI already got a boost from rising oil prices due to Middle Eastern tensions, while the core CPI has remained relatively mild at a year-on-year rate of 2.6%. If we hit that 3.7%, it’ll confirm that inflation isn't easing up anytime soon. Energy, housing, and services are all on the rise, and the impact of tariffs hasn’t been fully accounted for yet.

Wall Street is saying that if the data comes in higher than expected by more than 0.1 percentage points, we could see a spike in US Treasury yields, putting pressure on the stock market. Conversely, if the numbers are below expectations, the rate cut forecasts will likely start climbing.

Right now, the Fed is still holding firm on high rates, with the probability of a rate cut in September dropping from nearly 100% at the start of the year to around 70%. CPI is one of the indicators the Fed is watching most closely, and this data will directly influence the tone of the June policy meeting. Bloomberg and prediction markets like Kalshi and Polymarket have pegged 3.7% as a key level; if we breach that, traders will likely revise down their expectations for rate cuts this year.

For the average Joe, this data impacts where the money flows: if inflation rebounds, gold and energy stocks might shine, while growth stocks and cryptocurrencies could feel the heat, and vice versa for risk assets.

Regardless, tonight’s CPI will set the tone for the second half of the year, determining whether inflation is on a soft landing or rebounding; we’ll find out soon enough.
#美联储主席交接临近 $BTC

$LAB Wake up, your short position is about to get wrecked! In the last 5 minutes, LAB has shot up like crazy 😅

$VVV What's the deal with this coin? It’s been quietly pumping for over half a year, skyrocketing from a low point of under 1 to nearly 20 now. Is it still going to moon?

MicroStrategy has decided to resume its Bitcoin purchases after a brief pause ahead of Q1 earnings. They kicked off buying again this week.

On May 11, which is today, the strategy plans to restart regular Bitcoin buys. Michael Saylor hinted on X that they are gearing up for a significant buy. Currently, they hold 818,334 BTC, which is up 22% since the start of the year, with a BTC yield of 9.4%.

This year, they’ve raised over a billion dollars through ATM issuance and preferred stock financing, all dedicated to buying Bitcoin. During the Q1 earnings call, Saylor mentioned the possibility of selling a tiny bit of Bitcoin to pay dividends, but he added, "sell 1 coin and buy back 10-20 coins." Essentially, it’s still a net buy.

In April, their buying was aggressive, spending as much as $2.54 billion in a single week. The pause those few days was just a normal transition ahead of earnings, and Saylor himself stated that buying will resume next week.

For those watching, this strategy isn’t complicated: finance, buy coins, keep financing, keep buying. Got preferred shares that need interest payments? Just raise a bit more.

BTC price might dip temporarily, but often institutional funds come in to scoop up more after that. $BTC
#strategy恢复购买btc

The whales are too savage, precision demolition. 4 million just like that flew away, better remember next time, shorting at 0.68 and still holding on... $LAB

MicroStrategy's strategy mentioned a couple of days ago that they might consider offloading some Bitcoin, not a full-on dump, but under specific conditions, like paying dividends or adjusting their capital structure.

During the earnings call on May 6th, Michael Saylor and CEO Phong Le explicitly hinted at this for the first time.

Saylor's exact words were, "We are very likely to sell some Bitcoin to pay dividends." Phong Le added a condition: they will only pull the trigger if selling can enhance the per-share Bitcoin value. Whether they swap it for USD or use it to pay down debt, the ultimate goal is to increase the BTC proportion for shareholders. This isn't just random selling; it's a strategic move to manage the books, aiming for long-term value maximization.

MicroStrategy currently holds over 800,000 BTC, making it the largest corporate holder of Bitcoin globally. Saylor had previously been adamant about never selling, even when the SEC filings in 2025 referenced potential forced sales, which he brushed off quickly.

But this time is different; the shift from passive defense to active liquidity management is notable, especially considering the annual $1.5 billion preferred stock dividend. Bitcoin's price has fallen significantly from last year's peak, and Q1 earnings reported substantial accounting losses. Having the option to sell Bitcoin could help buffer cash flow.

Following the news, MSTR saw a post-market dip, and Bitcoin briefly dropped below $81,000. However, some believe this isn't necessarily a bad thing; it seems like MicroStrategy is transitioning from being a Bitcoin hoarder to a more strategic treasury. Under the right conditions, small-scale selling might become a regular move, but it won't change their long-term net buying stance.

Every move by MicroStrategy is redefining what it means for Bitcoin to be a corporate reserve asset.
#strategy限定条件出售btc $BTC

BlackRock is shaking things up in the crypto space again. This global asset management giant is set to launch two tokenized money market funds targeting those who have their cash sitting idle in stablecoins.

The first one is called the BlackRock Select Treasury Liquidity Fund, which will primarily invest in cash and short-term U.S. Treasuries maturing within 93 days, issued on Ethereum.

The second one has a long name: the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). It's aimed at users managing their funds with crypto wallets and supports multiple chains. Both funds are backed by cash, government bonds, and repurchase agreements, sticking to the low-risk, high-liquidity approach. In simpler terms, it allows stablecoin users to earn some interest at money market fund levels.

This isn't BlackRock's first rodeo; back in 2024, they launched the BUIDL Fund, which has now become the largest tokenized money market fund on-chain, with a scale of around $2.5 billion. Many crypto platforms are using it as collateral.

CEO Larry Fink has been vocal about all financial assets eventually becoming tokenized. This new product is an extension of that vision, transforming stablecoins from idle cash into income-generating assets.

So, what’s in it for us? For regular users, there's no need to keep converting USDC or USDT; they can now tap into institutional-level yields. For stablecoin issuers and DeFi protocols, it provides a compliant and flexible reserve management tool.

The pace at which traditional financial giants are entering the space is faster than expected, and the RWA lane is likely to explode this year.
#贝莱德拟推面向稳定币用户的货币市场基金 $BTC $ETH

🧧🧧🧧$0G This thing, this increase is probably just an illusion, not solid at all.

Taiwan is considering using Bitcoin as a war reserve asset. The Bitcoin market has matured, and it is unlikely to see a drop of 85% like in the past.

Analysis suggests that Bitcoin's attributes as digital gold are becoming increasingly apparent. In the context of geopolitical tensions, Bitcoin can provide a reserve asset that is not controlled by any single country.

Taiwan's consideration reflects Bitcoin's new role in the international reserve system. $BTC

Recently, some users have discovered that the world's largest cryptocurrency exchange allows the display of certain specific charts.

This has led many to start questioning whether the exchange actually cares about transparency.

This discussion actually reflects the ongoing controversy regarding data disclosure on trading platforms.

Now investors are increasingly concerned about the operational transparency of exchanges, especially during times of high market volatility.

If transparency is lacking, users' trust in the platform may be diminished, which can also affect the healthy development of the entire market.

#Bitcoin #Ethereum

Ethereum is preparing to implement the EIP-8025 upgrade in 2026.

This upgrade is considered a core part of their zero-knowledge virtual machine roadmap, primarily aiming to introduce an optional zero-knowledge execution proof mechanism.

In simple terms, this means that in the future, validating nodes will no longer need to reprocess all transactions of each block; they will only need to check the zero-knowledge proof.

As a result, the barrier to running an Ethereum node will be much lower. Previously, it might have required a professional server, but now a regular laptop can handle it.

This is a good thing for network decentralization, as the more participants there are, the more secure the network becomes. $ETH

Forbes just published an article stating that Google researchers released a paper warning that quantum computers could pose a threat to Bitcoin. Specifically, when quantum computers develop to about 500,000 qubits, they will have the ability to crack Bitcoin's encryption system.

The security of Bitcoin relies on a complex set of encryption algorithms, particularly the elliptic curve digital signature algorithm. This system is impervious to ordinary computers, but quantum computers are different; they utilize the properties of quantum mechanics, solving certain mathematical problems at an exponential speed, making it natural for them to break encryption algorithms.

Currently, the most advanced quantum computers have only a few hundred qubits, far from 500,000. However, technology develops rapidly, and experts have already begun to prepare in advance. The Bitcoin community has also been active, researching quantum-resistant encryption technologies, such as lattice-based encryption algorithms, which are said to withstand the challenges posed by quantum computers.

For ordinary investors, there is no need to be overly anxious, but it's always good to stay vigilant. The price of Bitcoin is currently stable at over sixty-six thousand dollars, and the market's reaction to the issue of quantum computing has been relatively calm. However, looking long-term, whether encryption technology can be upgraded in time is indeed the key to whether Bitcoin can continue to thrive.

Technology is always advancing, and the offensive and defensive battles have never stopped. Bitcoin has been around for 17 years since its inception, facing waves of doubt and challenges; this latest threat from quantum computing is just the most recent episode. The real test is whether the Bitcoin community can upgrade the technology before the threat actually arrives, allowing this decentralized financial system to operate safely for the long term. $BTC #谷歌量子AI警示加密安全

Today there is something quite interesting, the blockchain has detected significant activity from the wallet of Riot Platforms. This bitcoin miner's wallet has transferred out several hundred bitcoins, enough to attract the market's attention.

I looked at the data, and this scale is indeed considerable. Many in the market are speculating whether the miner is financially tight and needs to sell some bitcoins to maintain operations. The mining industry has been going through tough times lately, with rising electricity costs and increased mining difficulty, severely squeezing profits. Small mines are basically struggling around the breakeven line, and while large miners have a solid foundation, the overall industry is declining, making it tough for everyone.

Such selling behavior is quite dangerous, as it can easily create a vicious cycle. If bitcoins are thrown into the market, the increased supply causes prices to drop, and when prices fall, more miners have to sell coins to survive, causing prices to drop further... If this cycle continues, the entire ecosystem will be affected.

However, that being said, this kind of adjustment is not entirely a bad thing. It eliminates those inefficient and high-cost mines, leaving only the capable ones, which makes the industry healthier in the long run. The current situation is somewhat like the industry is self-cleaning, although the process can be quite painful. $BTC #BTC行情