Market analysis suggests that Bitcoin may encounter increased pressure as the U.S. April Consumer Price Index (CPI) data is set to be released on May 12. According to Odaily, the latest forecast from the Cleveland Federal Reserve indicates that the U.S. April overall CPI may rise to 3.56% year-on-year, up from 3.3% in March. This could reinforce market expectations that the Federal Reserve may find it difficult to lower interest rates in the short term, thereby exerting pressure on Bitcoin and other risk assets. Analysts note that although Bitcoin has remained strong following previous higher-than-expected inflation data releases, current market support has weakened compared to earlier periods. Particularly after Strategy halted Bitcoin purchases, institutional absorption capacity for new Bitcoin supply has decreased, potentially increasing market sensitivity to CPI data. On the technical front, Bitcoin's daily chart is forming a classic "rising wedge" pattern. If the price falls below the critical support level of approximately $84,000, it may further decline towards the $70,000 area. Conversely, if it successfully breaks through the 200-day moving average resistance, it could open up an upward space between $90,000 and $95,000.

Retail Bitcoin addresses holding less than 1 BTC have collectively added a net total of 23,074 BTC over the past 30 days, according to NS3.AI. Meanwhile, whale wallets, which hold more than 10,000 BTC, have increased their balances by 140,699 BTC. This marks the largest net growth for whale wallets in nearly two years, as noted by Murphy.

Circle, the issuer of the USDC stablecoin, announced it will release its first-quarter financial results on May 11 before the U.S. stock market opens. According to Odaily, a conference call to discuss the financial outcomes and business progress is scheduled for 20:00 UTC+8 on the same day. Market expectations for Q1 revenue are approximately $715 million, reflecting a 7% decrease from the $770 million reported in Q4 2025, but an 11% increase year-over-year. The anticipated GAAP earnings per share (EPS) is $0.18, with an adjusted EPS forecast of $0.27. Analysts have set an average price target of $144.36. Oppenheimer maintains a buy rating with a target price of $152, while Needham also maintains a buy rating but has lowered its target price from $190 to $130. Circle's current market capitalization is reported at $28.1 billion, with a stock price of $113.67.

Global physically backed gold exchange-traded funds (ETFs) attracted $6.6 billion in inflows in April, reversing March's record outflows of $12 billion, according to BeInCrypto. This shift was led by European investors, who contributed $3.7 billion, followed by Asian and North American investors with $1.8 billion and $1 billion, respectively. The inflows coincided with a stabilization in gold prices, which slipped only 1.12% in April after a 13% plunge in March. Year-to-date, global gold ETFs have seen $19 billion in net inflows, with total assets under management rising to $615 billion.

A Qatari liquefied natural gas (LNG) carrier has successfully crossed the Strait of Hormuz and entered the Gulf of Oman, marking the first such transit in approximately 70 days. According to NS3.AI, tracking data revealed that the vessel utilized a newly activated shipping channel by Iran and is currently en route to Pakistan.

Iranian President Masoud Pezeshkian emphasized that negotiation is not a form of surrender but a strategy to protect Iran's rights and national interests. According to NS3.AI, Pezeshkian made these comments during a meeting focused on reconstruction efforts following the "Third Imposed War." He highlighted that supporting families affected by the conflict remains the government's primary concern.

The global cryptocurrency market cap now stands at $2.68T, up by 0.71% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $80,166 and $81,080 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $80,820, up by 0.70%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include LAYER, PSG, and XEC, up by 56%, 37%, and 26%, respectively. Top stories of the day: South Korea's National Tax Service to Pilot Virtual Asset Custody Rwanda's Parliament Approves Virtual Asset Regulation Bill Protocols Migrate to Chainlink CCIP Amid LayerZero Apology Strategy CEO: Bitcoin Sales Limited to Dividend Payments and Tax Offsets The ETF Store President: Prediction Market ETFs May Be Launched Soon CFTC and SEC Strengthen Oversight Collaboration on Prediction Markets, Potentially Expanding Enforce XRP News: XRP Price Approaches $1.40 Resistance as Tightening Range Signals Potential Breakout Crypto's Biggest Week: US CPI Data, PPI Release, and Binance Online 2026 — What to Watch BlackRock Files for Two New Tokenized Funds as Real-World Asset Market Tops $30 Billion Altcoins Surge as Bitcoin Holds Above $80,000 — SEC Chair Backs Onchain Finance Rules Trader Eugene Ng Ah Sio: Bitcoin Near Key Breakout Level as Altcoins Show Bottoming Signals U.S. Bitcoin ETFs Bleed $145.7 Million as Ethereum ETFs See Rare Inflow Day Market movers: ETH: $2329.01 (+0.68%) BNB: $651.05 (+0.30%) XRP: $1.4257 (+0.37%) SOL: $94.51 (+1.17%) TRX: $0.3495 (-0.63%) DOGE: $0.1088 (-0.87%) WBTC: $80615.09 (+0.71%) U: $0.9999 (-0.01%) ZEC: $606.69 (-1.23%) ADA: $0.2724 (-0.22%) Top gainers on Binance: LAYER/USDT (+56%) PSG/USDT (+37%) XEC/USDT (+26%)

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