BTCC Evening News Highlights (May 28)

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1. US April PCE Posts Biggest Increase in Nearly Three Years, Core Inflation Rises to 3.3%
The US Personal Consumption Expenditures (PCE) price index rose 3.8% year-over-year in April, marking the largest increase since May 2023, with energy prices rising significantly due to the Iran war. Core PCE rose 3.3% year-over-year, the largest increase since November 2023, and increased 0.2% month-over-month. Reuters said rising living costs are squeezing household income, while the US savings rate fell to 2.6%, a four-year low.

2. US Q1 GDP Revised Down to 1.6%, Consumption and Inventory Investment Weaker Than Initial Estimate
The US Commerce Department revised first-quarter annualized GDP growth down from the initial 2.0% to 1.6%, mainly due to inventory investment and consumer spending coming in below the initial estimate. Consumer spending growth was revised down to 1.4%. Business equipment investment remained strong at 17.2%, while AI-related spending continued to serve as an important support for economic activity.

3. S&P 500 and Nasdaq Hit New Closing Highs Again as US-Iran Ceasefire Extension Draft Boosts Risk Appetite
US stocks closed higher on Thursday, with the S&P 500 and Nasdaq hitting new record closing highs again. Reuters said news that the United States and Iran had reached a draft agreement to extend the ceasefire by 60 days boosted market sentiment. Technology and healthcare sectors performed strongly. Snowflake surged about 36% after announcing a $6 billion AI infrastructure agreement with AWS, Microsoft rose 3.5%, and Marvell gained 3%.

4. Oil Prices Edge Lower, Weekly Losses Exceed 8%
Reuters said oil prices edged lower during Asian trading on Friday, affected by news that the United States and Iran may extend the ceasefire agreement and that shipping restrictions in the Strait of Hormuz may ease. Brent July futures fell 0.37% to $93.36 per barrel, while WTI crude fell 0.71% to $88.27 per barrel. Oil prices have fallen more than 8% this week, with Brent once dropping from last week’s high of $109.47 to $87.11.

5. US Imposes Additional Sanctions on Iran’s Military Oil Sales Network
The US Treasury Department announced a new round of sanctions targeting eight vessels suspected of participating in exports of Iranian crude oil and petrochemical products, as well as more than 15 entities. US Treasury Secretary Bessent said the US goal is to prevent Iran from using oil revenue to rebuild its military power. The sanctioned targets include related companies in Hong Kong, Dubai and other locations, involving the Sepehr Energy Jahan oil trading network linked to the Iranian military.

6. Dollar Weakens, US Treasury Yields Fall, Yen Again Near Intervention-Sensitive Zone
The draft US-Iran ceasefire extension reduced safe-haven demand, sending the dollar index down 0.3% to around 99. The euro rose 0.20% to $1.1649, while USD/CHF fell 0.37%. The 10-year US Treasury yield fell 2.8 basis points to 

4.453%. Meanwhile, USD/JPY remained near 160, and markets continued to watch the risk of possible intervention by Japanese authorities.

7. Dell Shares Jump Over 38% After Hours as Q1 Revenue Far Exceeds Expectations
Dell raised its full-year revenue and profit forecasts, citing continued growth in demand for AI-optimized servers. Reuters said the company’s first-quarter revenue rose 88% year-over-year to $43.84 billion, while adjusted earnings per share reached $4.86, both above expectations. Dell expects AI server revenue to reach $60 billion in fiscal 2027, above its previous forecast of $50 billion, and raised its full-year revenue guidance to $165 billion to $169 billion. After the earnings release, Dell shares surged in after-hours trading and were up 38.29%.

8. On-Chain Whale Activity
According to Onchain Lens, on-chain whale address “0x688” sold 102,001 HYPE at around $57.3, cashing out about 5.84 million USDC and making more than $1 million in profit within 13 days. Another whale again bought 20,000 ETH from FalconX, bringing total holdings to 143,900 ETH.

9. Crypto Industry News
• Standard Chartered reiterated its ETH price targets of $4,000 by year-end and $40,000 by 2030
• CryptoQuant: Accumulation by large Bitcoin holder addresses has stalled, while demand remains weak
• Crypto advocacy group the Digital Chamber has increased pressure on the US Congress, calling for passage of the Clarity Act
• Bitwise said that with the launch of HYPE ETF products, investor demand for Hyperliquid exposure is rising; Bitwise will also use 10% of management fees to buy HYPE and include it on its own balance sheet

10. AI Industry News
• Anthropic announced the completion of a $65 billion Series H funding round, raising its post-money valuation to $965 billion, above OpenAI’s recent valuation of $852 billion. Participants in the round included Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.
• Apollo and Blackstone are reportedly arranging about $36 billion in debt financing for Anthropic’s infrastructure expansion, supporting its purchase of Google custom TPUs and expansion of compute capacity.
• Snowflake raised its annual revenue forecast and signed a five-year, $6 billion agreement with AWS, gaining support from AWS Graviton chips and AI infrastructure. Its shares rose more than 33% at one point.
• OpenAI Foundation announced a $250 million commitment to help workers and economies respond to the impact of AI technology.