BlockBeats News, May 12th. Wintermute released its weekly market summary, stating that the US stock market continued its strength with a sixth consecutive week of gains. The Nasdaq index rose by 4.5% and the S&P 500 index rose by 2.3%, both hitting new all-time highs. Small-cap stocks and tech giants rallied in sync. Nonfarm payrolls data exceeded expectations, with the unemployment rate holding steady at 4.3%, showing the resilience of the labor market. Despite the turmoil in the Strait of Hormuz, the market viewed it as noise, and the war premium has sharply receded. Iran-US negotiations have returned to square one, with Iran's demands for sovereignty, compensation, and sanction waivers directly rejected by Trump. This week, CPI data will test the transmission of energy prices to inflation. With Powell's term ending and Yellen taking over, all eyes are on the Fed's June FOMC dot plot.

As for crypto assets, Bitcoin broke through the $80,000 mark, reaching a high of around $83,000, and for the first time rose above the 200-day moving average (the first time in seven months). However, this increase was clearly driven by leverage: open interest in futures contracts surged by $10 billion in a month, while spot trading volume hit a two-year low. This was a typical short squeeze rather than a healthy breakout. Institutional support remains strong, with ETF net inflows of $623 million and exchange reserves at a 7-year low. But there is a high short-term risk - the RSI has entered overbought territory. If the squeeze ends and spot trading does not take over, the Bitcoin price could quickly fall back. Altcoins are shifting towards personalized narratives, with tokens and AI hash power sectors performing well. Overall, in the crypto market, this rebound needs to quickly validate whether it is the start of a true bull market: it is currently mainly driven by stock market and leverage resonance. If CPI rises or uncertainty arises from the Fed's leadership change, whether Bitcoin can independently hold above $80,000 will be a key confirmation signal.