WTI Price Forecast: Struggles to reclaim $100, outlook remains firm

WTI US Oil declines to near $97.20 during the day. However, the near-term bias stays constructive as price holds above the 20-day exponential moving average (EMA) at roughly $95.80, suggesting the recent pullback remains a correction within an uptrend.  The Relative Strength Index (RSI) around 53 keeps a neutral-to-positive tone, hinting that upside momentum is still intact but not overstretched.  On the downside, immediate support aligns with the 20-day EMA at $95.80, where a break would expose a deeper retracement toward $90. As long as buyers defend this moving average on closing bases, the broader recovery bias is likely to persist, leaving scope for fresh attempts toward the recent highs around the $100 handle, followed by the April 30 high of $107.35.

05-13

MARA Holdings (MARA) Stock Plunges 5% Following $1.5B Bitcoin Liquidation

Marathon Digital Holdings, Inc., MARA  The equity reached an intraday bottom of $11.74 immediately after the earnings announcement before staging a modest rebound. Extended trading saw an additional 1.86% decline.  First-quarter revenue totaled $174.6 million, representing an 18% year-over-year decrease. The net deficit of $1.26 billion more than doubled the $533 million shortfall recorded during the equivalent period last year. Bitcoins valuation declined approximately 22% throughout the quarter, significantly impacting financial performance.  Despite Tuesdays setback, MARA shares have appreciated roughly 32% over the trailing 30-day period.  Major Bitcoin Liquidation Details  MARA divested 20,880 BTC at a mean price of $70,137 per token during Q1, realizing approximately $1.5 billion in total proceeds. The majority of these transactions—15,133 BTC generating about $1.1 billion—occurred between March 4 and March 25.  These funds were strategically allocated to repurchase the companys convertible notes, reducing convertible obligations from approximately $3.3 billion to $2.3 billion, representing a 30% contraction. This debt restructuring produced a $71 million accounting gain.  Following these dispositions, MARA fell from second to fourth position among publicly listed Bitcoin holders. The company maintains 35,303 BTC in treasury, currently valued at approximately $2.84 billion.  Strategic Transformation Toward AI Infrastructure  MARA is executing a fundamental business model transformation, rebranding itself as “a digital infrastructure company

05-13

Japan Open Chain eyes B2B payments as EJPY plan takes shape

Japan Blockchain Foundation has announced plans to issue EJPY, a Japanese yen-pegged stablecoin, on Japan Open Chain and Ethereum. EJPY targets B2B settlements on Japan Open Chain, with Ethereum support planned from the start.EJPY launch terms and timing remain undecided pending regulatory reviews, trustee selection, and partner talks.JPYC, JPYSC, and bank pilots show Japans yen stablecoin market is becoming crowded fast now.  The foundation operates the consortium behind Japan Open Chain, an Ethereum-compatible Layer 1 public blockchain run by Japanese enterprises.  The group said EJPY is being prepared under a trust-type structure, with the foundation acting as settlor. It said talks with potential trustee businesses cover issuance, redemption, trust asset management, system needs, and legal compliance.  Meanwhile, EJPY is being prepared first for Japan Open Chain. The foundation said the token could support B2B settlements, digital asset settlements, remittances, and Web3 payments. It also said EJPY is “expected to generate transactions based on real demand,” a forward-looking claim that still depends on partners, users, and approvals.  Japan Open Chain is operated by 14 validators, including Dentsu, NTT Communications, G.U.Technologies, SBINFT, Pacific Meta, and Nethermind. The network says it plans to expand to 21 validators over time. Its native JOC Coin was listed on Zaif

05-13

S&P 500: Equities pressured by Oil and inflation – Deutsche Bank

Finance  S&P 500: Equities pressured by Oil and inflation – Deutsche Bank  Deutsche Banks Jim Reid notes that higher Oil prices and hawkish US inflation data created a challenging backdrop for equities. The S&P 500, Nasdaq Composite and Magnificent 7 all declined but recovered from deeper intraday losses, while defensive sectors such as healthcare and consumer staples outperformed. European indices, including the DAX and CAC 40, also weakened on Iran and Oil concerns.  US and European stocks retreat  “The hawkish inflation data combined with the Middle East conflict led to a challenging backdrop for equities.”  “However, this also wasnt helped by chipmakers and tech selling off with the Philly Stock Exchange Index falling back by -3.01%, although well off the -6.75% intra-day lows.”  “Elsewhere, the S&P 500 (-0.16%), Nasdaq Composite (-0.71%) and Magnificent 7 (-0.49%) also fell but again bounced off the lows.”  “The mood was more challenging in Europe, with multiple indices declining with the Iran and oil fears.”  “That included the DAX (-1.62%), CAC 40 (-0.95%) and Stoxx 600 (-1.01%), although the FTSE 100 (-0.04%) losses were not as steep.”

05-13

Euro: Range trading against US Dollar in low vol regime – ING

Finance  Euro: Range trading against US Dollar in low vol regime – ING  INGs Chris Turner highlights that EUR/USD three‑month implied volatility trades well below realised and near the lower end of its five‑year range, pointing to a range‑bound environment. With slightly greater upside risks to Oil prices, ING sees EUR/USD drifting lower in coming sessions but expects strong buying interest around 1.1650, while upcoming Eurozone Gross Domestic Product (GDP) and European Central Bank (ECB) speeches could shape expectations for a June rate hike.  Range-bound pair with downside risks  “EUR/USD three-month traded volatility is now 5.7%. That is more than 1% below realised volatility and not far from the 5.2/5.3% lower end of the range for traded volatility seen over the last five years. That does not mean that a new trend cannot occur, but when looking at the relatively flat risk reversal (the price of a euro call over an equivalent euro put), the conclusion is more range-bound EUR/USD trading.”  “Given that we see slightly greater upside risks to oil prices from current levels, EUR/USD could come a little lower over the coming sessions. However, good demand should be found once again at 1.1650. On the calendar today is the second release of 1Q26

05-13

XRP Breaks $1.46 Despite $434M In Futures Selling – Discover What Comes Next

Tech  XRP Breaks $1.46 Despite $434M In Futures Selling – Discover What Comes Next  XRP is showing strength as the market recovers from Februarys lows, with the price pushing above $1.46 and derivatives activity rebuilding across major exchanges. The move is constructive on the surface — but a CryptoQuant report tracking the flow data beneath the price action has identified a structural divergence that complicates the straightforward bullish reading considerably.  The open interest picture confirms that leverage is returning. On Binance, XRP open interest has climbed from approximately 207 million on April 30 to nearly 232 million today — a meaningful increase in derivatives positioning over a short period that reflects growing trader participation as the price recovers. In isolation, rising open interest during a price advance is a normal feature of a strengthening market.  Technically, XRP has improved considerably from the February lows near $1.10. Buyers successfully reclaimed the 50-day moving average and pushed the price back into the $1.40–$1.50 region, which now functions as the most important short-term battleground. That area has repeatedly rejected upside attempts since March, showing that supply remains active whenever XRP approaches breakout territory.  At the same time, sellers have failed to force a meaningful breakdown despite multiple pullbacks.

05-13

Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train

Tech  Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train  Baidu just did something that should make every AI lab reconsider its cloud computing budget. The companys ERNIE 5.1 model, launched on May 9, has climbed to fourth place globally on the Arena leaderboard and claimed the top spot among all Chinese AI models, with a score of 1,223.  The kicker: it got there while spending just 6% of what competitors typically burn on pre-training.  How Baidu pulled it off  The secret, according to Baidu, is what the company calls a “parameter efficiency” leap. ERNIE 5.1 reduced its total parameters by two-thirds compared to ERNIE 5.0, while only activating half of the remaining total size during inference.  The result has been independently validated as achieving flagship-level intelligence.  The timing is notable. Sino-US tech competition has intensified substantially, with US export controls on advanced chips forcing Chinese AI labs to squeeze maximum performance from constrained hardware. ERNIE 5.1‘s cost efficiency isn’t just an engineering flex. It‘s a strategic response to a geopolitical reality where access to cutting-edge Nvidia GPUs isn’t guaranteed.  The crypto angle: Ernie Chain and on-chain AI  Baidu hasn‘t launched a token for ERNIE 5.1 itself. But the company’s blockchain initiative, Ernie Chain, has been live

05-13

IEA says world oil supply to fall by 3.9 million bpd in 2026

Finance  IEA says world oil supply to fall by 3.9 million bpd in 2026  According to the International Energy Agency (IEA), the world oil supply to fall by 3.9 million barrels per day (bpd) in 2026 assuming the oil flows from the Strait of Hormuz, a critical passage to almost 20% of global energy supply, will gradually resume from June (prev. forecast 1.5 million bpd fall).  Additional projections  IEA sees total world oil supply 1.78 million bpd lower than demand in 2026 in monthly report (vs. 0.41 million bpd higher in previous report)  World oil demand falling by 420,000 bpd in 2026 on Iran war (prev. forecast 80,000 bpd drop).  Total global supply loss from Hormuz closure at 12.8 million bpd since February.  Global oil refinery runs are falling by 1.6 million bpd across 2026 on attacks, lower crude availability, and export restrictions.  War in the Middle East is depleting global oil inventories at a record pace, IEA says, after 246 million barrels drawn down in March-April.  Market reaction  No visible reaction by the WTI Oil price after the IEA projections release. As of writing, the WTI Oil price is down almost 1% lower to near $97.50.

05-13

Nvidia (NVDA) CEO Jensen Huang Makes Last-Minute Addition to Trump’s Beijing Delegation

Tech  Nvidia (NVDA) CEO Jensen Huang Makes Last-Minute Addition to Trumps Beijing DelegationJensen Huang made a surprise last-minute addition to Trumps China delegation following media reports about his initial exclusionPresident Trump is conducting his first China visit in almost ten years, scheduled for Thursday and Friday meetings with Xi JinpingUS export controls have significantly eroded Nvidias position in Chinas artificial intelligence chip sectorOther CEOs joining the trip include Elon Musk, Tim Cook from Apple, and Kelly Ortberg representing BoeingUS trade representative Scott Bessent conducted preliminary discussions with Chinese counterparts in South Korea before the summit  The Nvidia chief executive wasn‘t included initially. Jensen Huang’s name was missing from the White House‘s original manifest for Donald Trump’s Beijing journey, despite other prominent corporate executives being confirmed as participants.  This is absolutely insane.  President Trump is currently flying to China with all of the following people to request “deals” with Chinas President Xi:  1. Elon Musk, Tesla and SpaceX CEO  2. Jensen Huang, Nvidia CEO  3. Tim Cook, Apple CEO  4. Larry Fink, BlackRock CEO  5. Stephen…  — The Kobeissi Letter (@KobeissiLetter) May 13, 2026  The situation shifted during a stopover in Alaska. Huang was observed joining Air Force One en route to Chinas capital, after receiving a direct invitation from Trump in

05-13

Square reaches 1m Bitcoin-enabled merchants in U.S. rollout

Blocks Square has reportedly enabled roughly one million U.S. merchants to accept Bitcoin payments. Squares auto-enrollment push has now enabled roughly one million U.S. sellers to accept Bitcoin payments.Lightning Network support lets customers pay in BTC while merchants receive U.S. dollars by default.Blocks wider Bitcoin strategy includes Cash App rewards, Bitkey custody, and proof-of-reserves reporting across products.  The rollout uses the Lightning Network, allowing customers to pay in BTC while sellers receive U.S. dollars by default.  The update follows Squares earlier plan to bring Bitcoin payments to eligible sellers by 2026. Block said in 2025 that the feature would allow merchants to accept Bitcoin through Square hardware, with near-instant settlement and real-time exchange rate handling in the background.  Lightning removes payment friction  Squares setup is designed to reduce the risk that merchants face from Bitcoin price swings. Customers pay in Bitcoin, while the system handles conversion before settlement. Sellers can opt out if they do not want to accept the payment option.  Crypto.news previously reported that Square began onboarding merchants in July 2025. That report said merchants could keep Bitcoin or convert it into fiat currency, while Lightning supported faster and cheaper payments than many traditional card rails.  Additionally, Block has framed the rollout as part

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