Bitcoin (BTC) continues a weak downtrend, temporarily around $79,630 on May 14. TAC’s cross-chain layer TON side was attacked by an external attacker, with losses of about $2.8 million. Polymarket’s predicted market monthly trading volume in April fell by about 8.9%, the first decline since August 2025.
Macro Events & Crypto Hotspots
1、TON network expansion project TAC disclosed on the X platform that the TON side of TAC’s cross-chain layer was attacked by an external attacker, resulting in losses of about $2.8 million, involving USDT, BLUM, and tsTON. The TAC token, TON, and all ERC-20 tokens bridged from Ethereum are unaffected. The cross-chain bridge is still suspended, and a detailed analysis report will be released within 48 hours. The team is working with law enforcement to trace the stolen funds, planning to fully compensate users and restore bridge liquidity through legally structured sales of the TAC token treasury reserves.
2、Polymarket’s predicted market monthly trading volume in April fell by about 8.9%, the first time since August that monthly trading volume declined. The reason is increased market share from competitors such as Kalshi. Based on Dune Analytics data, Polymarket and its trading applications located in the United States had total trading volume exceeding $10.2 billion in April, compared with over $11.2 billion in March.
However, Dune’s data shows Kalshi’s trading volume surged by about 13% in April to about $14.8 billion. The total monthly trading volume for prediction markets also rose from about $26.5 billion in March to about $29.8 billion in April, an increase of about 12.4%.
News Updates
1、Fidelity signals support for the CLARITY bill, saying it provides a “balanced regulatory approach”
2、A user on X claims Claude AI helped them “recover” a lost Bitcoin wallet from nearly nine years ago
3、Microsoft: Mistral AI software download packages were implanted with malicious code, stealing developers’ credentials
4、The Bank of England will accept stablecoin applications, viewing them as “a new form of money”
5、TAC: The TON side of TAC’s cross-chain layer was attacked by an external attacker, losing about $2.8 million
6、Suspected investment fund Gammafund sold 5,555 ETH, earning $2.87 million profit
7、Bitcoin “belief buyers” holdings have increased to nearly 4 million BTC, up 300% since the end of 2025
8、Fidelity International’s first tokenized fund, FILQ, receives Moody’s highest AAA-mf rating
9、Consensys delays a potential IPO to autumn due to an unfavorable market environment
10、Jupiter teams up with Bitwise to launch an institutional-level USDe lending market on Solana
Market Trends
1、Bitcoin latest news: $BTC continues weak selling pressure, temporarily around $79,630. In the past 24 hours, $108 million was liquidated, with longs being the main liquidation;
2、U.S. stocks rose on May 13, with both the S&P 500 and Nasdaq indices setting fresh all-time highs again. A strong rebound in chip stocks lifted the broader market. The market temporarily ignored warnings about warming inflation. Trump leading tech giants to Beijing for talks with Xi Jinping also boosted sentiment. The S&P 500 gained 43.29 points, up 0.6%, closing at 7,444.25; this was the 17th record high this year. The Nasdaq rose 314.14 points, up 1.2%, closing at 26,402.34; this was the 13th record high this year. The Dow Jones Industrial Average fell 67.36 points, down 0.1%, closing at 49,693.20.
3、In the Gate BTC/USDT liquidation map, using the current 79,588.90 USDT as the reference: if it drops to around $79,012, the cumulative long liquidation amount exceeds $297 million; if it rises to around $81,412, the cumulative short liquidation amount exceeds $421 million. The short liquidation amount is significantly higher than the long side; it’s recommended to reasonably control leverage ratios and avoid triggering large-scale liquidations during market fluctuations.
4、In the past 24 hours, BTC spot inflows were $1.89 billion, outflows were $2.1 billion, for net outflows of $210 million.
5、In the past 24 hours, contract trading net outflows led for $UB, $LAB, $CL, $TRUTH, $B , etc., presenting trading opportunities.
Selected Views from X KOL
Phyrex Ni（@Phyrex_Ni）：「I don’t even have the nerve to look at my CLUSDT position now. It’s not because I’m losing money—actually the position has started to be profitable today—but my total cost is still in the red. Mainly because of the funding rate. The long I opened on Sunday, by today the funding rate has already deducted 20% of the principal. Honestly, I really hope that within the next couple of days, we can hear some positive news about WTI. I’m completely stuck and not moving; the funding rate right now is a bit too high.»
「I hope good news can come through as soon as possible. Trump has already arrived in China, and his relationship with Iran should also be one of the things Trump needs to resolve during this visit to China. Especially today, it was also revealed that U.S. intelligence agencies are investigating China selling weapons to Iran—this could increase the difficulty of Trump’s negotiations. But I think Trump and Xi Jinping most likely already know what they need to talk about and the likely response style face-to-face.»
「Trump choosing to continue visiting China likely means he expects to gain good returns. Right now, Trump in the U.S. could be said to be surrounded on all sides. Although U.S. stocks are still rising, anyone can tell it’s being driven by AI. Outside of AI, other industries are not in great shape. U.S. domestic inflation is continuing to rise, and people’s cost of living is also increasing. Trump criticizes Biden’s oil prices—now the oil price is far higher than during the Biden era.»
「High inflation, high interest rates, and high living costs are all very unfavorable for the midterm election, especially with problems appearing in Trump’s tariffs and foreign policy strategy. Trump needs some bonus factor to emerge, and I hope this visit to China can ease Trump’s current predicament. In particular, Trump likely hopes that China will provide support on the Iran issue.»
「Coming back to the Bitcoin data, even though $BTC ’s price has temporarily broken below $80,000, like I’ve always said, there’s nothing wrong with BTC on the data side—everything is very stable. What affects the price mainly is selling by short-term investors, and what affects that selling is macro factors, economic factors, and policy impacts. Personally, I actually think BTC’s reaction to macro data is higher than what we see in the current U.S. stock indices.»
「After all, U.S. stocks have this crazy valuation from AI that lifts the broader index, masking the declines of many small and mid-sized companies. It’s not just small and mid-sized companies either. I’ve always used it as a benchmark—Nike has recently broken its lowest level in nearly 12 years.»
Today’s Preview
1、China M2 money supply at end of April (year-over-year), prior value 8.5%
2、UK preliminary Q1 GDP (year-over-year), prior value 1.0%
3、UK March industrial production (year-over-year), prior value -0.4%
4、UK preliminary Q1 GDP (quarter-over-quarter), prior value 0.1%
5、UK March goods trade balance (million pounds), prior value -18791
6、U.S. April retail sales (month-over-month), prior value 1.7%
7、U.S. weekly initial jobless claims (seasonally adjusted) (thousands) (to 0509), prior value 200
8、Kansas City Fed Chair Schmid speaking on “Payment Innovation and Community Banks”
