US equities extended their gains on Tuesday after inflation data came in cooler than expected. The Consumer Price Index rose just 0.2% in April, bringing the annual rate to 2.3%, slightly below the 2.4% forecast. The S&P 500 gained 0.72% (42 points) to close at 5,886, fully recovering losses from earlier in the year. The Nasdaq jumped 1.61%, boosted by strong performances in tech, while the Dow Jones lagged, falling 0.64% amid a nearly 18% plunge in United Health following the withdrawal of its 2025 guidance and CEO resignation. Coinbase soared 24.75% after being selected to join the S&P 500. In trade, sentiment was buoyed by a US–China agreement to temporarily slash tariffs for 90 days, easing tensions that had persisted since April. Bond yields were steady despite the CPI surprise, while the US dollar dropped 0.70%, supporting commodities and risk assets.
In crypto, the global crypto market cap increased 3% in 24h to $3.38tn. The total crypto market 24h volume decreased 17% to $148bn. Bitcoin is up 1.2% in the past 24h, currently trading around $103.7k, while Ether is up over 8.5% in the past 24h, trading around $2,650.
In the past 24 hours, crypto liquidations decrease 50% and totaled $365.65m, with 67% of them short positions. ETH positions made up 43% of all liquidated positions, totaling $157.83m in liquidated positions, more than 3x the liquidated BTC positions.
Ethereum's market capitalization hit $323 billion, surpassing that of Alibaba.
Jack Mallers' Twenty one Capital bought $458 million Bitcoin.
According to data from SoSo Value, U.S. Bitcoin spot ETFs recorded a net outflow of $96.14 million on May 13, 2025, marking the largest daily withdrawal since early April. Despite a modest gain in Bitcoin’s price, no ETF registered positive flows. BlackRock’s IBIT, which had led inflows in recent weeks, posted zero net activity, while Fidelity’s FBTC led outflows at –$91.39 million. Bitwise’s BITB, Grayscale’s GBTC and BTC, and Invesco’s BTCO also recorded flat flows. The day’s total reflects a reversal in sentiment after Friday’s strong inflows and suggests increasing caution among institutional investors despite favorable price action.
US spot Ether ETFs reversed course again on May 13, 2025, this time logging a net inflow of $13.37 million. The gains were led by Grayscale’s ETH fund, which added $7.36 million, followed by smaller inflows into VanEck’s ETHV ($2.95 million) and Franklin’s EZET ($3.06 million). All other funds posted flat flows. The return to positive territory came amid a 9.4% surge in ETH’s price, pushing total assets across ETH ETFs above $9.2 billion. While modest, the inflow hints at improving sentiment surrounding ETH.
Tether is launching its gold-backed digital asset, Tether Gold (XAUT), on the Thai cryptocurrency exchange MaxBit, following the country's approval of stablecoins like USDT for regulated trades.
Robinhood is acquiring WonderFi, a Canadian crypto firm, for $179 million to expand its global presence and accelerate its mission in Canada with its two regulated crypto trading platforms.
The Democratic Party in South Korea has launched a digital asset committee to develop cryptocurrency policies and promote industry growth, joining other organizations in addressing regulatory uncertainty and stabilizing the market for US-dollar stablecoins.
The Black Mirror Experience is a blockchain-based crypto game inspired by the British sci-fi series, where players' social and blockchain activities are rated by an AI virtual assistant, unlocking rewards or penalties based on their reputation score, raising concerns about data privacy, AI bias, and the potential for performative behavior.
According to a CoinTelegraph article and Glassnode data, Bitcoin's illiquid supply has surged to a record 14 million BTC, marking the largest 30-day increase in the current bull market, as investors and whales continue to accumulate and hold onto their assets in anticipation of long-term price appreciation.
Arizona Governor Katie Hobbs vetoed two cryptocurrency-related bills that aimed to expand the state’s involvement in digital assets, including proposals to establish a Digital Assets Strategic Reserve Fund and to invest up to 10% of treasury and retirement funds in Bitcoin. Hobbs cited concerns over crypto market volatility and the risk to public funds, also rejecting a bill that would have allowed state agencies to accept crypto payments for taxes and fees. However, she signed a separate bill introducing stricter regulations for Bitcoin ATMs, signaling a cautious stance on crypto adoption while supporting targeted oversight measures.
Brave browser has integrated the Cardano blockchain into its wallets, enabling users to access the Cardano blockchain and manage its tokens directly.
According to blockchain analytics firm Elliptic, Colorado-based firm Xinbi Guarantee has been linked to a Chinese illicit marketplace facilitating $8.4 billion in Tether transactions for Southeast Asian scammers involved in pig butchering schemes.