Key TakeawaysFunding rates across major centralized and decentralized exchanges are broadly below the 0.005% bearish threshold, signaling market-wide net short positioning, per Coinglass dataThe bearish funding environment persists even as Bitcoin holds around $77,000, indicating traders are fading the current price level rather than chasing upsideNegative funding rates create structural conditions for a short squeeze if a catalyst pushes price higher, but also confirm weak underlying bullish convictionFunding rates across major centralized and decentralized crypto exchanges are signaling broad bearish market sentiment on May 1, with Coinglass data showing rates below the bearish threshold of 0.005% as Bitcoin experiences a slight decline.The benchmark funding rate is 0.01%, representing a neutral market. Readings above that level indicate net bullish positioning, while rates below 0.005% reflect a market dominated by short sellers. Current readings across major venues fall into the bearish category, confirming that traders are predominantly positioned for further downside or at minimum are unwilling to pay a premium to hold long exposure at current levels.The funding rate signal adds another data point to an increasingly cautious on-chain and derivatives picture. CryptoQuant's Bull Score Index fell from 50 to 40 in April, the Short-Term Holder SOPR 30-day average has turned positive -- historically a resistance signal in bear markets -- and April's rally has been characterized as futures-driven with contracting spot demand. Persistently negative funding rates across both CEXs and DEXs now confirm that the derivatives market remains structurally net short despite Bitcoin trading around $77,000.The dynamic cuts both ways. While negative funding confirms weak bullish conviction, it also sets up the conditions for a short squeeze if an external catalyst -- a geopolitical breakthrough on Iran, a dovish Fed signal, or a strong macro data print -- forces short sellers to cover rapidly. The depth of negative funding across venues suggests the squeeze potential is meaningful if Bitcoin can break and hold above the contested $79,000 resistance level.

Federal Reserve official Kashkari has expressed concerns that the prolonged closure of the strait could lead to significant price shocks, potentially threatening inflation expectations. According to ChainCatcher, Kashkari emphasized the necessity for a strong policy response to address these risks.

According to ChainCatcher, Federal Reserve official Harker has stated that given the current economic outlook, the Federal Reserve's 'clear easing bias' is no longer appropriate. This shift in stance reflects changes in the economic environment, suggesting a potential reevaluation of monetary policy strategies.

The U.S. employment market is nearing full employment, according to Federal Reserve official Hamak. This assessment highlights the current strength of the labor market, reflecting ongoing economic recovery efforts.

PANews posted on X (formerly Twitter). Tether has released its financial results for the first quarter of 2026, revealing a net profit of approximately $1.04 billion. The company's excess reserves have increased to $8.23 billion, further enhancing the security of USDT reserves. As of March 31, Tether's total assets amounted to approximately $191.77 billion, with total liabilities around $183.54 billion, resulting in assets exceeding liabilities by about $8.23 billion. Of the liabilities, approximately $183.44 billion corresponds to issued digital tokens. In terms of reserves, Tether continues to focus on short-duration, high-liquidity assets, holding approximately $141 billion in U.S. Treasury bills directly and indirectly. Additionally, the company holds around $20 billion in physical gold and approximately $7 billion in Bitcoin. Tether CEO Paolo Ardoino emphasized that the company's core objective is to ensure the stable operation of USDT in any market environment without relying on external support.

Tether released its Q1 2026 audit report, showing net income of approximately $1.04 billion. As of March 31, 2026, Tether's excess reserves reached a record high of $8.23 billion. The company's total assets are currently approximately $191.8 billion, and total liabilities are approximately $183.5 billion, resulting in assets exceeding liabilities by $8.23 billion. Regarding reserve allocation, Tether directly and indirectly holds approximately $141 billion in U.S. Treasury securities, in addition to approximately $20 billion in physical gold and $7 billion in Bitcoin. Tether CEO Paolo Ardoino stated that the company's goal is to ensure the stability of USD₮ under all market conditions by maintaining a simple structure and extremely high liquidity to cope with macroeconomic fluctuations.

Key Takeaways The 30-day moving average of Bitcoin's Short-Term Holder SOPR has turned positive for the first time in six months, per CryptoQuant analyst DarkfostShort-term holders are now at or slightly above breakeven on average -- a level that historically acts as resistance in bear markets as holders exit to recover lossesThe development adds to existing on-chain caution signals including CryptoQuant's Bull Score Index falling to 40 and April's rally being identified as futures-driven rather than spot-led Bitcoin's short-term holders have turned profitable for the first time in approximately six months, a development that crypto analyst Darkfost flags as a potential resistance signal rather than a bullish confirmation. The 30-day moving average of the Short-Term Holder Spent Output Profit Ratio -- which measures whether coins moved on-chain are being sold at a profit or loss relative to their acquisition price -- has crossed back above 1.0, indicating that short-term holders are on average at breakeven or marginally in profit, according to CryptoQuant data cited by Darkfost on May 1. The timing matters. In bear market conditions, the point at which short-term holders return to profitability has historically acted as a resistance zone rather than a springboard for further gains. Holders who have been underwater for months and finally see green tend to exit positions to recover capital rather than hold for additional upside -- creating a supply overhang at precisely the level where buying momentum might otherwise be expected to accelerate. The signal aligns with a broader set of on-chain caution flags that have emerged in recent days. CryptoQuant's Bull Score Index fell from 50 to 40 in April despite the price increase, entering territory historically associated with continued weakness. A separate CryptoQuant report identified April's rally as futures-driven with contracting spot demand -- a structural combination that the firm compared to conditions at the start of the 2022 bear market. Bitcoin is currently trading around $77,000, having failed to sustain moves above $79,000 on three separate attempts in the past two weeks. The short-term holder SOPR turning positive at current price levels suggests that the $77,000--$79,000 zone may be where a significant cohort of recent buyers are looking to exit -- adding a behavioral finance dimension to the technical resistance that has already repeatedly capped the rally.

Building a 10,000 XRP position currently requires an investment of approximately $15,000, a significant increase from around $5,000 a few years ago. According to NS3.AI, an AI-powered Monte Carlo simulation has projected that XRP could be valued between $1.04 and $3.40 in 60% of scenarios by the end of 2026, with a median outcome of $1.88.

Neel Kashkari, a Federal Reserve official, stated that prior to the outbreak of war, he believed inflation might decrease and that another rate cut could be necessary this year. According to Jin10, Kashkari noted that the situation in March was not significant enough to warrant a change in the policy statement.

Federal Reserve official Hammack has highlighted the widespread nature of inflation pressures, noting that rising energy prices are contributing to the overall increase. According to Jin10, Hammack emphasized the impact of energy costs on the broader economic landscape, suggesting that these factors are playing a significant role in the current inflationary environment.

The market won't remain ambiguous forever. Catalysts often appear unexpectedly.

For entrepreneurs aspiring to work in the Web3 field, it is recommended to rationally assess the potential risks of their startup projects and make prudent decisions after fully understanding domestic laws and market policies.

There is a well-known crypto KOL, whose online name is ThreadGuy. He rose to fame in 2021 for teaching people how to trade NFTs.

Pave a path for AI to move from its unregistered status in the sandbox to becoming a formal employee on the blockchain.

The assets truly adopted by DeFi are not the largest government bonds, but credit assets with more positive yield spreads.

Artificial intelligence, Apple, technology, Naval: Apple is dead, SaaS is the next big thing. Golden Finance: What does your company have that AI can't replicate?

While Aave, the leading DeFi lending platform, is mired in the Kelp DAO hack, another established protocol, Sky, has not only attracted the attention of whales with real money, with its TVL surging by more than 25% in the past two weeks, but has also taken advantage of the momentum to launch two major initiatives.

Last night, DeepSeek multimodal researcher Chen Xiaokang tweeted on X, announcing DeepSeek's new paper on multimodal technology, "Thinking with Visual Primitives," and saying "Excited to release."

Cryptocurrency, the crypto market, it's too difficult—crypto becomes the most censored topic on X. Jinse Finance: What have the KOLs in the crypto circle been talking about in the past 24 hours?

Jinse Finance launches its cryptocurrency and blockchain industry daily news report, "Jinse Morning 8," issue 3043, providing you with the latest and fastest news on the digital currency and blockchain industry.