A recent market breakout has been supported by significant participation and late-session buying, raising questions about its sustainability. According to CoinDesk, while the surge in activity has been notable, the underlying on-chain activity remains weak, casting doubt on the long-term durability of this trend. The market's recent performance has been characterized by a surge in participation, with investors showing increased interest during the late trading sessions. This heightened activity has contributed to a breakout, suggesting a potential shift in market dynamics. However, the lack of robust on-chain activity raises concerns about whether this momentum can be maintained over time. Despite the apparent enthusiasm among market participants, the weak on-chain metrics suggest that the current breakout may not be as stable as it appears. The discrepancy between market participation and on-chain activity highlights the need for caution among investors, as the sustainability of this trend remains uncertain. As the market continues to evolve, the balance between participation and on-chain activity will be crucial in determining the long-term trajectory of this breakout.

On April 16, according to Jin10, Macquarie Bank strategists Thierry Wizman and Gareth Berry highlighted in a report that central banks with the most hawkish stances in response to rising oil prices might revert to pre-war policies if a peace agreement is reached and oil prices remain low. They noted that the Bank of England, and possibly the European Central Bank, have the greatest potential to return to their pre-war positions, as they became notably hawkish since the onset of the U.S.-Iran conflict. Consequently, expectations for these policy rates may become less 'hawkish.'

Analyst Michaël van de Poppe has identified that Bitcoin has entered a historically undervalued zone. According to NS3.AI, this observation comes after the gold-to-Bitcoin value ratio dropped below two sigma. Van de Poppe noted that a shift from gold to Bitcoin is already underway, referencing similar periods in 2015, 2018, 2020, and 2022, which were followed by significant Bitcoin uptrends.

South Korean government ministries are set to trial a blockchain-based digital currency for managing business promotion expenses, replacing traditional credit cards. According to NS3.AI, the Ministry of Economy and Finance is spearheading this initiative as part of its ongoing efforts to integrate blockchain technology into national treasury fund management. This marks the ministry's second attempt at utilizing blockchain, following last month's pilot program that distributed government subsidies as deposit tokens to businesses installing electric vehicle charging stations.

Ripple has announced a new partnership with a Korean insurance company, marking its first such deal in the region. According to CoinDesk, this collaboration aims to facilitate near real-time settlement of Korean treasuries. However, the official statement did not specify any live volume or timeline for the implementation of this service. This strategic move by Ripple highlights its ongoing efforts to expand its presence in the Asian market. The partnership is expected to enhance the efficiency of treasury operations for the Korean insurer, potentially setting a precedent for similar collaborations in the future. While the specifics of the deal remain undisclosed, the focus on real-time settlement aligns with Ripple's broader mission to streamline financial transactions globally. As the company continues to forge new alliances, the financial industry will be watching closely to see how these developments unfold.

トランプ米大統領とパウエルFRB議長は、ある問題をめぐって対立することになりそうだ。それは、トランプ大統領が指名した後任のケビン・ウォッシュ氏を期限内に承認させることができなかった場合、現職のパウエル議長が引き続き留任する権限を持つかどうかという点である。ウォッシュ氏は来週火曜日に上院銀行委員会の公聴会に出席する予定だが、パウエル氏の任期が5月15日に終了する前に議会の承認を得ることは難しいかもしれない。トランプ氏は水曜日、パウエル氏が「期限通りに」退任しなければ解任すると述べた。もしウォッシュ氏の承認がすぐに得られなければ、トランプ氏とパウエル氏が正面から対立する可能性が高まるだろう。この論争は、トランプ氏がパウエル氏が自身の利下げ要求に従わないとして繰り返し非難し、借入コストの引き下げを拒否した同FRB議長を「馬鹿」や「頑固者」と呼んだ直後に発生した。アナリストらは、トランプ氏の最新の攻撃を受けてパウエル氏が理事として留任する可能性が高まったことで、トランプ氏の戦略がウォッシュ氏による中央銀行の改革に向けた取り組みを弱体化させる恐れがあると指摘している。（フィナンシャル・タイムズ）

Tech shares propelled the Nasdaq to 24,016.02 and the S&P 500 to 7,022.95 on Wednesday. According to NS3.AI, Bitcoin reached $75,229, marking a 1.07% increase over 24 hours and nearly a 10% rise over the past two weeks. The market gains coincided with U.S. President Donald Trump's announcement that the US-Iran war was nearing its end, although he noted that the final outcome hinges on a deal between the two nations.

Citi has released a research report indicating that Lens Technology's (06613.HK) first-quarter performance fell short of expectations. According to Jin10, the company's management attributed the weak results to reduced procurement by clients due to rising memory prices and foreign exchange losses. Management anticipates that the impact of foreign exchange will diminish in the coming quarters, with revenue contributions from iOS foldable models starting in May and a potential recovery in Android demand in the second half of 2026. In response to the first-quarter results, Citi has lowered its 2026 net profit forecast for Lens Technology by 13% to 4.36 billion yuan, while maintaining its earnings estimates for 2027 and 2028. The target price for Lens Technology's H-shares has been reduced from HKD 27 to HKD 25, with a "buy" rating, and the target price for A-shares has been adjusted from 32 yuan to 30 yuan, with a "neutral" rating. Despite the disappointing performance in the first half of 2026, Citi believes that Lens Technology could benefit from restocking sentiment for iOS products from late Q2 to late Q3. The bank expresses a preference for H-shares due to better risk-reward potential.

Cosmos SDK's GitHub repository indicates a shift in the licensing of its Enterprise module from the Apache-2.0 open-source license to a 'Source Available Evaluation License.' According to Foresight News, this new license permits only non-commercial evaluation, testing, and educational use, requiring separate commercial licenses for business applications. Greg Osuri, founder of the application chain Akash Network, expressed concerns over this change, stating that Akash can no longer use the module for production or commercial purposes, nor can it offer services based on this component to third parties. Previously, Akash planned to migrate to a shared security layer while maintaining some Cosmos integration for interoperability. However, the new licensing terms make it nearly impossible for Akash to remain within the Cosmos ecosystem, which Osuri describes as a 'hostile' adjustment.

Bitcoin's price increased to approximately $74,935 during the Asian trading session, marking a 0.7% rise over the past 24 hours and a 5.4% increase over the week. According to ChainCatcher, the recent surge is primarily driven by spot trading rather than a broad resurgence in risk appetite. QCP Capital notes that the perpetual contract funding rates for Bitcoin remain negative, and open interest is declining, indicating that short sellers are increasing hedging rather than closing positions passively. The options market also reflects caution, with short-term implied volatility remaining low and the one-month term below the three-month term. The risk reversal indicator shows a higher demand for downside protection compared to upside bets, suggesting traders are more inclined to pay for potential declines rather than chase gains. QCP describes this movement as a "rebound" rather than a trend reversal. On the macroeconomic front, long-term U.S. Treasury yields and gold prices have not confirmed a return to risk appetite, with gold remaining near high levels, indicating ongoing demand for safe-haven assets. Analysts suggest that the current market behavior is more driven by expectations of a ceasefire, leading to an "emotional recovery," rather than the resolution of core risks. Ethereum has shown relative strength, with the ETH/BTC ratio rising to about 0.0315. Additionally, on-chain transaction volume and stablecoin supply have reached historical highs, indicating a potential rotation of funds into high beta assets. However, the market is advised to monitor upcoming risk events to determine the sustainability of this upward trend.

アーサー・ヘイズ：帝国、海峡、そして紙幣印刷機――ビットコインの3つの運命シナリオ　ゴールデン・ファイナンス、ホルムズ海峡の3つのシナリオがビットコイン価格に与える影響

デンマークにおける暗号資産の普及率は依然として欧州で最も低い水準にあり、デジタル資産を保有している国民はわずか4%にとどまっている。これは、普及率が10%を超えることが多い近隣諸国に比べて大きく遅れている。

計算力トークンはAI時代の価値基準を再構築しつつあるが、その透明性や価値は依然として不透明であり、AI業界は依然として、結果に真に価格を付けることのできる基準を模索している。

GoogleはmacOS向けのネイティブ版Geminiアプリをリリースしました。これにより、Macユーザーはキーボードショートカットを使って、デスクトップから直接AIアシスタントに素早くアクセスできるようになります。このアプリを使えば、画面上の内容を分析したり、ファイルを操作したり、アプリを切り替えることなくGeminiを利用したりすることができ、日常のワークフローに組み込むことを目指しています。

どのような企業であれ、かつてどのような事業を展開していたとしても、AI企業として再定義することは可能だ。ストーリーが十分に魅力的であれば、資本はそれに投資するだろう。

量子コンピューティングにおける理論的な進展は、予想を上回るスピードで進んでいる。これは紛れもない事実である。しかし、「理論的な進展が加速している」ということは、「攻撃ツールがすでに準備できている」ということとは同義ではない。量子コンピューティングは依然として、物理、工学、コストという3つの側面において根本的な課題に直面している。

ある情報筋によると、WLFIの実質的な運営者は、著名な華人投資家であるという。

ウォッシュ氏が順調にFRB議長に就任すれば、その政策は「厳格な金融規律、デジタル金融への開放、明確な規制枠組み」という組み合わせとなり、暗号資産を「ニッチな投機対象」から「主流のコンプライアンス対応資産クラス」へと転換させることになるだろう。

経済を真に救う唯一の道は、民間部門が主導し、技術革新によって牽引される爆発的な経済成長である。

「アテンション・エコノミー」の時代において、物語そのものが資産となります。しかし、その価値は、誰かがそれを信じる時にのみ存在します。