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11 May 2026, 19:44

Evening digest: Trump says Iran ceasefire on life support, Oil tops $104

Global markets faced renewed uncertainty on Monday after US President Donald Trump said the ceasefire with Iran was on “massive life support,” sending crude oil prices sharply higher as concerns over disruptions in the Strait of Hormuz intensified. Meanwhile, Bitcoin held steady above the $80,000 level as investors monitored progress on a major US crypto regulation bill. Indian jewellery stocks, including Titan Company, Senco Gold, and Kalyan Jewellers, fell sharply after Prime Minister Narendra Modi urged consumers to avoid buying gold jewellery for a year to help preserve foreign exchange reserves. Trump rejects Iran ceasefire proposal Tensions in the Middle East escalated again on Monday after US President Donald Trump said the ceasefire between the US and Iran was on “massive life support,” raising concerns that the 10-week conflict could continue disrupting global energy markets and shipping routes. Speaking in the Oval Office, Trump described Tehran’s latest response to a US peace proposal as a “piece of garbage” and said he “didn’t even finish reading it.” A Bloomberg report said citing a person familiar with the discussions, Iran’s proposal called for the lifting of Washington’s naval blockade and sanctions relief, while preserving a degree of Iranian control over traffic through the Strait of Hormuz. Trump did not clarify whether the US would resume direct military action against Iran, though he told Fox News earlier in the day that his administration was considering reviving plans to escort ships through the waterway. “There’s no pressure at all,” Trump insisted on Monday. “We’re going to have a complete victory.” The latest developments underscore the continuing difficulty in reaching a diplomatic resolution to the conflict, which has strained relations between Washington and Beijing ahead of Trump’s planned meeting with Chinese President Xi Jinping later this week. Oil prices climb as Strait of Hormuz disruption continues Crude oil prices rose sharply as investors reacted to renewed uncertainty around the conflict and the continued disruption of shipping through the Strait of Hormuz. Brent crude settled up $2.92, or 2.88%, at $104.21 per barrel after reaching an intraday high of $105.99. US West Texas Intermediate crude rose $2.65, or 2.78%, to settle at $98.07 per barrel after briefly crossing the $100 mark. The gains reversed sentiment from last week, when both benchmarks had posted losses of around 6% amid hopes that a ceasefire agreement was close. Shipping activity through the Strait of Hormuz remains severely restricted, with Iran deploying Ghadir-class submarines in the Persian Gulf, according to Tasnim news agency. The disruption has already begun affecting global oil flows. Reuters reported that OPEC oil output fell by 830,000 barrels per day in April to its lowest level in more than two decades as exports through the strait were curtailed. Bitcoin steadies as crypto investors await Senate action The cryptocurrency market was comparatively stable on Monday despite broader geopolitical tensions, with Bitcoin holding above the $80,000 level. Bitcoin traded slightly higher at around $81,561 as investors focused on potential regulatory developments in Washington. Other major cryptocurrencies were mixed. Ethereum and XRP declined, while Solana posted modest gains. Investor attention is now turning toward the Senate Banking Committee, which is expected to conduct a markup this week on the proposed Clarity Act, a broader bill aimed at regulating the cryptocurrency industry. The legislation would still require 60 votes to pass the full Senate, but market participants are closely watching the level of bipartisan support emerging from committee discussions. Indian jewellery stocks tumble after Modi urges gold restraint Indian jewellery retailer stocks fell sharply after Prime Minister Narendra Modi urged consumers to avoid buying gold jewellery for a year in order to help conserve foreign exchange reserves and support the rupee. Shares of Titan Company, Senco Gold, and Kalyan Jewellers declined between 6% and 9% as investors worried about weaker demand and the possibility of future policy tightening targeting gold imports. India imports nearly all the gold it consumes, making the sector highly sensitive to changes in government policy and external trade pressures. The market reaction reflected concerns that policymakers could eventually consider higher import duties or additional restrictions if pressure on the rupee intensifies further. A government source said there were currently no plans to increase import duties on gold or silver, though investors remained cautious. The post Evening digest: Trump says Iran ceasefire on life support, Oil tops $104 appeared first on Invezz

11 May 2026, 19:30

S&P 500 firm Corpay adds 24/7 stablecoin settlement for 800,000 clients

S&P 500 payments business Corpay has today announced it is integrating stablecoin wallets and settlement into its global platform. This will give its +800,000 business clients payment rails that are open 24 hours a day, seven days a week, excluding bank holidays and weekend cutoffs. The integration comes via a partnership with BVNK, a stablecoin infrastructure provider. Corpay customers will be able to keep stablecoin balances alongside their fiat currencies. They’ll be able to send, receive, store and convert stablecoins, all without ever leaving the Corpay interface, according to the release. Corpay (NYSE: CPAY) processes +$12 billion in corporate payments each month. It also handles ~$26 billion in foreign exchange volume across over 145 currencies. The Canadian company plans to wire stablecoin rails into its own treasury operations too. This will cut its dependence on pre-funded accounts and speed up fund movement across its global network. “At our scale, the ability to move liquidity quickly and reliably is critical,” said Mark Frey, Group President of Corpay Cross-Border Solutions. “Stablecoins introduce a 24/7 settlement capability that strengthens our existing infrastructure. BVNK provides the technology and compliance framework we need to deliver this securely and at scale.” Jesse Hemson-Struthers, BVNK’s CEO, said Corpay’s reach makes the company a strong partner for pushing stablecoin payments into broader corporate adoption. He added, “Together, we’re enabling faster, more efficient ways for businesses to move and manage money across borders.” BVNK attracts Mastercard, Visa, and Citi Mastercard announced plans to acquire the company in a deal that could reach $1.8 billion by the time it closes at the end of 2026. Mastercard CEO Michael Miebach cited BVNK’s network of stablecoin stakeholders, liquidity providers, and hard-to-get licenses as the primary reasons for the purchase. He discussed the acquisition during the company’s Q1 2026 earnings call. Visa Ventures, the investment arm of Visa, has invested in BVNK. Citigroup started backing BVNK in October 2025, according to Cryptopolitan . Arvind Purushotham, head of Citi Ventures, said that stablecoins are becoming more popular as a way to settle on-chain and crypto deals. He called out BVNK’s enterprise-grade infrastructure as a draw. BVNK co-founder Chris Harmse said that the demand for stablecoin infrastructure has surged. The U.S. represents the company’s fastest-growing market. He pointed to the passage of the GENIUS Act as a catalyst for institutional confidence. Stablecoins expand corporate payments integration The Corpay deal lands as stablecoins continue to expand beyond crypto native use cases. Dollar pegged stablecoin supply has reached $301 billion, according to data from CoinGecko. Tether’s USDT accounts for $189.6 billion of that total. Circle’s USDC sits at ~$77 billion. Visa recorded a $7 billion annual run rate in stablecoin settlement volume during its most recent earnings call. That figure jumped +50% quarter over quarter. The card network now has +160 stablecoin card programs running globally with partners including Rain, Reap, and Bridge. Citi raised its stablecoin market forecast in September. The bank projected the sector could hit $4 trillion by 2030 under a bullish scenario, up from earlier estimates of $1.6 trillion and $3.7 trillion, per Cryptopolitan. If you're reading this, you’re already ahead. Stay there with our newsletter .

11 May 2026, 19:30

USD/CAD Holds Steady as Neutral RSI and Soft ADX Signal Trader Indecision

BitcoinWorld USD/CAD Holds Steady as Neutral RSI and Soft ADX Signal Trader Indecision The USD/CAD currency pair continues to trade in a narrow range, with technical indicators pointing to a lack of strong directional momentum. As of the latest session, the pair is hovering near key support and resistance levels, while the Relative Strength Index (RSI) remains in neutral territory and the Average Directional Index (ADX) registers a soft reading. This combination typically suggests that traders are waiting for a clearer catalyst before committing to a breakout or breakdown. Understanding the Technical Signals The RSI, a momentum oscillator that measures the speed and change of price movements, is currently reading near the 50 level. A reading above 70 is considered overbought, while below 30 is oversold. The neutral reading indicates that neither buyers nor sellers have seized control. Meanwhile, the ADX, which measures trend strength regardless of direction, is below 25, signaling a weak or absent trend. When both indicators align in this way, the market is often described as being in a consolidation phase. For USD/CAD, this means that the recent price action has been driven more by noise than by conviction. The pair has been oscillating between the 1.3500 and 1.3600 levels, with no clear break in either direction. Traders are closely watching for any fundamental triggers—such as shifts in oil prices, Bank of Canada policy signals, or US economic data—that could provide the necessary momentum. Market Context and Key Levels The lack of direction in USD/CAD comes against a backdrop of mixed global signals. Crude oil prices, which often influence the Canadian dollar due to Canada’s status as a major oil exporter, have been volatile but without a sustained trend. Meanwhile, the US dollar index has shown similar indecision, reflecting uncertainty about the Federal Reserve’s next move on interest rates. From a technical perspective, the immediate support for USD/CAD lies at 1.3480, a level that has held multiple times in recent weeks. On the upside, resistance is seen at 1.3620, where the pair has failed to close above on several attempts. A break above or below these levels could signal the start of a new trend, but until then, the neutral RSI and soft ADX suggest that range-bound trading is likely to persist. What This Means for Traders For forex traders, the current environment calls for patience. Entering positions in a low-momentum market carries the risk of false breakouts and whipsaws. Many professional traders are adopting a wait-and-see approach, preferring to enter only when the ADX rises above 25 and the RSI moves decisively away from 50. Until then, short-term scalping strategies may offer limited opportunities, but the risk-reward profile remains challenging. Conclusion USD/CAD is stuck in a technical no-man’s land, with neutral momentum indicators confirming the absence of a clear trend. While the pair remains within its established range, traders should watch for a breakout above 1.3620 or a breakdown below 1.3480 as potential entry points. Until then, the market is likely to continue drifting, awaiting a fresh catalyst to break the deadlock. FAQs Q1: What does a neutral RSI mean for USD/CAD? A neutral RSI reading near 50 indicates that the pair is neither overbought nor oversold, suggesting that momentum is balanced between buyers and sellers. It often precedes a period of consolidation or a pending breakout. Q2: Why is a soft ADX important in forex trading? The ADX measures trend strength. A reading below 25 signals a weak or absent trend, meaning the market is range-bound. Traders often avoid trend-following strategies during such periods and may use range-trading techniques instead. Q3: What could break the current USD/CAD stalemate? Key catalysts include changes in oil prices, Bank of Canada interest rate decisions, US economic data releases (such as employment or inflation reports), or unexpected geopolitical events. Any of these could provide the momentum needed for a breakout. This post USD/CAD Holds Steady as Neutral RSI and Soft ADX Signal Trader Indecision first appeared on BitcoinWorld .

11 May 2026, 19:20

ICBA Warns Kraken OCC Charter Bid Threatens US Bank Deposits and Financial Stability

Community bankers are pushing back hard now that crypto exchanges are applying for national trust bank charters, with the Independent Community Bankers of America (ICBA) calling the move a threat to financial stability and consumer protections. At the same time, other bankers are concerned with the CLARITY Act and stablecoins. ICBA Tells OCC to Rescind

11 May 2026, 19:00

America's biggest banking lobby is making a last-minute push to block stablecoin reward provisions

America’s biggest banking lobby, ABA, is making a desperate attempt to change a crypto bill just days before a key Senate vote. The head of the American Bankers Association, Rob Nichols, sent a letter late Sunday night to bank executives across the country. He asked them to call their senators before Thursday. He stated in the letter that it was “urgent advocacy fight that requires your immediate engagement”. He warned that if the bill got the green light, the money would drain out of the traditional banks into the crypto world. Nichols said the bill fails to stop crypto companies from offering what he called “interest-like rewards” on stablecoins, digital currencies tied to the value of regular money. “Without additional changes, we believe the current proposal would unnecessarily incentivize the flight of bank deposits into payment stablecoins, putting both economic growth and financial stability at risk,” he wrote, while also acknowledging that the ABA does support putting some form of crypto rules in place. The Senate Banking Committee is scheduled to hold a markup session on Thursday, May 14, at 10:30 a.m. ET on the Digital Asset Market CLARITY Act of 2025. If passed, the bill would be the first law to set up a full federal system for regulating the crypto industry. SEC and CFTC will split the oversight to mainly decide which digital tokens are securities and which fall in commodities. Last year in July, the House already passed its own version of the bill 294 to 134. The Senate version will still need to be aligned with separate language from the Senate Agriculture Committee before it can go to a full floor vote. This is not the first time the bill has come close. The committee had planned a markup back in January. However, it was called off at the last moment because Coinbase, one of the biggest crypto exchanges in the country, backed out over concerns about how stablecoin rewards would be treated. A compromise that satisfied Coinbase but not the banks After months of talks between lawmakers, the White House, crypto firms, and banking groups, Senators Angela Alsobrooks of Maryland and Thom Tillis of North Carolina put forward a compromise on May 2. Their language bans “covered parties” from paying any form of interest or yield to U.S. customers just for holding stablecoins, or anything that works the same way as interest on a bank deposit. However, rewards tied to actual activity or transactions would still be allowed. Coinbase accepted the compromise, as reported by Cryptopolitan previously. The banks did not. On May 8, a coalition of financial trade groups wrote to Banking Committee Chair Tim Scott and senior Democrat Elizabeth Warren, asking for technical changes to the language. They said it remains unclear whether certain practices would be permitted, for example, paying a customer a fixed monthly amount for holding stablecoins, with the payment growing as the balance increases. “We are concerned that the proposed language includes exceptions that will enable evasion of the intended prohibition,” the groups wrote. The White House hit back. Patrick Witt, the administration’s top crypto adviser, said on X that he had personally invited Nichols and other bank CEOs to meetings in February to work through the issue. “They refused,” Witt wrote. “I guess the White House was beneath them?” Crypto markets are already voting yes While Washington fights, markets are moving in one direction. Crypto investment products took in $857.9 million last week, the sixth straight week of inflows and the biggest haul since April 24. Bitcoin climbed past $80,000 on Monday, its highest point since February. Total assets under management in the space hit $160 billion. U.S. investors led with $776.6 million in inflows, up sharply from $47.5 million the week before. Bitcoin alone drew $706.1 million, bringing its year-to-date total to $4.9 billion. Bets against Bitcoin saw $14.4 million in outflows, the most this year, suggesting traders are growing more confident the rally holds. Ethereum pulled in $77.1 million, reversing the prior week’s $81.6 million in outflows, while Solana and XRP brought in $47.6 million and $39.6 million, respectively. If you're reading this, you’re already ahead. Stay there with our newsletter .

11 May 2026, 18:40

Analyst Casts Doubt on Widely Held Bitcoin Bottom-in-October Theory

BitcoinWorld Analyst Casts Doubt on Widely Held Bitcoin Bottom-in-October Theory A prominent cryptocurrency analyst has publicly questioned one of the market’s most repeated narratives: that Bitcoin will reach a cyclical bottom in October of this year. Michaël van de Poppe, a well-known figure in digital asset analysis, described the October bottom theory as the ‘most overextended view’ currently circulating in the market. Why the October Bottom Theory Faces Skepticism In a post on X, van de Poppe argued that when a market expectation becomes too widely shared, its likelihood of materializing diminishes. He pointed to the current price structure of Bitcoin, describing it as forming a ‘very strong’ base, and emphasized that the broader market environment today differs significantly from the 2022 bear market. ‘I don’t see a repeat of the same outcome as in the past,’ he stated, directly challenging the notion that history will simply rhyme. Bullish Factors Supporting a Different Outcome Van de Poppe outlined several developments that he believes support a more constructive outlook for Bitcoin, diverging from the pessimistic bottom-calling narrative. These include the Nasdaq composite index reaching an all-time high, which historically correlates with risk-on sentiment in crypto markets. He also highlighted the upcoming vote on the CLARITY Act, a piece of U.S. legislation that could provide regulatory clarity for digital assets. Additionally, he noted the potential for a formal announcement from the White House regarding a strategic Bitcoin reserve, as well as the ongoing discussion around the appointment of the next Federal Reserve Chair, which carries significant implications for monetary policy and liquidity. Market Context and Information Gain The skepticism voiced by van de Poppe adds a layer of nuance to a market narrative that has gained traction among retail and institutional observers alike. The October bottom theory is rooted in historical patterns observed during previous Bitcoin cycles, where prices often found a floor roughly 12 to 18 months after a peak. However, the current cycle has been marked by unique catalysts, including the launch of spot Bitcoin exchange-traded funds in the United States, a shifting regulatory landscape, and macroeconomic conditions that differ from the high-inflation, rising-rate environment of 2022. For readers, understanding that market consensus can be a contrarian signal is valuable, especially when making investment decisions based on timing predictions. Conclusion While the October bottom theory remains a popular framework for forecasting Bitcoin’s price trajectory, experienced analysts like Michaël van de Poppe are urging caution against over-reliance on historical patterns. The combination of strong price support, regulatory progress, and macroeconomic shifts suggests that the current cycle may follow a different path. As always, market participants should weigh expert opinions against their own research and risk tolerance. FAQs Q1: What is the October bottom theory for Bitcoin? The October bottom theory is a market hypothesis suggesting that Bitcoin will reach its lowest price point in October of a given year, often based on historical cyclical patterns observed after previous bull market peaks. Q2: Why does Michaël van de Poppe disagree with this theory? He believes the theory is too widely accepted, which reduces its probability of occurring. He also points to a fundamentally different market environment in 2024, including strong price support, a record-high Nasdaq, and potential regulatory catalysts like the CLARITY Act and a U.S. strategic Bitcoin reserve. Q3: What is the CLARITY Act and how could it affect Bitcoin? The CLARITY Act is a proposed U.S. law aimed at providing clearer regulatory guidelines for digital assets. If passed, it could reduce legal uncertainty for businesses and investors, potentially boosting institutional adoption and market confidence in Bitcoin. This post Analyst Casts Doubt on Widely Held Bitcoin Bottom-in-October Theory first appeared on BitcoinWorld .