Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

On May 23rd, Analyst Murphy stated that during the market bottoms of the February 2019 and January 2022 bear markets, the count of BTC positions with unrealized losses hit exactly 10.6 million in both instances. If this pattern holds for the current bear market, the corresponding bottom price would land around $60,000. Whenever circulating BTC unrealized losses reach a specific critical threshold, supply-side depletion may occur, causing the price to find support. As of February 5, 2026, when BTC fell to $60,000, the count of unrealized losses was nearly 9.93 million. If this number climbs to 10.6 million (based on BTC’s current chip structure), it would align with the level recorded at the previous bear market’s bottom.

May 23, per Iran's state television, Iran’s foreign minister held a second meeting with Pakistan’s Chief of Army Staff, following prior discussions on an Iranian proposal. A spokesperson for Iran’s Ministry of Foreign Affairs noted that significant divides remain between the U.S. and Iran. Iran’s lead negotiator Karimkhan told Pakistan’s top military commander that “we will not compromise on the rights of our country and nation. Our armed forces have been restructured during the ceasefire.” According to monitoring by PolyBeats (via link: https://t.me/PolyBeats_Bot), on prediction market Polymarket, the probability of the U.S. and Iran reaching a permanent peace agreement is 17% by May 31 and 48% by June 30.

On May 23, U.S. exchange-traded fund (ETF) inflows hit a record high, with year-to-date net inflows topping $852 billion—an all-time peak. The current pace of inflows is 33% higher than it was in 2025, putting ETFs on track for their third consecutive year of growth. The average daily net inflow now stands at $8.5 billion, a sharp jump from just $2.2 billion in 2023. If this momentum holds, U.S. ETF inflows will cross the $1 trillion mark over the next 18 trading days, marking the strongest level of investor demand for the products ever seen.

On May 23, LookOnChain monitoring reveals an OG crypto address that previously earned $34.2 million from Ethereum investments is currently buying the dip. The address purchased 3,942 ETH today at an average price of $2,049 per token, totaling $8.08 million, and may continue accumulating ETH. Ten years ago, this address acquired 12,001 ETH from ShapeShift at an average of $7.58 each. Over a year ago, it sold all those ETH at an average price of $2,856, netting a $34.2 million profit with a staggering 376x return on investment (ROI).

May 23 — Ahead of the China Securities Regulatory Commission (CSRC) announcing plans to impose administrative penalties on cross-border internet brokers Futu and Tiger Brokers on May 22, unusual trading volumes in American stock put options tied to the two firms were spotted on May 7, 19, and 21, per data from public options platforms and market intelligence sources. Peak trading volumes occurred before the official announcement, as financial news outlet StreetInsider flagged abnormal put options activity in FUTU and TIGR at 9:57 a.m. Eastern Time (ET) on May 21. Analytics firm ThetaOwl further reported that Futu’s options expiring on May 22 had a notably high put-to-call volume ratio that same day. Market observers say these trading anomalies suggest funds likely positioned themselves for bearish (short) bets ahead of the news going public, sparking concerns over potential insider trading or premeditated, ahead-of-disclosure trades.

May 23 — The People’s Procuratorate of Cangshan District in Fuzhou, Fujian Province, China, has filed a public prosecution in a Bitcoin theft and illegal profit case. The incident began in late 2020, when Wang entrusted Lin to cash out his Bitcoin holdings, agreeing to pay Lin a commission upon successful completion. But Lin, driven by greed and the mindset that virtual assets are hard to trace, devised a scheme to steal from Wang. With access to Wang’s Bitcoin wallet hard drive and laptop, Lin stole the wallet’s private key and related data, transferring four Bitcoins to his own account and netting roughly 900,000 yuan in illegal gains. Wang only discovered his missing Bitcoin in 2024 while reviewing his assets and immediately filed a police report. Prosecutors with Cangshan District explained that though Bitcoin does not hold the legal status of fiat currency, and financial institutions and non-bank payment providers are prohibited from offering services for cryptocurrency-related a