The current mainstream CEX and DEX funding rate indicates that the market is no longer bearish on BTC and ETH, but is still bearish on altcoins

May 6 — U.S. President Trump said he believes the U.S. is near a deal with Iran. He added he is unlikely to send Wietckovf and Kushner to take part in the talks. (PBS)

May 6, U.S. President Donald Trump said, "The Iran War is very likely to end. After the war, oil prices could plummet quickly, or they might not — no one knows. If a deal with Iran isn’t reached, we’ll return to the old path." (FXStreet)

On May 6, Bitcoin mining firm Hut 8’s stock price surged more than 32% after the company signed a $9.8 billion lease agreement for an AI data center campus built around NVIDIA’s computing architecture. This marks the first commercialization phase for Hut 8’s Beacon Point data center campus in Nueces County, Texas. The tenant will use the computing infrastructure to support AI training and “hyperscale inference workloads,” per Hut 8. Hut 8 noted the site was initially planned under a speed-to-power underwriting framework to serve its affiliated customer American Bitcoin Corp (ABTC). However, as power demands accelerated and customer needs expanded, the campus was repositioned as AI infrastructure. Hut 8 has pivoted Beacon Point from its original ABTC-focused commercialization path to deliver an AI data center campus with contracted, investment-grade cash flows—marking the first phase of asset-level value creation for the site. On Monday, Hut 8 also released its Q1 financial report

May 6 — Apple has agreed to a $250 million settlement in a class-action lawsuit alleging the company overhyped unfulfilled AI features in new iPhones. Eligible device owners will receive between $25 and $95 in compensation, depending on the final number of claimants. At issue: Apple’s June 2024 announcement of Apple Intelligence, a feature pitched as a rival to OpenAI’s ChatGPT. Plaintiffs representing iPhone buyers claim the AI tool “did not exist at the time, still does not exist now, will not exist for the next two years or longer, and may never exist.” When the iPhone 16 launched in September 2024, the promised Apple Intelligence was missing — as was the enhanced Siri. Post-launch issues persisted: Apple delayed the upgraded Siri’s release in March 2025 due to quality concerns, and Notification Summary (an Intelligence feature) displayed erroneous news articles, leading Apple to disable it entirely.

On Wednesday, May 6, The Wall Street Journal reported that vessels attempting to transit the Strait of Hormuz received a verbal warning from Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy, which stated the waterway remains closed. A Greek shipowner waiting to transit the strait received a recorded message warning all vessels in the Persian Gulf and Gulf of Oman: any ship approaching the strait without authorization or straying from the designated route will be “targeted for action.” Iranian state television noted roughly 1,500 vessels are currently preparing to transit the strait, adding the ships cannot complete their voyages without IRGC Navy approval. (Source: FXStreet)

On May 6, Bitget data shows NVIDIA’s stock climbed 4.58% to $205.50 per share, with a market cap of $500 billion.