Arthur Hayes: I bet that Bitcoin will surpass $110,000 before retracing to $76,500

On May 11, per HTX market data, SUI has topped $1.20 and is currently trading at $1.24, with a 24-hour price gain of over 18%.

On May 11, per GMGN market data (via https://gmgn.ai/bsc/token/i_m4TE56o8_0x924fa68a0fc644485b8df8abfa0a41c2e7744444), Binance Life—a meme coin built on the BSC ecosystem—has surged more than 21% over the past 24 hours. Its current market capitalization stands at $456 million.

May 10th — Analyst Yashu Gola noted the ETH/BTC exchange rate has fallen over 35% in the past year, with the current trend mirroring a bearish structure from 2024 to 2025, signaling potential further downside. From a technical standpoint, the ETH/BTC pair has traded below a downtrend line since 2022, with multiple failed breakout attempts—one of which led to a nearly 70% drop afterward. In August 2025, it re-tested this trend line, hit resistance, pulled back, and dropped below the 20-month EMA support near 0.034 BTC, indicating sustained bearish dominance. If weakness persists, the next key downside level is around 0.0176 BTC—representing a 40% potential drop from current levels, matching the 2020 cycle low zone. On-chain data shows ETH’s selling pressure risk is rising. CryptoQuant figures reveal that as of May, ETH balances on Binance have climbed to 3.62 million ETH, accounting for ~24.6% of total exchange ETH reserves, while BTC balances on Binance continue to decline. Typic

May 10 (Xinhua) — Iran has formally submitted its response to the latest U.S. proposal to end the war to mediator Pakistan, with the focus on ending the conflict and maritime security in the Persian Gulf and Strait of Hormuz, Iranian news agencies reported Wednesday. Iran’s Student News Agency noted the response centers on those two key priorities. The Islamic Republic News Agency, citing an informed source, confirmed the response was submitted to Pakistan in its mediator role. Pakistan’s Foreign Ministry spokesperson confirmed receiving Iran’s response on Wednesday and immediately forwarding it to the United States. Current negotiations will fully focus on halting hostile actions in the region, per the reports.

May 10th — CryptoQuant analyst Axel Adler Jr says he remains cautious on Bitcoin’s recent price action, framing the current uptick as a corrective rebound after a sharp drop rather than the confirmed start of a new bull market. Adler noted Bitcoin’s recovery from $125,000 to $60,000 but emphasized key on-chain metrics haven’t hit levels seen at historical bear market bottoms. For example, long-term holder (LTH) holdings haven’t shown the typical accumulation pattern tied to market bottoms, and the market hasn’t undergone a full-scale spot sell-off or panic capitulation phase. On the macro front, Adler pointed to mounting pressures: the U.S. Consumer Confidence Index has fallen to a historic low of 48.2, Brent crude hovers near $100 (fueling inflation fears), and the 10-year U.S. Treasury yield has climbed above 4.5% — pressuring risk assets. He added the current rate market no longer bets on a swift Fed rate cut, and is even pricing in the chance of future hikes. Against this

**May 10th: Michael Saylor Touts STRC-Tied Yield Tokens, DeFi-BTC Integration** In an interview on May 10th, Michael Saylor named the integration of Bitcoin (BTC) with decentralized finance (DeFi) as one of the trends he’s most bullish on right now. He noted yield-bearing tokens tied to STRC have surged recently, with some protocols seeing their total value locked (TVL) grow at a rate of $1 million per hour. Saylor added DeFi platforms are already offering 8-11% yield products linked to STRC, and amplifying those returns further with 3x to 5x leverage. He expects the yield token market to evolve into a multi-billion-dollar industry in the coming months. Additionally, he revealed STRC’s current Sharpe ratio stands at 2.5—higher than most traditional credit products, stocks, and hedge fund strategies. “When you take high-Sharpe-ratio assets, tokenize them, and add leverage, you create an entirely new digital financial framework,” Saylor said.