A criminal gang conducted illegal foreign exchange business through virtual currency matching, involving a total amount of over 3.9 billion yuan.

On May 16th, Coindesk analyst Omkar Godbole pointed out that Bitcoin order book data indicates that longs are facing a resistance challenge of $120 million as they try to continue the classic "stair-step" uptrend (that is, a periodic controlled rise). Since April 9th, with the easing of trade tensions and major market participants starting to allocate funds, the Bitcoin price has risen from around $75,000 to $104,000, representing a gain of approximately 38%. In order to further drive the Bitcoin price into the next upward trend leg, longs need to absorb a large amount of selling pressure, especially around $105,000, which constitutes a key resistance area. According to the data platform Kiyotaka.ai, nearly $50 million in sell orders are currently placed at $104,800 across multiple major exchanges, and the selling pressure reaches as high as $70 million at $105,000. Charts show a significant accumulation in the higher price range on the order book, suggesting that profit-taking may o

On May 16th, the new TGE (Alaya AI) subscription of Binance Wallet has come to an end and is now available for claiming.

On May 16th, based on official information, Binance Alpha has launched Alaya AI (AGT).

On May 16th, based on Coinglass data, if Bitcoin drops below $102,000, the cumulative intensity of long liquidation on mainstream CEXs will reach $1.148 billion. Conversely, if Bitcoin rises above $105,000, the cumulative intensity of short liquidation on mainstream CEXs will reach $0.821 billion. BlockBeats Note: The liquidation chart does not disclose the exact number of contracts awaiting liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent liquidation clusters, that is, intensity. Therefore, the liquidation chart shows to what extent reaching a certain price level will affect the market. Higher "liquidation bars" indicate that when the price reaches that level, it will trigger a more significant reaction due to a liquidity cascade.

On May 16th, the Boston Fed of the Federal Reserve stated that due to uncertainties, a rate cut is anticipated this year. The economic growth rate for this year might be 1% or 0.5%. Economic growth is projected to decelerate, but I do not believe a recession will take place. (Xinhua Finance)

On May 16th, Trump declared that U.S. officials would shortly send letters to various countries concerning the trade agreement matter.