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MARKET WRAP · May 4, 2026 · 21:15 UTC

▲ Ethereum gas limit increased 3.3x for Glamsterdam upgrade, boosting scalability ▲…

MARKET WRAP · May 4, 2026, 21:15 UTC

▲ Ethereum gas limit increased 3.3x for Glamsterdam upgrade, boosting scalability ▲ USD/SGD: Two-way trade with sell-on-rally bias – OCBC ▲ Tom Lee Declares Crypto Spring as Bitmine Buys $238M ETH ▲ Indonesia: Stable inf…

Closing Prices

BTC:

$79,924

· ETH:

$2,350

· SOL:

$84.06

· GOLD:

$4,517

· SPY:

$718.01

(-0.1%) · QQQ:

$672.88

(+0.8%) · VIX:

$18.29

(+7.7%) · TLT:

$84.96

(-0.8%) · DXY:

$98.45

(+0.3%) · OIL:

$105.14

(+3.1%)

Evening News

▲ Ethereum gas limit increased 3.3x for Glamsterdam upgrade, boosting scalability ▲ USD/SGD: Two-way trade with sell-on-rally bias – OCBC ▲ Tom Lee Declares Crypto Spring as Bitmine Buys $238M ETH ▲ Indonesia: Stable inflation outlook with oil risks – UOB ▲ If GameStop buys eBay, Bitcoin payments could suddenly have a 135M-buyer marketplace test ▼ K Wave Media (KWM) Stock Plunges 27% After Abandoning Bitcoin for AI Strategy

Scenario Shifts

▲ Late Cycle: Crypto institutional adoption and infrastructure upgrades suggest continued risk appetite ▲ Goldilocks: Stable Asian inflation outlook supports continued moderate growth ▲ Stagflation: Oil risk warnings from Indonesia suggest commodity pressure building ▲ Displacement: Major crypto infrastructure upgrades and corporate adoption accelerating

Regime Check

Neutral · Neutral

· OVERHEATING · Gauge: 48.1/100

Upcoming — High Impact

US Federal Funds Benchmark Rate — May 15, 07:00 PM UTC (prev: 3.50% - 3.75%) US Retail sales (MoM)(Apr) — May 14, 12:30 PM UTC (prev: 1.7%) US Producer Price Index (YoY)(Apr) — May 13, 12:30 PM UTC (prev: 4.0%) EU GDP(QoQ) (Revised) (Q1) — May 13, 09:00 AM UTC (prev: 0.1%) EU GDP(YoY) (Revised) (Q1) — May 13, 09:00 AM UTC (prev: 0.8%) US Core Consumer Price Index (Unseasonally Adjusted) (YoY)(Apr) — May 12, 12:30 PM UTC (prev: 2.6%)

Contrarian

• Ethereum's gas limit increase might create new centralization risks that the market is ignoring • The crypto spring narrative could be premature given regulatory uncertainties still unresolved agentcanary.ai | Not financial advice