Bitget UEX Daily | Hormuz Reopening Becomes Negotiation Focus; Nvidia Market Cap Breaks $5.2 Trillion; Storage Stocks All Hit New Highs (April 28, 2026)

I. Key Headlines

Federal Reserve Dynamics

Dalio Warns Stagflation Has Arrived, Rate Cuts Could Damage Fed Credibility

• Bridgewater founder Ray Dalio stated clearly on Monday that the United States is currently in a stagflation phase, with inflation pressures far exceeding targets and becoming more urgent.
• He pointed out that if Jerome Powell’s successor, expected to take over in mid-May, opts for rate cuts, it could undermine market confidence in the Federal Reserve at a critical juncture.
• Market Impact: Stagflation concerns are heightening investor caution toward monetary policy shifts, which may cap near-term upside in risk assets while reinforcing gold and silver as safe-haven instruments.

International Commodities

Hormuz Strait Reopening Emerges as U.S.-Iran Negotiation Focus, Oil Prices Lifted by Geopolitical Risks

• Iranian Foreign Minister Araghchi indicated that the U.S. has requested talks and Iran is considering the request; U.S. Secretary of State Rubio described Iran’s proposal to reopen the strait under strict conditions as “unacceptable.”
• The White House confirmed that Trump’s national security team held a meeting on Monday to discuss the proposals, with reports suggesting Trump himself is dissatisfied with Iran’s latest offer.
• Market Impact: As a vital global oil shipping route, uncertainty surrounding the Hormuz Strait is directly boosting crude oil risk premiums, supporting stronger oil prices and energy sector performance while also intensifying global supply-chain inflation pressures.

Macroeconomic Policies

Bank of Japan to Announce Rate Decision Today, Market Expects Status Quo

• The Bank of Japan will release its rate decision, with Governor Ueda scheduled to hold a press conference at 14:30 JST; interest-rate derivatives are pricing in only a 7% probability of a hike.
• The director of the U.S. Congressional Budget Office warned that, following the Supreme Court ruling limiting Trump’s emergency tariff powers, the federal deficit could rise by $1.1 trillion over the next decade.
• Market Impact: Continued loose-policy expectations from the BoJ, combined with U.S. fiscal deficit pressures, keep carry trades attractive but also serve as a reminder to monitor global policy divergence and its potential spillover effects on the dollar and emerging-market assets.

II. Market Recap

Commodities Forex Performance

• Spot Gold: Up 0.29%, around $4,695 per ounce.
• Spot Silver: Up 0.5%, around $76 per ounce.
• WTI Crude: Up about 0.72%, around $97 per barrel.
• Brent Crude: Up about 0.64%, around $102 per barrel.
• Dollar Index: Down 0.01%, around 98.48, holding in a narrow range amid intertwined Fed policy expectations and geopolitical factors.

Cryptocurrency Performance

• BTC: Down about 1.8% in 24H, currently around $77,463, continuing short-term consolidation but holding firmly above the $77,000 level.
• ETH: Down about 2.7% in 24H, currently around $2,310, showing weak oscillation dragged by broader market weakness.
• Total Cryptocurrency Market Cap: Down about 2.1% in 24H, at approximately $2.66 trillion.
• Market Liquidations: 24H total liquidations around $396 million, with long positions accounting for $277 million.
• Bitget BTC/USDT Liquidation Map: Current price around $77,300; heavy short liquidation clusters sit in the $77.5k–79k range above, with the structure leaning toward an upward short squeeze and short-term bias favoring a continued push to test $78k+. However, failure to hold and a drop below $77k would trigger long liquidations and rapid downside, making $77k the critical pivot level.

• Spot ETF Net Flows: BTC spot ETFs recorded net outflows of about $263 million yesterday; ETH spot ETFs recorded net outflows of $48.4 million yesterday.
• BTC Spot Inflows/Outflows: Net outflow of about $121 million yesterday (inflows $2.276 billion vs. outflows $2.397 billion).

U.S. Stock Index Performance

• Dow Jones: Down 0.13%, around 49,168 points, softening in late trading.
• SP 500: Up 0.12%, around 7,174 points, posting new all-time highs for two consecutive days.
• Nasdaq: Up 0.2%, around 24,887 points, also setting fresh record highs, driven by technology heavyweights.

Tech Giants Performance

• Apple (AAPL): $271.06, down 0.87%
• Microsoft (MSFT): $424.62, up 2.13%
• Google (GOOGL): $344.40, up 1.63%
• Amazon (AMZN): $263.99, up 3.49%
• Nvidia (NVDA): $216.61, up 4.01%
• Meta (META): $675.05, up 2.42%
• Tesla (TSLA): $376.30, up 0.69%

Core Driver: Renewed AI demand has propelled Nvidia and select tech names to new highs, with noticeable differentiation within memory and semiconductor segments; technology stocks overall continue to dominate index gains.

Sector Movement Observations

Storage Sector Surges

• Representative stocks: SanDisk +8.11%, Micron Technology +5.6%, Seagate Technology +1.64%, all hitting record highs.
• Drivers: AI trading enthusiasm fuels DDR5 and new-product shipments, coupled with robust demand expectations.

Rare Earth Sector Strong Rebound

• Representative stock: Critical Metals +25.54%.
• Drivers: $83.5 million acquisition of European lithium company Tanbreez project strengthens rare-earth resource positioning.

Semiconductor Index Mild Pullback

• Philadelphia Semiconductor Index –1%, ending an 18-day winning streak, with 24 component stocks declining.
• Drivers: Overbought signals and divergence from manufacturing data triggering profit-taking.

III. In-Depth U.S. Stock Analysis

1. Nvidia (NVDA) – AI Demand Reignites, Market Cap Hits New High Event Overview: Nvidia shares rose 4% on Monday, closing at $216.61 and pushing market capitalization above $5.26 trillion—more than $1 trillion higher than the world’s second-largest company. Over the past year, the stock has gained 93%, with revenue up 65% year-over-year. Bank of America maintains a Buy rating with a $300 target. Market Interpretation: Institutions believe the AI commercialization validation window is about to open, with this week’s major tech earnings serving as key catalysts. Investment Insight: AI infrastructure demand remains robust; investors should focus on Nvidia’s long-term leadership in computing power.

2. Microsoft (MSFT) – OpenAI Partnership Enters New Phase Event Overview: Microsoft and OpenAI announced the next stage of their cooperation. Microsoft will no longer pay OpenAI revenue shares, OpenAI licenses will become non-exclusive through 2032, and revenue sharing will continue until 2030 but with a cap. Microsoft remains the primary cloud partner, and OpenAI products will continue to launch first on Azure. Market Interpretation: The move strengthens strategic alignment between the two parties while reducing Microsoft’s cost burden; institutions are bullish on cloud-business synergies. Investment Insight: Deeper AI ecosystem integration is expected to drive sustained cloud revenue growth for Microsoft, supporting long-term valuation expansion.

3. Google (GOOGL) – Employees Petition Against Military AI Project Event Overview: More than 580 Google employees (including over 20 executives and DeepMind staff) signed an open letter urging CEO Sundar Pichai to reject classified U.S. Department of Defense AI contracts. The letter will be delivered this week and highlights ethical concerns over using AI tools in physically isolated classified systems. Market Interpretation: Institutions view the move as likely to spark short-term internal governance discussions, but Google’s AI commercialization path remains materially unaffected. Investment Insight: Investors should continue monitoring the balance between corporate ethics and government contracts; long-term AI positioning remains attractive.

4. Critical Metals – Rare-Earth Acquisition Lifts Share Price Event Overview: Critical Metals shares surged 25.54%, primarily driven by an $83.5 million acquisition of the Tanbreez rare-earth project from European lithium company. Market Interpretation: Institutions are optimistic about U.S. and allied rare-earth supply-chain security, leading to asset re-rating. Investment Insight: In an environment of geopolitical supply-chain restructuring, rare-earth resource companies may see structural opportunities.

IV. Cryptocurrency Project Updates

1. 10x Research head of research Markus Thielen noted that Bitcoin’s recent push toward $80,000 has been accompanied by sharply lower trading volume and deeply negative funding rates, raising questions about the sustainability of the rebound. Bitcoin’s weekly volume is 17% below average, Ethereum volume is down 20%, funding rates have fallen 6.8% to the 3rd percentile, and turnover has dropped 33% to the 4th percentile. The current rally has been driven mainly by spot buying or short covering rather than leveraged long speculation. Bitcoin ETFs have seen net inflows for nine consecutive days, totaling $2.5 billion in April, while Bitcoin’s market-cap dominance has risen to 60%. Options-market implied volatility has fallen to the lower quartile of its historical range, with traders pricing relatively muted moves. Ethereum trading volume has declined more than 50%, and derivatives positioning indicates limited risk appetite. Thielen observed that the market has shifted from a highly active trading environment to one where most participants are on the sidelines; historically, low funding rates and low volume reflect hesitation rather than momentum. Nevertheless, with limited leveraged long positions, downside forced-liquidation risk is reduced, and any catalyst could create an asymmetric upside risk-reward in the short term.
2. Fidelity Digital Assets’ latest Q2 2026 Signals report states that although the crypto market is in a consolidation phase, multiple indicators are showing early signs of stabilization. The report notes that Bitcoin remains the market “anchor,” with capital continuing to concentrate in this most liquid asset; its unrealized profit and dominance metrics reflect relative resilience during the range-bound period. Analysts say momentum and profitability indicators are consistent with a “correction phase,” potentially laying the groundwork for a more stable structure. In addition, on-chain activity for Ethereum and Solana has diverged from price action, with network usage demand remaining solid while valuations lag, indicating that underlying protocol-level demand has not weakened.
3. Block, the payments company led by Jack Dorsey, has released its proof of reserves. As of the end of the first quarter of 2026, the company holds a total of 28,355.05 BTC, valued at approximately $2.2 billion. This includes 19,357.16 BTC (approximately $1.5 billion) held on behalf of customers and 8,997.89 BTC (approximately $696 million) held in the company’s treasury.
4. The Solana Foundation announced that its core development teams Anza and Jump Crypto have reached agreement on quantum-resistant solutions for Firedancer, both adopting the Falcon digital signature scheme, and have begun building early versions.
5. Bitcoin mining company MARA’s CEO Peter Thiel announced the establishment of the non-profit MARA Foundation, dedicated to the long-term health, resilience, and adoption of the Bitcoin protocol. The foundation will support research into quantum-resistant tools (such as PQ wallets and the BIP 360 proposal), noting that while quantum computing is not an immediate threat to Bitcoin, network upgrades require time and proactive preparation is essential.
6. U.S. Congressman Nick Begich stated at the Bitcoin 2026 conference that he plans to reintroduce his Bitcoin strategic reserve bill in the coming weeks and will rename the original “BITCOIN Act” as the “U.S. Reserve Modernization Act.”
7. The Avalanche Foundation posted on X that it has joined the DeFi United coordinated effort to support the restoration of rsETH collateral backing.

V. Today’s Market Calendar

Data Release Schedule

Key Event Preview

Tuesday (April 28)

1. Coca-Cola (pre-market), Seagate Technology, Robinhood (after-market) release Q1 earnings.

Wednesday (April 29)

1. Alphabet, Amazon, Microsoft, Meta Platforms release Q1 earnings after the close ★★★★★ (true start of earnings season; AI growth and margin performance will directly determine whether the market can sustain its rally, with extremely high volatility expected).

Thursday (April 30)

1. Federal Reserve FOMC Rate Decision (02:00 Beijing time) + Powell Press Conference (02:30) ★★★★★ (market will focus on the dot plot and rate-cut path; Powell may deliver his final major statement of his term).
2. March PCE Price Index (Fed’s preferred inflation gauge) ★★★★★
3. Apple releases Q1 earnings after the close ★★★★★ (last of the Magnificent Seven; AI and services performance under close scrutiny).
4. Others: Eli Lilly, Western Digital (pre-market); SanDisk (after-market).

Friday (May 1)

1. U.S. Q1 GDP data (first reading to reflect actual Middle East impact on the economy).
2. ISM Manufacturing PMI.
3. Chevron, Exxon Mobil release Q1 earnings pre-market.

Overall Trading Guidance: This week features the dual climax of earnings season and the FOMC meeting. The Magnificent Seven earnings plus PCE data are the core drivers. If AI results beat expectations, risk appetite will be boosted; otherwise, hawkish rhetoric or high inflation could weigh on sentiment. Focus on structural opportunities within big tech.

Institutional Views

Prominent investment-bank analysts generally believe the current market continues to be led by AI-driven technology and semiconductor sectors. Although the Philadelphia Semiconductor Index has ended its winning streak, new highs in market caps for leaders such as Nvidia underscore the enduring resilience of AI commercialization demand. On the geopolitical front, uncertainty around Hormuz Strait negotiations has lifted oil-price risk premiums and supported the energy sector, but it also serves as a reminder to watch for stagflation risks (as highlighted by Dalio). The dollar index remains in a narrow range with relatively stable Fed policy expectations. In crypto, sustained modest net inflows into Bitcoin ETFs continue to provide support, and institutions are constructive that a break above key resistance could spark an altcoin rebound. Overall, short-term volatility may increase, yet the AI theme and commodity supply-demand imbalances remain the primary upward drivers; investors should closely monitor policy implementation and earnings validation windows.

Disclaimer: The above content has been compiled by AI search and only verified for publication by humans; it does not constitute any investment advice.