MARKETS week ahead: May 31 – June 6Crypto Total Market Cap, $CRYPTOCAP:TOTALXBTFXLast week in the news Moves on financial markets during the previous week reflected a combination of cooling inflation signals, falling energy prices, lower Treasury yields, and continued investor appetite for growth stocks, even as economic growth data pointed to a more mixed macroeconomic backdrop. The S&P500 reached a fresh new all time highest level at 7.580 supported mostly by AI and tech stocks. Other stocks heavily lagged behind these sectors. U.S. Treasury yields slowed down on cooling inflation, returning back toward the 4,45% level. Gold stayed under pressure, moving slowly around the $4,54K level. The crypto market continues to be pressured as investors are weighing macro data, where BTC slipped back toward the $73K level. The key macroeconomic focus last week was the release of U.S. PCE inflation data. The headline PCE Price Index rose by 0.4% in May, slightly below market expectations by 0.1 percentage point, while the annual rate stood at 3.8%. Core PCE increased by 0.2% m/m, indicating relatively moderate underlying inflation pressures. Personal income was unchanged during the month, whereas personal spending advanced by 0.5%. Meanwhile, the second estimate of first-quarter U.S. GDP growth was revised up to 1.6% q/q from the initial estimate of 0.5%, although it remained below the consensus forecast of 2.0%. Nvidia and Microsoft are expected to unveil the first Windows PCs powered by Nvidia-designed processors next week, marking Nvidia’s major expansion beyond AI data-center chips into the consumer PC market. The new devices, expected from Microsoft’s Surface lineup as well as manufacturers like Dell, will likely feature Arm-based chips optimized for AI workloads and improved power efficiency. Analysts are noting that the move could intensify competition with Intel, AMD, and Qualcomm in the next generation of Windows PCs. Oil prices fell sharply over the week, extending losses on growing expectations of a potential U.S.–Iran peace deal that could ease geopolitical supply disruptions. The prospect of a diplomatic breakthrough reduced fears of tight global oil supply, adding downward pressure to crude benchmarks. At the same time, easing energy-driven inflation expectations reinforced the view that macro risks tied to oil prices are cooling. Despite brief volatility, the market remained firmly biased to the downside, with crude on track for a steep weekly and monthly decline. Bloomberg is reporting that Quantinuum is preparing for its IPO with pricing dynamics shifting higher as investor demand proves stronger than expected. According to Bloomberg, the quantum computing company is considering increasing both the number of shares offered and the IPO price range by around 10%, which would lift the total fundraising size. The offering, initially set at about 21 million shares priced between $45 and $50, has reportedly seen orders far exceeding available supply, with indications of multiple times oversubscription. CRYPTO MARKET Another relatively weak week is behind the crypto market, with the majority of major assets remaining under pressure and unable to establish a sustained recovery. Although several individual cryptocurrencies posted strong gains, the broader market continued to consolidate, reflecting a cautious sentiment among investors. Total crypto market capitalization decreased by 1,2% w/w, with a loss of $29B in total market cap. Daily trading volumes were just modestly increased to $147B on a daily basis. Total market capitalization since the beginning of this year currently stands in a negative territory of -16%, with a total outflow of -$472B. Bitcoin declined by 2.0% on a weekly basis, while Ethereum followed with a 1.7% w/w decrease. Despite the modest pullback in the two largest cryptocurrencies, losses were generally contained compared to previous weeks, suggesting that the market may be searching for a near-term equilibrium. Among other large-cap assets, XRP managed to post a 0.8% gain, while DOGE advanced by 0.3%. BNB was one of the stronger performers among major cryptocurrencies, rising 8.3% w/w. On the other hand, Solana declined 1.7%, Avalanche lost 1.8%, and Cardano slipped 2.2%, reflecting mixed sentiment across the large-cap segment. The strongest performer among majors was Stellar, which surged an impressive 68.5% w/w, significantly outperforming the broader market. IOTA also posted a strong gain of 17.2%, while Hyperliquid advanced 15.8% and Algorand gained 14.1%. Additional upside was recorded by BNB (+8.3%) and Ripple (+0.8%), highlighting selective strength despite the generally subdued market backdrop. On the negative side, ONDO recorded the largest decline, falling 17.3% w/w, followed closely by SUI with a 16.8% drop. Zcash lost 11.6% and DASH fell 11.4%. Uniswap (-10.4%) and Maker (-9.9%) also posted notable losses, indicating that weakness remained widespread across many altcoins. Outside of majors, several assets delivered exceptional upside performance. Humanity led the market with a 77% weekly gain, followed by DeXe, who advanced by 33% w/w, placing them among the strongest performers in the broader crypto universe. Circulating supply dynamics showed several notable changes during the week. IOTA and Filecoin recorded the largest increases in circulating supply, both rising by 0.5% w/w. Stellar and XRP each expanded supply by 0.2%, while DOGE, Zcash, Solana and POL recorded 0.1% increases. On the downside, Hyperliquid recorded a slight 0.1% decline. Overall, supply-side developments remained secondary to price action and did not materially influence the broader market direction. CRYPTO FUTURES MARKET Bitcoin futures remained under pressure this week, extending the recent correction with another broad-based decline across the curve. The May 2026 maturity fell by 3.97% w/w, settling at $72,765. Most other maturities recorded losses in a relatively narrow range of 3.10% to 3.16%, indicating a largely parallel downward shift in the term structure. The December 2027 contract closed at $79,860, down 3.15% on the week. Compared with the previous period, the magnitude of losses moderated slightly, suggesting that while bearish sentiment persists, the pace of selling pressure may be easing. Ether futures also moved lower, although the decline was notably less severe than in recent weeks. The May 2026 contract settled at $1,989, declining 3.54% w/w. Across the remainder of the curve, losses ranged between 1.98% and 2.81%, with the June 2026 maturity showing the smallest decline at 1.98%. The December 2027 contract closed at $2,207, down 2.43% on the week. The smaller losses relative to Bitcoin futures suggest that Ether displayed somewhat greater resilience during the latest correction phase. It is also worth noting that November 2026 futures appeared on the curve for the first time this week for both Bitcoin and Ether, with initial pricing at $75,455 and $2,070, respectively. Overall, crypto futures markets remained in a corrective phase, but the pace of declines moderated compared with previous weeks. Both Bitcoin and Ether futures curves continue to exhibit a contango structure, with longer-dated maturities trading at progressively higher levels than near term futures. This suggests that despite ongoing near term weakness, longer term market expectations remain comparatively constructive.