Merz Sees No Signs That War In Ukraine Will End Soon

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Political

Summary:

German Chancellor Friedrich Merz does not see any indication that the war in Ukraine will end soon, while Defense Minister Boris Pistorius urged further action to cut off Russia's financial lifelines.

Friedrich Merz emphasized the importance of Germany playing an "active, supportive, strong" role in Ukraine peace efforts.

German Chancellor Friedrich Merz on Wednesday dampened expectations of a quick end to the war in Ukraine.

"There are currently no signs that this war will end quickly," Merz said in Berlin. However, when mentioning diplomatic efforts to end the war, he referred to the potential mediation of the pope as "the last earthly authority."

Merz said one could only hope that it would at least be possible to bring the conflicting parties together for a constructive discussion in the Vatican. The chancellor also emphasized the importance of Germany playing an "active, supportive, strong" role in the peace efforts.

Trump: 'This is not my war'.

Merz's remarks follow Monday's telephone conversation between US President Donald Trump and Russian President Vladimir Putin.

After the call, Trump wrote that Russia and Ukraine would "immediately start negotiations toward a ceasefire and, more importantly, an end to the war." He also mentioned that the Vatican said it would be very interested in hosting the negotiations.

Trump reiterated his warning that he could abandon the process to seek a ceasefire if there is no progress in the talks. "This is not my war," he told reporters.

On Tuesday, Italian Prime Minister Giorgia Meloni announced that Pope Leo XIV had confirmed the Vatican's willingness to host peace talks between the two sides. The Vatican has not issued a public statement on the matter.

Trump misjudged influence on Putin, Pistorius says.

Meanwhile, German Defense Minister Boris Pistorius said Trump misjudged his influence on Putin.

"I suspect he assessed his negotiating position incorrectly," Pistorius told the Deutschlandfunk public radio broadcaster, referring to Trump's apparently abandoned efforts to pressure Putin into accepting an unconditional 30-day ceasefire.

"Nothing is really happening. It's all new places, new timelines — and it just means Vladimir Putin can continue his attacks on Ukraine. But there is no peace in sight," Pistorius said.

Since the phone call between the Russian and US presidents yielded no progress in the Ukraine peace talks, Europe was prompted to announce new sanctions on Russia.

Pistorius urged further action to cut off Russia's financial lifelines.

"The goal must be to curb the considerable flow of money into Russia's state coffers, which helps finance the war," he said.

The German defense minister argued that only by doing so can the West effectively degrade Russia's ability to sustain its war in Ukraine, citing revenues from Russian oil and gas exports as an example.

Pistorius also stressed the need to bolster Ukraine's rearmament efforts, noting that the country has production capacity in its arms industry but lacks the funding to utilize it fully.

"We will step in together and fill these capacity gaps," Pistorius said.

Source: DW

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Thomas

Cryptocurrency

According to data from Binance, the world's leading cryptocurrency exchange, Bitcoin gained 2.29% on the day, pushing the digital asset past its previous record high.

This rise represents a continuation of the upward momentum we saw throughout the second quarter of 2025. Bitcoin's price steadily rose from its March lows, overcoming several resistance levels with strong trading volume and renewed investor confidence.

Key points:

Daily High: $109,414.44
Daily Low: $106,119.13
Size: 350 Bitcoin
Price increase: +$2,448.76 (+2.29%)

Bitcoin rises to an all-time high above $109,400_1

This latest surge follows weeks of bullish consolidation, with price action forming a clear uptrend since mid-April. Traders point to a combination of institutional interest, limited supply due to the halving effects, and growing macroeconomic uncertainty as catalysts for the rally.

Market sentiment

Technical analysts point out that the bullish candles and increased trading volume indicate strong momentum, which could pave the way for further gains. A senior analyst at Blockview Markets stated, "We are now in uncharted territory. A break above $109,000 opens the door to $115,000 and beyond, assuming this buying pressure continues."

Looking forward

With investor sentiment rising and demand showing no signs of slowing, many in the cryptocurrency community are optimistic about Bitcoin's future trajectory. However, some analysts warn of potential increased volatility as the asset tests psychological resistance levels.

As of press time, Bitcoin is still trading near its new high, cementing its position as the leading digital store of value.

Source: CryptoSlate

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Warren Takunda

Cryptocurrency

Key points:

Bitcoin and gold move higher in step amid jitters over Japan’s debt problem reach “boiling point.”

$108,000 remains a keen target for Bitcoin bulls amid ongoing corporate buying.

Some still see the current BTC price uptrend coming to an abrupt end.

Bitcoin kept up pressure on $108,000 at the May 21 Wall Street open as a trader flagged multiple bearish divergences. Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_1

Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_1

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin joins gold in Japan debt reaction

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near the top of its intraday range as the US trading session began.

After its highest-ever daily close, BTC/USD looked increasingly primed for a rematch with all-time highs just above $109,000. Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_2

Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_2

Fresh concerns over Japan’s national debt offered a boost to both crypto and gold on the day, with the latter reaching $3,320 per ounce, its highest since May 12. Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_3

Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_3

XAU/USD 1-day chart. Source: Cointelegraph/TradingView

“A fresh wave of volatility is gripping Japanese fixed income markets as 30-year Japanese Government Bond (JGB) yields surge past 3%, breaching historic levels and unsettling global investors,” trading firm QCP Capital commented on the issue in its latest bulletin to Telegram channel subscribers.

“Japan’s ballooning debt situation has long been a simmering concern, but it is now reaching a boiling point.”

On Bitcoin, QCP suggested that recent gains had been fueled by corporate accumulation, while breaking all-time highs could reawaken retail interest.

“Price action appears closely tied to treasury accumulation by Strategy and Metaplanet, who remain the headline buyers at current levels. There is growing concern that these entities may represent the last of the marginal bid, particularly with BTC hovering near ATHs,” it continued.

“A slowdown in their buying could trigger profit-taking from other market participants and potentially reverse the prevailing uptrend.”

BTC price trend strength flashes warning

Elsewhere, concerns over trend strength came from the BTC/USD chart itself.

Popular trader Roman, among those taking a conservative view of market structure, warned that Bitcoin’s relative strength index (RSI) was now offering three bearish divergences at once on daily timeframes.

“3 levels of bearish divergences now appearing on RSI. I would expect 101 to be retested before we potentially move higher (or lower),” he told X followers.

“I still have my sights on lower overall but could provide a decent short term entry for both shorts & longs.”BTC/USD 1-day chart with RSI data. Source: Cointelegraph/TradingView

As Cointelegraph reported, there is no shortage of bullish BTC price targets currently in force.

$116,000 is an increasingly popular area once all-time highs are breached, with a $128,000 “blow-off top” also on the radar.

Others have made much loftier predictions, including $220,000 or more in 2025.

Updating his long-term view, trader and analyst Aksel Kibar said that the bull trend “remains intact” this week, with an accompanying chart reiterating a $137,000 target. Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_5

Bitcoin Bulls Grill Sellers as Japan Debt Woes Send Gold Past $3.3K_5

BTC/USD 1-month chart. Source: Aksel Kibar/X

“Despite relentless macro headwinds including surging bond yields, tariff escalations and mounting stagflation risks in the US for Q3 and Q4, BTC has demonstrated remarkable resilience over the past month,” QCP concluded.

“That said, a breakout to new highs could ignite a fresh wave of FOMO, dragging in sidelined retail capital and pushing prices even higher.”

Source: Cointelegraph

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Daniel Carter

Economic

Political

U.S. House of Representatives Speaker Mike Johnson told reporters that negotiators had reached agreement on deductions for state and local taxes -- a major issue for Republican lawmakers from New York and California, who are critical to his narrow majority -- but hardliners continue to argue the bill does not sufficiently cut spending.

"There is a chance for a vote today," Johnson said.

The gate-keeping House Rules Committee at around 1 a.m. EDT (0500 GMT) began debate on a measure that is estimated to add trillions to the nation's $36.2 trillion in debt. Johnson had earlier expressed hope of a floor vote as early as Wednesday. Success in the House would set the stage for what is expected to be weeks of debate in the Senate.

U.S. stocks were slightly lower on Thursday, while yields on federal government bonds rose, as investors showed signs of concern about the nation's growing debt.

Republicans, who control both chambers of Congress, are waiting for their leadership's overall amendment package to the bill that is meant to coalesce the party's sparring factions. Democrats have also proposed more than 500 amendments.

If the legislation is passed by Congress, it would reduce some health and food benefits for low-income Americans, cancel green-energy programs and provide tens of billions of dollars for immigration enforcement.

Trump huddled with Republican lawmakers on Tuesday to try to persuade holdouts to get in line on what he calls a "big, beautiful bill," but the visit failed to sway the wide array of lawmakers who object to specific features.

Johnson has little room for error, as his party holds a narrow 220-212 majority and a handful of "no" votes from his side could scuttle the bill, which Democrats say favors the wealthy and cuts to needed social programs.

The bill would extend the 2017 tax cuts that were Trump's signature first-term legislative achievement, and also add tax breaks on income from tips and overtime pay that were part of his populist push on the campaign trail last year. Nonpartisan analysts say it could add $2 trillion to $5 trillion to the federal debt.

Item 1 of 4 U.S. President Donald Trump gestures next to U.S. House Speaker Mike Johnson (R-LA), on the day of a closed House Republican Conference meeting on Capitol Hill in Washington, D.C., U.S., May 20, 2025.

"Failure is not an option in getting this done," Representative Jason Smith of Missouri, the Republican chairman of the House tax-writing committee, said during the debate on Wednesday that "Americans voted for an America where workers and families will thrive again, Main Street and rural towns will grow again, and America wins again."

Democrats said the bill disproportionately benefits the wealthy and cuts programs needed by working families.

"We're going to ask Americans to finance tax cuts for billionaires on the national debt - on the credit card," said Representative Gwen Moore, a Democrat on the tax-writing committee. "Deficits aside, this bill is ugly because it is ultimately a betrayal of the contract that we have made with the American people, and especially to our babies and to our working people."

The Medicaid health program for low-income households has proven to be a major sticking point, with fiscal hawks pushing for cuts to partly offset the cost of the bill's tax components, which moderate Republicans say would hurt voters whose support they will need in the 2026 midterm congressional elections.

The bill also faces objections from a handful of centrist Republican lawmakers from high-tax states, including New York and California, who are pushing to expand a proposed $30,000 cap on deductions for state and local taxes.

Trump is pushing for unanimous support from Republicans, and said on Tuesday that the holdouts could be drummed out of the party.

The bill would raise the nation's debt ceiling by $4 trillion. Lawmakers must act to address that limit by this summer or risk triggering a devastating default.

Credit rating firm Moody's last week stripped the U.S. government of its top-tier credit rating, citing the nation's growing debt.

If the package passes the House, it would then head to the Senate, where Republicans hold a 53-47 majority. That would not be expected until next month, as members of Congress are preparing to leave Washington next week for a week-long break.

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

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Adam

Cryptocurrency

Bitcoin soared to a new record price above $109,000 on Wednesday morning, pushed by tailwinds that have sent cryptocurrencies and other risk-on assets higher over the past two months.

The largest crypto by market capitalization was recently trading at $109,378 at crypto exchange Coinbase, up 4.5% over the past 24 hours. According to Coinbase, BTC topped out at $109,500 before cooling. Bitcoin is now up nearly 25% over the last month.

"Bitcoin is pushing toward new highs with strong tailwinds behind it—from steady ETF inflows to a broader shift in political tone," Joe DiPasquale, CEO of crypto asset manager BitBull Capital, wrote to Decrypt ahead of the milestone. "We're seeing growing institutional interest and renewed risk appetite across the board."

He added optimistically: "This doesn’t feel like a short-term squeeze—it’s a more sustained bid that reflects a structural shift in how investors are viewing Bitcoin. It’s moving from a speculative trade to a strategic allocation, increasingly seen as a macro asset with long-term relevance, not just a bet on tech or hype cycles."

The latest gains come as investors buoyed by U.S. President Donald Trump's recent retreat from his global trade war and encouraging inflation reports earlier this month have plowed back into risk-on assets. Bitcoin has also benefited as investors have viewed it more as a hedge against macroeconomic uncertainties that have threatened to undermine the value of the U.S. dollar.

Bitcoin roared to its previous record of $108,786 (according to CoinGecko) in early April amid market optimism that newly elected U.S. President Donald Trump's would fulfill his promises to support the industry. But it plunged below $75,000 as investors grew skittish about his global trade war and other economic policies that many analysts believed would raise prices and slow the global economy.

The trend began to reverse shortly after encouraging readings on inflation and Trump's partial retreats from tariffs on its most important trading partners. Bitcoin and other coins' gains have accelerated over the past month, along with major equity indexes.

Ethereum and Solana are showing similar gains to Bitcoin on the day, both up around 4%, while Dogecoin is outpacing Bitcoin with a 6% bump and Cardano is up 5% as well.

Source :decrypt

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Warren Takunda

Economic

Wall Street's main indexes slipped and government bond yields rose on Wednesday, as investors closely watched a pivotal debate over U.S. President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt.

The gate-keeping House Rules Committee scheduled an unusual 1 a.m. ET hearing that is expected to run well into daylight hours, as Republicans try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states.

Nonpartisan analysts say the proposed plan could add $3 trillion to $5 trillion to the federal government's $36.2 trillion in debt.

"(We're seeing) the American exceptionalism narrative unwind, so you have a natural process of something weakening after years of concentration," said David Russell, global head of market strategy at TradeStation.

"We're kind of pouring gasoline on the fire with tariffs and all of this budgetary uncertainty."

At 09:34 a.m. ET, the Dow Jones Industrial Average fell 352.28 points, or 0.83%, to 42,324.96, the S&P 500 lost 31.84 points, or 0.54%, to 5,908.62 and the Nasdaq Composite lost 97.35 points, or 0.51%, to 19,045.36.

All 11 S&P sub-sectors traded lower, with information technology and consumer discretionary amongst the worst hit.

U.S. bonds have been under pressure since the start of the week, when Moody's downgraded the country's sovereign credit rating. On Wednesday, yields on the 30-year note were back up to 5.01% and the benchmark 10-year yield climbed 5.2 basis points to 4.53%.

Highly valued technology stocks weakened as rising rates tend to discount the present value of future profits.

Amazon, down 1.5%, led losses among top megacap and growth stocks.

UnitedHealth Group dropped 5.1% as a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands in bonuses to help reduce hospital transfers for ailing residents. HSBC also downgraded the stock to "reduce" from "hold".

On the earnings front, retailer Target fell 6.7% after slashing its annual forecast due to a pullback in discretionary spending.

Wolfspeed tumbled 66.5% following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks.

U.S. stocks closed lower on Tuesday, with the S&P 500 snapping a six-day winning streak while the Dow logged its first decline in four sessions.

Despite the losses, they have had a solid month so far. The S&P 500 has climbed more than 17% higher from its April lows, when Trump's reciprocal tariffs roiled global markets.

A pause in the tariffs, a temporary U.S.-China trade truce and tame inflation data have pushed equities higher, although the S&P 500 is still about 3% off its record highs.

Brokerage Morgan Stanley upgraded its stance on U.S. equities to "overweight", saying the global economy was still expanding, albeit slowly, amid policy uncertainty.

Declining issues outnumbered advancers by a 3.93-to-1 ratio on the NYSE and by a 2.98-to-1 ratio on the Nasdaq.

The S&P 500 posted two new 52-week highs and no new lows while the Nasdaq Composite recorded 16 new highs and 17 new lows.

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

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Damon

Economic

Commodity

Oil prices are modestly higher ahead of this morning's official energy inventory and supply data, but have come dramatically back off the overnight spike highs driven by CNN headlines suggesting Israel is ready to strike Iranian nuclear enriuchment sites.

“Either the impact on the oil market in case of an attack is assumed to be low, or the probability for an attack is assumed to be low,” said Bjarne Schieldrop, chief commodities analyst at SEB AB.

Wednesday’s gain “is not much when we are talking bombs in the Middle East major oil producing region.”

Overnight also saw API report another sizable crude inventory build, while products drewdown (again)...

API

Crude +2.5mm
Cushing -443k
Gasoline -3.24mm
Distillates -1.4mm

DOE

Crude +1.33mm
Cushing -457k
Gasoline +816k - biggest build since January
Distillates +579k

A smaller than expected crude build was offset by an unexpected build in Gasoline stocks according to the official DOE data...

Source: Bloomberg

Including a 843k barrel addition to SPR, total US crude stocks rose for the second week in a row...

Source: Bloomberg

US Crude production was up very modestly last week - hovering just below record highs - while the rig count continues to reject Trump's 'Drill, baby, drill' narrative...

Source: Bloomberg

Geopolitical concerns have for now overshadowed expectations of looser balances heading into the second half of the year, as OPEC and its allies bring back barrels to the market.

Source: Bloomberg

US shale oil output hasn’t peaked and can still expand, but not if prices are near $50 a barrel, ConocoPhillips’ chief executive officer said Tuesday.

Meanwhile, Trump will not be best pleased if geopolitical tensions raise the price of oil and wreck his inflation-busting drill-baby-drill hopes of declining pump prices for the average American.