In partnership with
Today is Tuesday, May 26, 2026.
The Early Bird Index today is 87.43.
New to this newsletter? Sign up here
Why Bitcoin Is Going Nowhere 📉
Monday’s Bitcoin $BTC ( ▲ 0.01% ) performance perfectly encapsulates the range-bound value since the start of May - flat and going nowhere.
Background: The price of Bitcoin is down about 11% this year. It’s recovered since dropping to $63,000 in February, but it hasn’t returned to its early-2026 high of $96,000.
Details: In May, Bitcoin’s price has been stuck around $76,000.
Early Bird’s Nest Egg Gains: The main marginal buyers and sellers have been offsetting each other in May: spot Bitcoin ETF (exchange-traded fund) flows have not provided a strong new demand impulse, while macro conditions and risk appetite have kept pressure on speculative assets like Bitcoin.
The market is waiting for a catalyst. In Bitcoin’s case, that catalyst has not been strong enough to overpower supply from profit-taking and distribution.
Bitcoin has been stuck because demand is strong enough to prevent a breakdown but not strong enough to trigger a breakout.
Final Thoughts: Most prices for other major cryptocurrencies were also flat on Monday.
Trade Real-World Events. Get $10 Free.
Start trading real-world events. With Kalshi, you can trade on things you already follow: inflation, elections, sports, and more. It’s simple: buy “Yes” or “No” shares on what you think will happen, and earn returns if you’re right.
To get you started, we’re giving you a free $10. Use it to explore the platform, test your instincts, and see how prediction markets work in real time.
Join thousands already trading the news and putting their knowledge to work.
Claim your $10 and start trading now.
Trade responsibly.
Notables
Notable Earnings Today: Zscaler (Nasdaq: ZS), AutoZone (NYSE: AZO), Sociedad Quimica y Minera (NYSE: SQM), Box (NYSE: BOX), Champion Homes (NYSE: SKY), CSW Industrials (NYSE: CSW), Modine Manufacturing (NYSE: MOD), Semtech (Nasdaq: SMTC), Banco Bbva Argentina SA (NYSE: BBAR), Digital Turbine (Nasdaq: APPS), Freightos (Nasdaq: CRGO), Ooma (NYSE: OOMA), Pony AI (Nasdaq: PONY), Qfin Holdings (Nasdaq: QFIN), VNET Global (Nasdaq: VNET).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: N/A.
Notable Economic Events Today: S&P Cotality Case-Shiller U.S. National Home Price Index (9:00 a.m. ET), CB Consumer Confidence (10:00 a.m. ET).
Ferrari's Fully Electric Car
On Monday, Ferrari NV $RACE ( ▼ 0.33% ) unveiled its first fully electric car called Luce, a milestone for the luxury sports car company.
Details: It’s a five-seat car that was designed by Sir Jony Ive and Marc Newson.
Powering the Story: Ferrari has built its identity around combustion-engine performance, so an all-electric Ferrari is a symbolic and strategic milestone.
Stock Price: Shares of Ferrari are down 6.36% this year.
Final Thoughts: Also on Monday, Ferrari said it completed part of its scheduled stock buyback program already.
Eli Lilly’s Positive Results
Pharmaceutical company Eli Lilly $LLY ( ▲ 2.24% ) announced positive Phase 1b results for its new base editing therapy drug, VERVE-201, on Monday.
Details: The company is planning to conduct phase 2 by the end of 2026.
Final Thoughts: Eli Lilly’s stock is in the red this year, although the price is up over 22% in the past 30 days.
Trends to Watch
The Price of AI: These AI Gurus Are Charging Wall Street Banks $25,000 a Day (Bloomberg)
Predict This: When are prediction markets most helpful? Evercore ISI has a formula (CNBC)
Ignoring Red Flags: SpaceX’s IPO Is a Bet Gravity Doesn’t Apply to Elon Musk (Wall Street Journal)
Here to Stay: Bond traders are surrendering to inflation fears. It's raising the stakes for Washington (Quartz)
Big Rally: NEAR price rally gains momentum as cross-chain product activity fuels further 15% jump (CoinDesk)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Pick winning stocks: Upgrade to Early Bird Prime.
Become a smarter investor: Get Early Bird Exclusives
Want more investing tips? Listen to the podcast.
Show Your Support: Buy Me a Coffee.
Questions or comments? Hit reply to reach out.
The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations, and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.
