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Stocks catch up with BTC’s earlier crash to $60,000 as bond yields surge
Bitcoin began the year on a painful note, even as equity markets remained buoyant. But stock traders’ luck is now running out, as rising bond yields pressure valuations.
Prices for bitcoin plunged to nearly $60,000 from around $90,000 in the first five weeks of the year, according to CoinDesk data. The decline marked a sharp decoupling from the S&P 500 and Nasdaq, which were trading at or near record highs at the time.
Analysts wondered how long the divergence would last — whether bitcoin would quickly bounce back or stocks would eventually catch up with the weakness in bitcoin.
The latter appears to be happening. Since the Iran war began on Feb. 28, fears over inflation and fading Fed rate-cut expectations have pushed U.S. Treasury yields sharply higher, putting pressure on equities.
The stock market’s weakness, appearing weeks after BTC’s decline, underscores the cryptocurrency’s role as a leading indicator for traditional risk assets. Traders in conventional markets often watch BTC to gauge overall risk sentiment, particularly on weekends or during days when traditional exchanges are closed.
Yields rise, stocks drop
The yield on the 10-year U.S. Treasury note rose to 4.41% soon before press time, the highest since Aug. 1. The benchmark borrowing cost has risen by 48 basis points since the onset of the Iran war. The U.S. two-year yield has jumped 57 basis points to 3.94%.
Treasury yields are considered the benchmark for risk-free interest rates and borrowing costs in the economy, such as corporate bonds, mortgages, student loans, etc., are priced relative to Treasuries. So, when yields rise, lenders typically increase rates on loans to maintain their spreads, which pushes borrowing costs higher for businesses and consumers. This leads to risk aversion in equities, which we are beginning to see now.
Futures tied to Wall Street’s tech heavy index Nasdaq fell to 23,890 points early Monday, the lowest since Sept. 11. The S&P 500 e-mini futures fell to 6,505 points, also the lowest since September.
CoinDesk recently highlighted that the price patterns of major stock indices bear a striking resemblance to bitcoin’s price action leading up to its crash. This similarity has raised concerns among analysts, suggesting that stocks could be at risk of further declines if the pattern continues to play out.
“Bitcoin has been at the top of the risk-assets iceberg, and its collapsing price could be early days of a broader drawdown — particularly if surging commodity volatility trickles up to stocks,” Bloomberg’s Senior Commodity Strategist Mike McGlone said in a recent report.
Bitcoin steady
Having crashed early this year, BTC has held largely steady between $65,000 and $75,000 in recent weeks. As of writing, the cryptocurrency changed hands at $68,790.
Yet, pricing in options market shows peak fear, resulting in a record bias for put options, or derivative contracts offering protection from price slides in BTC.
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BTS fans pack Las Vegas Chinatown as Allegiant Stadium shows begin
LAS VEGAS (FOX5) — As hundreds of thousands of fans of K-Pop group BTS head into Las Vegas for Memorial Day weekend, numerous small businesses are being inundated with fans after a phenomenon: the BTS Army effect.
BTS will perform at Allegiant Stadium for four nights from May 23 through 28.
Across Chinatown, patrons will see lines outside restaurants and various establishments after a visit from one of the K-Pop band members or the group.
While BTS and members of the boy band have notably visited other popular establishments across Las Vegas, they have been spotted along the Chinatown corridor at popular mom-and-pop shops for good Asian eats.
MORE ON FOX5: BTS brings Arirang World Tour to Las Vegas, local businesses prepare for fan surge
“Where they go, we know it’s going to be good. We know there’s going to be a mob of people, but at least it’s like, our people,” said one fan who is coming in from the Bay Area, who had already seen a prior show locally.
Urban Matcha found a line outside the door, this morning, after band member J-Hope came Thursday for a shaved ice matcha dessert; millions of fans watched videos of the visit circulate on social media platforms.
Fans also visit establishments that appeared on a BTS Army “live feed;” other establishments hold BTS-themed special events with special menu items through the performance dates.
“Our small businesses in Chinatown and small businesses that are members of the Chamber are so excited for BTS to come here the second time around. They bring a factor to them as they love to support small businesses– and as they support small businesses, the Army follows and supports small businesses,” said Catherine Francisco of the AAPI Chamber.
The business boost comes after a packed previous weekend on the heels of the Electric Daisy Carnival in town; hundreds of thousands of attendees headed to Chinatown establishments in search of food and drink at all hours of the day and night.
“Everyone really discovering Chinatown– and its great businesses and great products and food and drinks. We thank them for really supporting small businesses,” Francisco said.
Establishments have ramped up staffing and preparations to accommodate extra patrons in town during the back-to-back EDC weekends and BTS performances, Francisco said.
Copyright 2026 KVVU. All rights reserved.
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James Harden, Carmelo Anthony & the AI-Powered Hollywood Pivot

James Harden has spent more than a decade as one of basketball’s most mercurial superstars — an MVP, multiple-time scoring champion, 10-time NBA All-Star and one of the most inventive players of his generation. At his 2010s peak with the Houston Rockets, Harden turned step-back three-pointers and foul-drawing into an almost mathematical form of offensive domination, becoming both statistically unstoppable and endlessly polarizing. Few athletes of this era have generated more highlights, more debate or more internet discourse.
Now he may be trying to turn that persona into entertainment IP.
On March 5, Harden released an AI-generated basketball animation to his 11.9 million Instagram followers that focused on his life story, used his voiceover and had near Pixar-like character development. It was ambitious in a way celebrity content rarely is. Working with a leading AI studio, he created a short film that transformed his persona into a larger-than-life animated protagonist, remixing his NBA career into an anime-style mythology built for social media: oversized arenas, hyper-stylized basketball battles, emotional arcs, cinematic pacing. It felt less like a sponsored post than a test case for turning an active NBA player into a self-distributed entertainment universe — without waiting on Hollywood.
And people paid attention.
Fans online dissected every frame of the video, which was produced in under a week using AI-native production workflows. Some viewers praised the scale and speed of what had been created, comparing it favorably to Pixar characters. Others zeroed in on the flaws: Harden’s avatar occasionally appeared to shoot with the wrong hand, and the lettering on his jersey sometimes dissolved into visual nonsense. The reactions were split between fascination, skepticism, mockery and genuine curiosity, with one detractor blurting: “You rich bro, stop this.”
And yet, it’s undeniable that his engagement exploded. That tension — imperfect craft, massive speed, direct fan distribution — revealed how athletes can now build, test and own entertainment IP before Hollywood would have even scheduled the first general meeting.
Cecilia Shen, the founder and CEO of Utopai Studios who collaborated with Harden on this effort, says his anime clip became one of the highest-performing posts on the Cleveland Cavalier combo guard’s Instagram account, even though she wasn’t entirely aware that he was going to be posting this animation. “James went ahead and posted early, and I woke up that morning, and he just went ahead and posted the clip along with a fire emoji,” she recalls. Harden, 36, reportedly wanted to control his own brand, and has decided to keep making AI content for his fans. And so, just a few weeks later, he released his second anime, with the promise of delivering more on a consistent basis.
Now Carmelo Anthony is getting on board to develop original sports and entertainment IP entirely on his own terms by partnering with Utopai Studios. In addition, Anthony will be an investor in the company, and his first project, an anime-inspired property built around his cultural world, will roll out shortly as a recurring short-form series (like Harden’s). Shen says that it follows in a line of business strategy where athletes “should have control over their own IP.”
Below, I’ll get into what this creative intersection means for AI, athletes and Hollywood:
- How AI lets athletes turn persona into owned IP without waiting for a greenlight
- Why even LeBron James shows the stark financial limits of the athlete-as-media-mogul model
- The athlete-media Catch-22: Fame moves fast, Hollywood doesn’t
- Why James Harden’s rough AI anime may still be a distribution success
- How Carmelo Anthony fits into the new athlete-IP playbook
- The opportunity — and warning — this opens up for Hollywood
Don’t stop here
Unlock the full story — and the no-spin reporting Hollywood trusts
Trending
Rocket League On Unreal Engine 6 Announced At Paris Major
During the ongoing 2026 Rocket League Championship Series Paris Major, Epic Games and Psyonix delivered on a major announcement they’d been building up to for weeks, with several professional players and onsite content creators alluding to the announcement over the past few days.
The future of Rocket League will be on Unreal Engine 6, something that’s been highly anticipated by players for years. Rocket League was originally developed on Unreal Engine 3, which has undoubtedly hampered the ability of Psyonix to update the game as regularly as they would probably have liked in recent years.
We got to see a brief clip of Rocket League running on UE6, and it looks damn near photorealistic. There’s no hint at when it’s going to be coming, though, so it could be a ways off.
Unreal Engine 3 doesn’t have many of the contemporary features that developers enjoy with modern engines, and it’s harder to train junior developers on an old engine when they’re more familiar with UE5. We’ve seen teams like Halo Studios and TT Games face similar struggles with old engines before eventually opting to switch to Unreal.
Though many are sure to be excited about the announcement, there are also some concerns. Primarily, players are worried that a new engine might meaningfully change how the game’s physics engine behaves. The core feel of Rocket League is intertwined with how the ball reacts when colliding with one’s car, and any change to those systems will cause a major shock wave in the community.
Still, Epic Games is responsible for both UE3 and UE5, so the chances of the port feeling worse than the original are low. Everyone is looking for the exact same game with shiny new visuals and more content, and that seems to be what Epic is going for.
The Paris Major Storms On
The announcement of Rocket League on UE6 came during the semi-finals of the Paris Major, an appropriate time to make such a massive announcement, given that the event is one of the game’s biggest ever.
The energy in Paris is electric, as three of the competing teams, Karmine Corp, Team Vitality and Gentle Mates, are French organisations and each reached the major’s final six. The fandom of these respective organisations is on full display on the streets of Paris, seen by many as the spiritual home of Rocket League esports.
With the next semi-final being contested by Karmine Corp and Team Vitality to see who will face Twisted Minds in the Grand Finals, the energy of Paris’ La Défense Arena remains frenetic.
Rocket League
- Released
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July 7, 2015
- ESRB
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E for Everyone: Mild Lyrics
- Developer(s)
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Psyonix
- Publisher(s)
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Psyonix
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