Crypto

Bitcoin slips below $79,000; can bond outflows drive rebound?

Bitcoin slid below $79,000 over the weekend amid macroeconomic instability and uncertainty surrounding the Iran war. Cointelegraph said bitcoin has moved similarly to the Russell 2000, as markets assess it as a risk asset rather than a safe haven. Demand for leveraged bullish bets in derivatives was weak, with funding rates near zero. Rising oil prices and higher bond yields added pressure, though outflows from fixed income could later support a rebound.

Industry

Lee Jae-yong says he will take the hit as Samsung union and management face final mediation on May 18

Samsung Electronics union and management will return on May 18 to a second post-mediation session at the National Labor Relations Commission, days before a planned strike. Chairman Lee Jae-yong apologised to customers worldwide and the public, calling employees and the union “one family” and saying he would take responsibility. The company changed its lead negotiator, while the union agreed the outgoing negotiator could attend without speaking. Talks focus on performance bonuses and whether to institutionalise the scheme.