Bitcoin and Ether, along with other top non-stablecoin cryptocurrencies, experienced a decline in trading during Thursday afternoon in Asia, with Polygon's Matic leading losses for the second day in a row. Meanwhile, Asian equities were mixed following China's consumer price index report, and U.S. stock futures strengthened after consumer inflation unexpectedly slowed in April. NFT sales on Ethereum saw a surge in the past 24 hours, thanks to the Milady Maker NFT collection, which experienced a 2606% increase in sales. Investors are now looking ahead to the Bank of England's monetary policy decision, which is scheduled for today.

President Joe Biden has warned that a default by the federal government could lead to a global recession, with talks to raise the debt ceiling continuing on Friday. Congressional Republicans are demanding more budget cuts in any agreement. The U.S. producer price index and jobless claims will be released on Thursday, providing further insight into the state of the economy. Investors are also anticipating the Bank of England's monetary policy decision, which is expected to raise rates by 25 basis points to 4.5%, causing concern among economists. Additionally, the crypto and NFT market update for May 10th is available for review.