Bitcoin Surges Above $104,000 Again After 98 Days, Up About 40% Since Early April

On May 9th, according to alternative data, the Fear and Greed Index of cryptocurrencies today is at 73 (yesterday it was 65), indicating a decline in the "greed" sentiment in the market. Note: The Fear and Greed Index ranges from 0 to 100 and consists of the following indicators: Volatility (25%) + Market Volume (25%) + Social Media Hype (15%) + Market Surveys (15%) + Bitcoin's dominance in the entire market (10%) + Google Trends analysis (10%).

On May 9th, based on the monitoring of LookOnChain, a user has just transferred 3.36 million USDC to Hyperliquid and opened a 25x leveraged short position in ETH. The position currently holds a total of 41,947 ETH (valued at $92 million), with an unrealized profit of $658,000. The liquidation price is $2,247.1 (current price $2,198).

On May 9th, as per The Block, the Web3 consumer entertainment protocol T-Rex has successfully concluded a $17 million Pre-Seed round of financing. The investors involved are Portal Ventures, North Island Ventures, Framework Ventures, Arbitrum Gaming Ventures, ArkStream Capital, Mindful Venture Capital, Hypersphere, SNZ, and Arche Fund. T-Rex is dedicated to motivating network content consumers by means of cryptocurrency rewards. The platform intends to launch a browser plugin this summer. It utilizes zero-knowledge Transport Layer Security (zkTLS) to achieve privacy-preserving data validation between Web2 and Web3 platforms. After users install the plugin, they can accumulate points to exchange for crypto rewards by clicking on the "popcorn" icon that appears in the corner of the screen while viewing content on platforms like X, TikTok, or YouTube. The system will intelligently recommend decentralized applications based on user preferences.

May 9th: According to official information, Doodles declared that the airdrop of its DOOD token will commence at 9:05 AM Eastern Time on May 9th. This is 9:05 PM Beijing Time tonight. It is reported that the airdrop will initiate with users who have registered for Doodles Collectibles (with an expected duration of 3 - 5 minutes). Subsequently, an airdrop will be made to all New Blood partner communities (with an expected duration of 15 minutes). Doodles Collectibles holders who did not register in advance will be able to claim the airdrop manually starting at 9:05 AM Eastern Time through a dedicated webpage.

On May 9th, as monitored by LookOnChain, an insider of a certain DIDDY project managed to earn $989,600 within less than 2 hours. The insider created a new wallet the day before, pre-deposited funds, and then spent $349,900 to purchase DIDDY and sold it for $1.4 million, resulting in a net profit of $989,600. BlockBeats Note: Kanye West retweeted a tweet with the DYDDY meme coin contract address early this morning. The meme coin once reached a peak market capitalization of $160 million, but currently stands at only $36.39 million with a 24-hour trading volume of $46.1 million.

On May 9th, as reported by Bloomberg, the U.S.-based Bitcoin mining firm Hut 8, following the establishment of the American Bitcoin Corp. in cooperation with Trump's son, released its first-quarter financial report. The company's revenue saw a nearly 58% year-on-year decrease to $21.8 million, accompanied by a net loss of $134.3 million. The company attributed this loss to the Bitcoin halving and the impact of mining machine upgrade downtime. Nevertheless, Hut 8 still intends to continue investing in the joint venture project and expand its AI high-performance computing center. After the news was made public, the company's stock price increased by 17%.