Preview: US April Non-Farm Payrolls data will be released tonight at 8:30 PM, with the probability of a rate cut in June currently standing at 5.2%.

May 8 – Analyst Murphy noted that while the market is fixated on Bitcoin’s $60,000 price low, on-chain chip structure analysis suggests the crypto’s true bottom foundation may lie in the dense turnover zone around $66,000. Data shows ~440,000 BTC has accumulated in this area, with 240,000 BTC traded between February and April. Currently, the $65,000-$78,000 range holds 13.8% of Bitcoin’s chip distribution—still below the 18.7% level seen before the October 2022 FTX flash crash. But traditional funds (including ETFs and MicroStrategy) have locked up ~13% of circulating supply at relatively high levels, giving the current ratio a solid base for a bottom structure. A double retracement and further turnover in this range would strengthen the bottom’s “downward resilience.” Murphy emphasized the true bottom shouldn’t be tied to the $60,000 low, but rather the $66,000 turnover zone where large funds entered. Turnover in the $78,000-$82,000 range remains insufficient, and the mark

**Coinbase Outage Update: Core Services Restored After AWS Multi-AZ Disruption** Coinbase’s official support team issued a statement on May 8 regarding a service outage that impacted users overnight. Around 8 p.m. U.S. Eastern Time (ET) on May 7, the platform detected elevated error rates across multiple services. An investigation confirmed the root cause was a failure in Amazon Web Services’ (AWS) US East 1 Region (US-EAST-1)—specifically in Availability Zone use1-az4—that spread to additional AZs, triggering prolonged interruptions to core transaction services. While Coinbase’s infrastructure is designed to withstand single AZ failures and recover quickly, the simultaneous multi-AZ outage prevented users from completing transactions. All main issues have now been fully resolved, and Coinbase thanked users for their patience. The team will conduct a comprehensive analysis, with further details expected following AWS’s official post-incident report. Users still experiencing

On May 8, Bithumb will list Pharo (PROS) with a KRW trading pair.

May 8th. Chloe, columnist for HTX DeepThink and analyst at HTX Research, notes the crypto market’s core driver is shifting from a narrow “rate-cut expectation trade” to a broader framework combining **jobs resilience, inflation pressure, and an uncertain rate path**. This Friday’s April non-farm payrolls report is the key short-term macro catalyst. Markets forecast ~62,000 new jobs—down sharply from March but still stable—with the unemployment rate holding at 4.3% and wage growth rebounding. For the Fed, this is a classic “hard to pivot to easing” scenario: - Even weak payrolls won’t let traders place big bets on rate cuts again. - A stronger-than-expected reading would rekindle “higher rates for longer” bets. ### Crypto Market Notes A liquidity-fueled rally is unlikely short-term: - **Bitcoin (BTC)** remains resilient but is still sensitive to U.S. dollar liquidity. A strong payrolls report paired with wage growth would directly weigh on it; weak data without a big un

On May 8th, EmberCN monitoring shows a suspected Arrington Capital-linked address transferred 100,000 COMP tokens (valued at $2.26 million) to Binance within the past 4 hours. Meanwhile, COMP has dropped 4% over the same 4-hour period and is currently trading at $22.

On May 8th, HyperInsight monitoring data reveals that within the past half hour, three addresses holding large BTC long positions on Hyperliquid simultaneously closed their positions. Collectively, they placed 776 BTC sell orders valued at approximately $62 million. The average closing price was around $79,880, and the exit was near break-even. Funds for these three addresses trace back to on-chain withdrawals from HitBTC exchange. On-chain transfer records are highly synchronized with their trading activity, suggesting the addresses may be controlled by a single whale. Addresses: - 0x56871b0ab45d02dd1a29fbee0e6408ccd6e6fd49 - 0x76da69d942cfdba3483e2ea3f16a490e1b0889a3 - 0x3109eb59201623fe283d1b110b054e52222f6183