Crypto trader Eugene Ng Ah Sio said on May 9 that multiple charts across the cryptocurrency market are showing signs of bottoming out, with Bitcoin hovering around $80,000 and altcoins positioned for a potential breakout from their current trading ranges."Multiple charts look like they're close to bottoming out," Ng Ah Sio wrote on his personal channel. "Bitcoin is currently hovering around $80,000 — I think the market will start a real big move, hopefully upward, in the next week or so, and many altcoins are also expected to break out of their current trading range."Why the setup looks favorable: thin positioning and low open interestThe trader's bullish lean is rooted in market structure rather than price momentum alone. Ng Ah Sio pointed to overall trading volume and open interest levels as evidence that most cryptocurrencies currently require relatively little marginal buying pressure to move prices higher — a setup that can amplify upside moves when they do occur.His read is that market participants remain underallocated to most crypto assets at current levels, meaning there is room for significant capital to rotate in without hitting heavy resistance from existing positioning.The trigger Bitcoin needsDespite the constructive setup, Ng Ah Sio was clear about what the market needs to confirm the move. Bitcoin must break through the $80,000 level cleanly and decisively — not just touch it and retreat. A definitive break above that level, he argued, would be the catalyst that unlocks the broader altcoin rally he is anticipating.He identified ETH, SOL, and HYPE as the key altcoins to watch, noting that these assets taking the lead and establishing a clear upward trend would be the signal that a new market cycle leg is underway.The riskNg Ah Sio acknowledged the scenario does not play out automatically. His concern is that Bitcoin gets pushed back below $80,000 before a clean breakout is established — a failure that would likely delay or invalidate the altcoin setup he is tracking. The difference between a sustained breakout and another rejection at this level, he suggested, will define whether the next major move is up or whether the market needs more time to build a base.

BitcoinTreasuries.NET reported on X platform that Strategy MSTR purchased 56,000 BTC in April. According to Odaily, this acquisition is 28 times the combined amount bought by all other publicly listed companies during the same period.

A Wells Fargo customer in Texas reported that the bank refused to reimburse her after scammers withdrew $3,300 from her account using Zelle. According to NS3.AI, the incident started with a phone call on April 1, which appeared on caller ID as Wells Fargo. Despite the customer's efforts, Wells Fargo denied her claim three times.

US-listed spot Bitcoin ETFs recorded $145.7 million in net outflows on May 8, 2026, according to Farside data, while Ethereum spot ETFs moved in the opposite direction with $3.6 million in net inflows — a modest but notable divergence between the two leading crypto ETF categories.Bitcoin ETF outflows: Fidelity leads the retreatFidelity's FBTC bore the brunt of the day's Bitcoin ETF outflows, recording $97.6 million in net redemptions — accounting for roughly two-thirds of the total $145.7 million that left the Bitcoin ETF complex on the day. The remaining outflows were distributed across other funds in the space.The day's figures extend a pattern of choppy flow data for Bitcoin ETFs in May, following a strong late-April inflow streak that had accumulated nearly $1.7 billion before reversing earlier this week.

Anthropic's Interpretability Research Team recently published an empirical study titled 'Emotion Concepts and Their Function in Large Language Models.' According to PANews, the study delves into the deep emotional concept representations, known as emotion vectors, within the Claude Sonnet 4.5 large language model. The research provides evidence that AI possesses emotion vectors and confirms that these vectors can causally drive AI behavior.

Global oil inventories are being consumed at a record pace due to disruptions in Persian Gulf oil transport caused by the Iran conflict. According to Odaily, this depletion is eroding buffer stocks originally intended to mitigate supply shocks, increasing the risk of extreme price surges and shortages. With the Strait of Hormuz nearly closed for two months, options for governments and industries to counter the impact of over 1 billion barrels of lost supply are dwindling. The rapid consumption of inventories suggests that even after the conflict ends, the market will remain vulnerable to future supply interruptions for an extended period. Morgan Stanley estimates that between March 1 and April 25, global oil inventories decreased by approximately 4.8 million barrels per day, significantly surpassing previous quarterly inventory reduction peaks compiled by the International Energy Agency. Crude oil accounts for nearly 60% of this reduction, with the remainder being refined products. It is crucial for the oil system to establish a minimum inventory level. Natasha Kaneva, head of global commodities research at JPMorgan, indicates that this means reaching the untouchable portion of safety stocks before inventories truly bottom out.

Japan is considering dispatching government officials to Russia by the end of May to ensure ongoing communication with Moscow, according to a post by the trade ministry on X. This move aims to support Japanese companies that continue to operate in Russia despite geopolitical tensions. The initiative underscores Japan's commitment to maintaining business relations and providing assistance to its enterprises abroad.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

API, Artificial Intelligence, AI Agent: Breaking the Black Box of AI API Intermediaries: From Computing Power Arbitrage to Verifiable Settlement in the Agent Era. Golden Finance: In the Agent era, verifiable settlement will become a necessity.

In 2026, for the first time, competition in the field of AI will no longer be just a contest of model capabilities.

$4.2 billion is a huge bet for Bullish. But for Wall Street, it's just the beginning of the tokenization story.

On May 8, 2026, DeepSeek launched its first round of external financing in nearly three years since its establishment, aiming to raise up to 50 billion yuan.

After being fired by OpenAI, he expanded his fund by $1.7 billion in just six months, and a year later his assets under management surged to $5.5 billion, transforming himself from a Silicon Valley IT guy into a Wall Street investment darling.

MicroStrategy, BTC: When even the most steadfast Bitcoin bulls begin to waver, Saylor's first concession puts pressure on funding flywheels. (Jinse Finance)

TON, Telegram, surges over 115% in a week. What's driving TON's dramatic rise? Golden Finance reports that the surge is driven by both deep market entry and reduced fees.

The Cyberspace Administration of China, the National Development and Reform Commission, and the Ministry of Industry and Information Technology recently jointly issued the "Implementation Opinions on the Standardized Application and Innovative Development of Intelligent Agents".

SOLANA, ETH, ETH VS Solana: Who is the real winner? One statistic tells you the harsh truth. Golden Finance: Cryptocurrency prices are falling, but data is rising.