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Price predictions 5/9: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

Key points:

Bitcoin holding $100,000 as a level of support would confirm the current trend change.

Ether leads among altcoins, and DeFi tokens could follow.

Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post, CoinGlass said that Bitcoin’s rally resulted in $837.80 million in short liquidations in a 24-hour period, the largest since 2021.

Bitcoin’s rally also lifted several major altcoins, which soared above their respective overhead resistance levels. The altcoin rally was led by Ether (ETH), which surged roughly 22% on May 8, triggering a $328 million liquidation of Ether short positions.

Crypto market data daily view. Source: Coin360

Although the short-term picture has turned positive, Bitcoin bulls are expected

TeraWulf Q1 loss widens amid rising costs, falling revenue

Mining firm TeraWulf reported a net loss of approximately $61.4 million in its earnings for the first quarter of 2025, further deteriorating from the same period last year.

Revenue fell to $34.4 million from $42.4 million in the same period of 2024, according to the company’s earnings report, published May 9. Cost of revenue rose sharply to $24.5 million, up from $14.4 million a year earlier.

As a result, TeraWulf’s cost of revenue accounted for 71.4% of total income from operations in Q1 2025, more than double the 34% recorded in the prior-year quarter. In Q1 2024, the company posted a net loss of $9.6 million.

TeraWulf’s profit and loss statement for Q1 2025. Source: TeraWulf

TeraWulf attributed the decreased revenue to Bitcoin’s (BTC) post-halving economics that reduced the block subsidy from 6.25

Ethereum's new staking limit is not a risk to decentralization, says Consensys researcher

Ethereum’s Pectra upgrade doesn’t pose a threat to decentralization, according to Mallesh Pai, senior research director at blockchain software firm Consensys, describing the update as a cleanup of the behind-the-scenes “busy work” currently handled by validators.

During a May 9 Cointelegraph X Space, Pai said a validator’s chances of proposing a block or earning rewards remain tied to how much ETH they hold, adding that larger validators don’t gain any new advantages under the upgrade:

“Rewards continue to be proportional to the amount of ETH you have. […] it’s not the case that if you’re a big validator, you somehow have any more advantages than you did before.”

Pectra is Ethereum’s most extensive network upgrade since the Merge took place in September 2022. Pectra allows validators to stake as much as 2,048 ETH, up from the previous limit of 32

US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

A group of Democratic senators has reportedly sent a letter to leadership at the US Department of Justice and the Treasury Department expressing concerns about US President Donald Trump’s ties to cryptocurrency exchange Binance and potential conflicts of interest in regulating the industry.

According to a May 9 Bloomberg report, Democratic senators asked Attorney General Pam Bondi and Treasury Secretary Scott Bessent to report on the steps Binance had taken as part of its November 2023 plea agreement with US authorities, amid reports that Trump and his family had deepened connections with the exchange.

That settlement saw Binance pay more than $4 billion as part of a deal with the Justice Department, Treasury, and Commodity Futures Trading Commission, and had then-CEO Changpeng “CZ” Zhao step down.

However, since Trump won the presidency in 2024, many lawmakers have accused the president of

US senators ask DOJ, Treasury to consider Binance-Trump ties — Report

However, since Trump won the presidency in 2024, many lawmakers have accused the president of

Crypto sleuth ZachXBT says wrong suspect detained in Bored Ape NFT theft

Law enforcement detained the wrong person for a 2022 scam that pilfered more than $1 million worth of Bored Ape non-fungible tokens (NFTs), cybersecurity researcher ZachXBT said.

In a May 9 X post, ZachXBT said he identified the wallet behind the scam and linked it to an X account that has since been deleted.

But in 2023, law enforcement detained Sam Curry, a former Yuga Labs security researcher, at an airport as a suspect in the incident, ZachXBT said. Yuga Labs is the company behind the Bored Ape Yacht Club NFT collection.

“It’s unfortunate to see how a security researcher was detained when stronger leads on a threat actor potentially responsible exist,” ZachXBT said.

The attacker stole 14 Bored Ape NFTs in 2022. Source: ZachXBT

Anonymous attacker

In December 2022,

Bitcoin price rallies as global liquidity growth accelerates — Analysts

Key takeaways:

Bitcoin’s price closely tracks global liquidity growth, with liquidity explaining up to 90% of its price movements, according to Raoul Pal.

In the long term, global liquidity continues to expand, driven by the increasing debt levels in many countries.

On a shorter timeframe, global liquidity follows a cyclical pattern, with Michael Howell projecting the current cycle to peak by mid-2026.

Bitcoin (BTC) price is notoriously sensitive to global liquidity. Some analysts go as far as calling their correlation near-perfect, with a lag of about three months. This relationship is fueling the current bullish narrative as BTC price soars back above $100,000, but how long can this trend last?

Liquidity is Bitcoin’s silent price driver

Raoul Pal, the founder of Global Macro Investor, recently gave a speech on the strong correlation between Bitcoin and global M2 liquidity. In a recap posted by Paul Guerra, Pal’s

Bitcoin hits $103K but DeFi is a mixed bag: Finance Redefined

The cryptocurrency market continued to surge this past week as the overall digital asset market capitalization exceeded $3.27 trillion, an 8.6% increase over the previous week.

Bitcoin (BTC) reached a high of $103,600 on May 8 after reclaiming $100,000 for the first time since January. Its market dominance also surged above 60%, reflecting more bullish BTC sentiment. This marked the third time BTC has broken through six figures since it reached the milestone on Dec. 5, 2024, and again on Jan. 20, ahead of US President Donald Trump’s inauguration.

The BTC rise coincided with Trump announcing a trade deal with the United Kingdom, which may include removing a 10% blanket tariff on all imports.

In the wider crypto space, Ethereum’s Pectra upgrade implemented much-needed improvements for the crypto ecosystem. The upgrade was followed by a 26% price surge for Ether (ETH), rising from

Galaxy Digital approved for US domicile, clearing way for Nasdaq listing

Galaxy Digital has been approved by the US Securities and Exchange Commission (SEC) to redomicile in the United States, setting the stage for the crypto investment company’s listing on the Nasdaq stock exchange.

Galaxy anticipates listing on the Nasdaq, a tech-focused US stock exchange, by the middle of May, pending approval from the Toronto Stock Exchange, on which the company is already listed, and shareholder approval at a special shareholders meeting on May 9.

Shareholders at the meeting must approve redomiciling Galaxy Digital in the US state of Delaware, known for its business-friendly regulations, before the process can move forward, according to an announcement from the company.

Galaxy Digital SEC form S-4. Source: SEC

Galaxy obtained SEC approval for a Nasdaq listing in April this year, and once the company obtains the other necessary

Chance of Bitcoin price highs above $110K in May increasing — Here’s why

Key Takeaways:

Bitcoin is driven by its ability to perform well in risk-on and risk-off environments, according to Bitcoin Suisse.

Bitcoin’s Sharpe ratio of 1.72, second only to gold, underscores its maturity as an asset, offering superior risk-adjusted returns.

A buyer-dominant market signals strong institutional and retail interest that could drive a supply squeeze and break new highs in May.

Bitcoin (BTC) price breached the $100,000 mark for the first time since January, fueling speculation of a new all-time high above $110,000 in May. According to Bitcoin Suisse, a crypto custody service provider, BTC’s bullish momentum stems from its ability to thrive in risk-on and risk-off environments since the US presidential elections.

Data from its “Industry Rollup” report highlights Bitcoin’s high Sharpe ratio of 1.72, a key financial metric that measures risk-adjusted returns by dividing an asset’s average return (minus the risk-free