Key summary on May 4: BTC dominance exploded, and copycat differentiation intensified 1/ BTC's market share rose to 64.85% for the ninth consecutive year, returning to its January high, and the market is rapidly resetting its valuation anchor. 2/ Raydium was born with nearly 36,000 tokens, a graduation rate of less than 1%, and a hot speculation but low success rate. 3/ Whale sold 420,000 TRUMP and lost 760,000, the copycat bubble was quickly punctured, and FOMO emotions encountered "reality stuffy". 4/ In the past 24 hours, 160 million positions have been liquidated, the main explosion is long, the long-short conversion is fierce, and the short-term market direction is still unclear. 5/ ASR rose by more than 50%, the revenue of the ZORA protocol exploded, and there are still local opportunities for alternative assets and fan economy. 6/ SNS.sol and JAGER airdrop fermentation, Web3 traffic competition into the deep water area. 7/ Fidelity, MicroStrategy, BiyaPay, etc. continue to shout BTC, and $100,000 is still the next psychological threshold. 🔚 The market completes the transfer of chips in the shock, BTC is strong, ETH is weak, and copycats are extreme.