After making an all-time high of $64,804.72, Bitcoin underwent a sharp correction and is trading at $50,860. Today, Bitcoin was unable to hold the support of the $50,000 region and made a low of $47,531. As per technicals, BTC battles to hold the 100-EMA support and is down roughly 9% in the last 24 hours.
Further, if Bitcoin holds this support and reverses, then the next target is the $51,056 and $53,369 region. However, on the flip side, if BTC is unable to sustain the current support, then it could lead to a further downside towards $44,012. As per the 4-hour chart, RSI shows a bullish divergence. This would indicate that bulls can accumulate Bitcoin in this dip. From a longer-term perspective, if Bitcoin remains above $40,000 and bulls are back, then it can create a new all-time high.
Let’s find out some interesting crypto news for today.
SushiSwap announced the integration of Chainlink price feeds to safeguard its lending and margin trading markets. Sushi is a community-driven decentralized exchange that allows users to swap, earn, stack yields, lend, borrow, and leverage all on one platform. With this integration, Sushi will utilize Chainlink’s robust oracle solution to secure its lending and margin trading protocol named Kashi. Besides this, these price feeds are deployed on the Ethereum mainnet and Binance Smart Chain. Further, the team has plans to utilize Chainlink price feeds in other Kashi-deployed chains. Recently, Chainlink also launched Chainlink 2.0 to boost hybrid smart contracts.
Reef Finance disclosed its mainnet launch in the coming month of May. Moreover, to streamline the DeFi ecosystem, Reef Finance has designed Reef Chain. The Reef Chain is compatible with EVM, which allows developers to migrate their dApps from Ethereum swiftly without any coding modifications. Besides this, it is natively compatible with Polkadot in order to provide high scalability with low transaction fees. With this mainnet launch, the team has plans to streamline the DeFi dApps’ migration. In addition, the dApps can accumulate liquidity swiftly from multiple sources into the Reef Operating System. Notably, Reef Chain provides diversified solutions to projects such as fundraising, investor relations, partner networks, and more. Hence, this upgrade will enhance the DeFi ecosystem to the next level.
ICONFi partnered with Band Protocol to integrate Oracles and BAND staking into the digital asset savings platform. Moreover, ICONFi offers a user interface that supports saving, staking, and airdrop activities in one place. With this integration, ICONFi users can utilize Band Protocol’s real-time price data in savings and staking products. Further, this would enhance the security and transparency of ICONFi. Besides this, ICONFi will support BAND staking natively on the platform without any hassle of interacting with external block explorers and wallets.
In the last bit of crypto news for today, we have the founder of Gemini, Tyler Winklevoss, who tweeted that the Gemini Mobile app would now support Apple Pay and Google Pay. As per the tweet, Gemini is now integrated with Apple Pay and Google Pay to purchase cryptocurrency. Gemini is one of the most advanced digital currency exchanges in the world. It is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). With this integration, users can connect their Gemini Mobile app with Apple Pay and Google Pay in just one click to purchase crypto. This step will empower users and boost the crypto space by attracting new investors.
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