Curvance temporarily halted trading on the impacted market, and Echo Protocol stopped all transfers between different blockchains. This brings the total number of cryptocurrency hacks for May to 14.
Bitcoin’s price dropped below $77,500 and continued to fall. It went below $77,000 and then dipped even further to below $76,500.
Key Takeaways (because who has time to read the whole thing?):
Vitalik Buterin believes that despite concerns AI bug-finding tools could make truly secure code unattainable, he’s hopeful. He sees AI-powered formal verification as a key reason for his optimism.
In a thread so spicy it should come with a warning label, Binance’s research arm claims four on-chain metrics are pointing to a supply squeeze tighter than skinny jeans after Thanksgiving. Long-term holders are clutching their coins like they’re the last slice of pizza, speculative activity is as subdued as a Monday morning, and short-term holders are just starting to rebuild their ego-I mean, profits. The vibe? Forced selling is so last season, honey.
Bitcoin remains the leading asset of the three, but its upward trend appears to be slowing down after failing to break through the $81,000 level, which is a key indicator of long-term price movement.
The analysis centers around a specific technical indicator – the 21-week and 21-day moving average ribbon – which has historically marked the transitions between Bitcoin’s bull and bear markets. While Bitcoin’s price is starting to rise again after the 2022 bear market, it’s currently facing resistance around the $81,974 level, specifically at the 21-week moving average.
Each trading scenario presents a unique opportunity. One shows a price hovering just above a key support level, another is close to breaking out of a triangular pattern, and the third is maintaining its recent gains after a strong increase last week.
