Bitcoin, the leading currency, has been facing a tough time lately as its value has been fluctuating. Today, it briefly touched the resistance level of $28,300, raising hopes among investors that it might be able to stabilize its position.
Unfortunately, BTC could not hold on to this level, and it took a sharp downward turn, falling to $27,000. At present, the price is in a bearish mode, with a decline of 0.44% in the daily timeframe and almost 4% in the weekly timeframe. According to CoinMarketcap’s data, it is currently trading at $27,472.51.
The crypto market has been witnessing high volatility in recent times, with BTC being one of the most affected cryptocurrencies. While some investors remain optimistic about its future prospects, others are adopting a more cautious approach in light of the ongoing market uncertainty.
According to a recent tweet by Santiment, the funding rate of BTC on the BitMEX platform had reached its most negative ratio since mid-March, when heavy bets were made against the cryptocurrency just before its prices skyrocketed.
The tweet suggests that the probability of a rise in BTC prices may be on the horizon, as history has shown that a significant increase in price often follows when the market is overwhelmingly bearish.
Bitcoin Builders Conference Announces Keynote Lineup
As per the latest press release, Bitcoin Builders, the first-ever conference aimed at BTC Layer 1 and Layer 2 developers, has announced its keynote lineup. The event, taking place on May 17th at the Ice Palace Studios in Miami, will feature a host of thought leaders and change-makers in Bitcoin development and innovation.
The keynote speeches will be MC’ed by Hard Money & Coin Stories host Natalie Brunell. The keynotes include Lightspark CEO David Marcus discussing scaling Lightning for the future, Casa Co-Founder & CTO Jameson Lopp talking about how to survive Bitcoin Ossification.
Additionally, a panel discussion on Building on Bitcoin with IOV Labs COO Daniel Fogg, Luxor CEO Nick Hansen, Babylon Chain Co-Founder David Tse, and Trust Machines CEO Muneeb Ali.
The event agenda includes impactful sessions addressing the current state of Bitcoin development as well as the future of its innovation, led by technical leaders in the space.
The sessions will be divided into two stages, Mainnet and Devnet, and will provide networking opportunities for developers to engage in technical discussions.
IOVLabs President, COO, & Rootstock contributor Daniel Fogg said:
There has never been a better time to build on Bitcoin. Bitcoin L2s like Rootstock are enabling developers to build apps that will bring Bitcoin to millions of new users.
Whereas, Core Contributor at Sovryn, Edan Yago, believes that this is the year BTC L2s will break down walls for developers building the apps that will take it to millions of new users. Bitcoin Builders Conference has given these talented Bitcoiners the space to have technical discussions, not happening anywhere else.
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