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Today’s Cryptocurrency Headline
Decentralized oracle project Chainlink announced the launch of Optimism network, providing kinds of market and price data for the network. According to Chainlink, Synthetix has integrated Chainlink’s price data in Optimism with low latency and cost. The integration supports synthetic asset trading on Kwenta, option trading on Lyra, and Thales option protocol.
Bingbon’s Bitcoin Chart
Source: TradingView& Bingbon
Bitcoin returned to the range of $50,000 level yesterday, but weakened this morning ranging somewhere at $48,200. On average, Bitcoin’s return rate during the month of September is usually negative while returns in November tend to be relatively high. Bitcoin is currently still above the 200-day moving average level which suggests that the positive trend in BTC is still there, although the movement is likely to start to slow down.
If the $50,000 psychological level is not broken, then Bitcoin is likely to bounce between the $46,000 to $48,000 range. The index of fear and greed continues to project enthusiasm but, there is still time to wait for a new phase of consolidation.