Bitcoin (BTC) fell over 3% in the last 24 hours, extending
the losing streak. At the moment the rate is close to $34,000 mark, which shows
that bulls are stronger than bears at the moment. If bulls can maintain the
initiative, there is a chance to see a breakout at the beginning of the next
week.

Also Read | Crypto Fear and Greed Index on Monday, May 9, 2022

On the daily time frame, Bitcoin (BTC) made a false
breakout of the $34,000 level. The selling volume has decreased, which shows
that bears are losing their energy. In this case, the more likely scenario is
correction to the zone of $35,000. If the fall continues below to the $33,000
mark, there is a high chance of seeing a sharp drop below below $32,800 next
week.

Bitcoin fear and greed index on Monday, May 9, 2022, went
from the extreme fear level of 18 to the level of 11 as per the alternative.
me. The Fear and Greed index is a technique for assessing investors’ emotions
toward the market.

Also Read | Rupee falls to all-time low of 77.42 against US dollar in early trade

Bitcoin is currently trading at $33,489.02, down 3.30%.
In the last 24 hours, the highest it touched was $33,393.61 and the lowest was
$34,873.63. Bitcoin has a current market cap of $637,588,005,509. It has a
circulating supply of 19,034,818.00 BTC coins and a maximum supply of
21,000,000 coins.

Also Read | Week ahead: OPEC, IEA reports and quarterly results to weigh on Sensex, Nifty

Instagram
to support NFTs from Ethereum, Polygon, Solana, Flow

Meta-owned Instagram is non-fungible token (NFT)
integrations for Ethereum, Polygon, Solana and Flow, according to a Coindesk
report. These networks host the vast majority of trading in digital
collectibles, with Ethereum and its Bored Apes leading the way by market cap.

Also Read | Week in review: Sensex, Nifty fall after RBI’s interest rate hike

The pilot program will feature a small group of NFT
enthusiasts from the United States. It wasn’t immediately clear whether
Instagram would support NFTs from all four chains at launch.

Instagram intends to enable popular crypto wallets such
as MetaMask. After this move, users will be able to prove NFT ownership,
showcase them on their profiles and tag the creators who made them.

Also Read | US Stock Market: DJIA, S&P500, Nasdaq and Russell ended in red on Friday

Instagram will not charge users for uploading and sharing
NFTs, as microblogging site Twitter initially did for its hexagonal NFT profile
pictures in January.