Zerebro co-founder Jeffy Yu, who played dead, got caught in his parents’ driveway

AI decentralized apps (DApps) have seen a spike in user activity and could soon challenge gaming and DeFi for the top spot in the DApp ecosystem, according to blockchain analytics platform DappRadar.

Gaming and DeFi are both sitting on 21% dominance in April, judged by percentage of unique active wallets, while AI has climbed to 16%, up from the 11% recorded in the February report, data in DappRadar’s April industry report shows.

“As user interest in artificial intelligence tools grows across industries, AI-powered DApps are steadily carving out their place in the decentralized ecosystem,” DappRadar analyst Sara Gherghelas said.

“If this trend continues, AI could soon challenge the traditional dominance of DeFi and Gaming, signaling a new era in the DApp landscape.”

Over the past 24 hours, the cryptocurrency market has experienced significant volatility as Bitcoin officially broke above the $100,000 mark. This price movement triggered massive liquidations, totaling nearly $1 billion across the market, and led to a shift in trader behavior.

Additionally, data from the Bitcoin derivatives market is heating up. Analysts are now concerned about the potential for even larger liquidation waves.

Long Position Liquidations Surge as Bitcoin Breaks $100,000

According to data from CoinGlass, around 190,000 traders were liquidated, with total losses reaching $970 million. Short positions were hit the hardest, accounting for $836 million in losses. This event marks the largest short liquidation since 2021. CoinGlass also noted that the actual numbers might be even higher.

Although short positions have been wiped out, the market faces a new risk: a sharp rise in long positions.

CoinGlass’s 24-hour Bitcoin liquidation map shows that if Bitcoin drops below $100,000, total long positions across exchanges could face nearly $2 billion in liquidations. This raises concerns about a potential “long squeeze”—a phenomenon where mass liquidation of long positions triggers panic selling and accelerates a price drop.

The same map also shows that if Bitcoin falls below $98,000, total liquidation volume could reach as high as $3.45 billion.

This overwhelming potential liquidation from long positions signals a shift in trader sentiment. Many are betting more money and using higher leverage, expecting Bitcoin’s price to continue rising.

In addition, data from CoinGlass shows that Bitcoin Futures Open Interest (OI) across exchanges has reached a record $67.4 billion. This reflects a surge in demand for short-term leveraged trading. Traders are making large bets on the uptrend, which increases the risk if the market suddenly reverses.

Historically, every time Bitcoin’s OI has surpassed $65 billion, a market correction has followed shortly after.

Bitcoin is now making headlines not just for surpassing $100,000, but also for its rising influence in global finance. At one point, Bitcoin even surpassed Amazon to become the fifth-largest asset in the world, with a market capitalization of $2.05 trillion. Meanwhile, Standard Chartered predicts Bitcoin could soon break its all-time high and reach $120,000 in Q2.

TL;DR

Apple is reportedly working on its own microchips across multiple product categories, including smart glasses and artificial intelligence — a hint at what’s next for the massive Silicon Valley-based tech giant.

A May 8 report from Bloomberg, citing people familiar with the matter, said the company is working on new processors to power its future devices, including its first smart glasses to rival Meta’s Ray-Bans, more powerful Macs, and artificial intelligence servers.

The smart glasses — a first for Apple — would rely on a specialized chip codenamed N401. The processor is based on Apple Watch chips but is further optimized for power efficiency and designed to control multiple cameras planned for the glasses, the sources said.

Apple’s smart glasses will initially be non-augmented reality versions that will include cameras, microphones and integrated AI, much like rival offerings from Meta. They would presumably have similar functions like snapping photos, recording video and offering translation options, the report added.

The product may also integrate a visual intelligence feature for scanning the environment and describing objects, looking up information about products and providing directions.

Mass production targeted for late 2026 or 2027, suggesting a product launch within approximately two years, they added.

BNB price is consolidating above the $605 support zone. The price is now showing positive signs and might aim for more gains in the near term.

• BNB price is attempting to recover from the $600 support zone.
• The price is now trading above $612 and the 100-hourly simple moving average.
• There is a key bullish trend line forming with support near $622 on the hourly chart of the BNB/USD pair (data source from Binance).
• The pair must stay above the $612 level to start another increase in the near term.

BNB Price Eyes More Gains

After forming a base above the $600 level, BNB price started a fresh increase. There was a move above the $605 and $612 resistance levels, like Ethereum and Bitcoin.

The bulls even pushed the price above the $625 level. A high was formed at $629 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent wave from the $597 swing low to the $629 high.

The price is now trading above $622 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support near $622 on the hourly chart of the BNB/USD pair.

On the upside, the price could face resistance near the $628 level. The next resistance sits near the $630 level. A clear move above the $630 zone could send the price higher. In the stated case, BNB price could test $642. A close above the $642 resistance might set the pace for a larger move toward the $650 resistance. Any more gains might call for a test of the $655 level in the near term.

Another Decline?

If BNB fails to clear the $630 resistance, it could start another decline. Initial support on the downside is near the $622 level. The next major support is near the $620 level.

The main support sits at $612 and the 50% Fib retracement level of the recent wave from the $597 swing low to the $629 high. If there is a downside break below the $612 support, the price could drop toward the $605 support. Any more losses could initiate a larger decline toward the $600 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $622 and $612.

Major Resistance Levels – $630 and $642.

On-chain data suggests Bitcoin may encounter low resistance at $100,000 and beyond, at least from the perspective of investor cost basis distribution.

A Low Amount Of Bitcoin Supply Has Cost Basis At Levels Ahead

In a new post on X, institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has discussed about how the various Bitcoin price ranges look in terms of investor cost basis as BTC approaches $100,000.

Below is a chart that shows the related data for the price ranges near the latest spot value:

In the graph, the size of the dot corresponds to the amount of the Bitcoin supply that investors last purchased inside the associated price range. It would appear that all the large dots are under the spot price following the latest rally, meaning that the levels that saw the most demand are now in the green.

It’s also visible that the ranges ahead (that is, those harboring the cost basis of underwater holders) have only small dots associated with them. In total, less than 3% of the cryptocurrency’s supply has its cost basis at these levels that lie above the spot price.

To any investor, their cost basis is an important level, so they may be more likely to show some kind of move when a retest of it happens. Generally, holders who were in the loss prior to this retest might incline toward reacting to it by selling their coins. This is because these investors may fear going back into loss again.

Similarly, the profit investors could decide to buy more during a retest of their acquisition mark, believing that the same level might end up being profitable again in the future.

These buying and selling behaviors are naturally of no consequence to Bitcoin when only a few investors are showcasing them. Tight price ranges where a large amount of investors share their cost basis, however, can produce a reaction sizeable enough to affect the asset.

Clearly, Bitcoin only has such ranges left on the profit side, implying it has no major resistance levels ahead in terms of supply distribution. Thus, an exploration beyond $100,000 may not be hindered by break-even sellers.

Though, while this may true, the run could have something different to worry about: profit-selling. Usually, the more investors are there in gains, the more likely is a mass selloff to occur.

With the vast majority of the Bitcoin supply now in the green, it’s possible that profit-taking would become a threat to the rally. It only remains to be seen whether there would be enough incoming demand able to absorb the potential selling pressure or not.

BTC Price

At the time of writing, Bitcoin is trading around $99,400, up more than 3% in the last week.