Cryptocurrency Price on May 23: Bitcoin slips below $69.6k, Shiba Inu, Solana tank up to up to 5%
Bitcoin, Solana, and Avalanche.
Meanwhile, blue chip crypto token BTC fell over 0.6% to $69,466 in early trade on Thursday, while Ethereum rose over 0.3% to $3,778.
«Bitcoin trades at the $69,000 level with profit booking by some players. However, the inflows into the spot Bitcoin ETFs show that buying continues,» said Edul Patel, CEO of Mudrex.
«Even though BTC could clear the major barrier at the $70,000 level, bulls could not push the price above the $73,777. The next support lies at the $68,500 and the resistance lies at the $70,300 and then $71,500,» Edul said.
Meanwhile, Rajagopal Menon, Vice President at WazirX said, «Bitcoin appears poised for another upward trajectory, despite minor pullback from $70k levels which appears to be a strong point of resistance before the market takes off. If this level is surpassed, the token could go up to $72k with a bullish outlook. The triangle pattern holds the potential to take Bitcoin to new highs.»
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