Cryptocurrency Price on May 23: Bitcoin slips below $69.6k, Shiba Inu, Solana tank up to up to 5%

"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 .
"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 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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Among other major , Solana (-2.3%), Dogecoin (-1.3%), Siba Inu (-2.%), and Avalanche (-5.2%) declined, while Toncoin, NEAR Protocol, and Polygon surged up to 3%.

The cap fell 0.65% to around $2.58 trillion in the last 24 hours, while the total crypto market volume was $94.42 billion, which makes a 21.96% decrease.
The volume of all is now $87.89 billion, which is 93.08% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

Sathvik Vishwanath, Co-Founder & CEO of , said, "Bitcoin is trading at $69,553. Key resistance levels are at $72,030, $73,734, and $75,480, while support levels are at $67,549, $65,949, and $63,901. Bitcoin remains bullish above $69,675, but a break below could trigger a decline.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Source: Forex-Markets-Economic Times