Cryptocurrency Price on May 22: Bitcoin falls below $70k level; Ethereum, Uniswap surge up to 4%

Bitcoin was down 1.9% at $69,860 as of 12:34 p.m., while Ethereum was up 2.8% at $3,765.

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"BTC is hovering around $70,000, slightly below its range high and ATH level. Overall, still looks bullish in higher time frames (HTF) and neutral in lower time frames (LTF)," said Research Team.

Edul Patel, CEO of , said, "If the bulls can push Bitcoin above the current level, the next resistance would be at the $71,100 and then towards the $73,600 level. The support lies at $69,400."

Meanwhile, the second largest cryptocurrency, in value terms, Ethereum surged nearly 25% in the past two days amid speculation about the outcome of applications for U.S. spot exchange-traded funds (ETFs).

"With the just one day away, ETH is standing strong, with key resistance levels at $4,000, $4,400, and $4,800," said.

The volume of all stablecoins is now $111.86 billion, which is 93.3% of the total 24-hour volume, as per data available on .

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, increased to $1.374 trillion. Bitcoin's dominance is currently 52.98%, according to CoinMarketCap. BTC volume in the last 24 hours fell 23% to $39.95 billion.

(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