Cryptocurrency Price Today: Bitcoin Remains Below $70,000, Bittensor Becomes Top Gainer
Cryptocurrency price on May 23 quick take: The global market cap dipped to $2.58 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to cross the $70,000 mark early Thursday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — mostly landed in the reds across the board as the overall Market Fear & Greed Index stood at 66 (Neutral) out of 100, as per CoinMarketCap data. Bittensor (TAO) became the biggest gainer, with a 24-hour jump of over 8 percent. CORE became the biggest loser, with a 24-hour dip of over 6 percent.
The global crypto market cap stood at $2.58 trillion at the time of writing, registering a 24-hour dip of 0.33 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $69,476.24, registering a 24-hour dip of 0.17 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 59.70 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,780.97, marking a 24-hour jump of 1.60 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 3.24 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 0.39 percent, as per CoinMarketCap data, currently priced at $0.1665. As per WazirX, Dogecoin price in India stood at Rs 14.15.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 0.25 percent. At the time of writing, it was trading at $86.32. LTC price in India stood at Rs 7,380.71.
Ripple (XRP) Price Today
XRP price stood at $0.5281, seeing a 24-hour dip of 0.71 percent. As per WazirX, Ripple price stood at Rs 45.60.
Solana (SOL) Price Today
Solana price stood at $177.44, marking a 24-hour jump of 0.39 percent. As per WazirX, SOL price in India stood at Rs 15,423.60.
Top Crypto Gainers Today (May 23)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bittensor (TAO)
Price: $458.91
24-hour gain: 8.61 percent
dogwifhat (WIF)
Price: $2.98
24-hour gain: 6.64 percent
Kaspa (KAS)
Price: $0.1403
24-hour gain: 6.37 percent
JasmyCoin (JASMY)
Price: $0.02158
24-hour gain: 5.10 percent
Toncoin (TON)
Price: $6.57
24-hour gain: 4.85 percent
Top Crypto Losers Today (May 23)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Core (CORE)
Price: $1.69
24-hour gain: 6.13 percent
Lido DAO (LDO)
Price: $2.08
24-hour gain: 5.73 percent
FLOKI (FLOKI)
Price: $0.0002235
24-hour gain: 5.73 percent
Pendle (PENDLE)
Price: $6.01
24-hour gain: 4.45 percent
Optimism (OP)
Price: $2.65
24-hour gain: 4.04 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin trades at the $69,000 level with profit booking by some players. However, the inflows into the spot Bitcoin ETFs shows that buying still continues. Even though BTC could clear the major barrier at $70,000 level, bulls could not push the price above the $73,777. The next support lies at the $68,500 level and the resistance lies at the $70,300 and then $71,500. On the other hand, Ethereum has outperformed Bitcoin by gaining 25% over the past seven days. If buyers retain the price above the $3,730 level, the next resistance is at the $4,100 level. Additionally, the U.S house approves the crypto FIT21 Bill with great democratic support. It is a significant move to establish regulatory clarity for digital assets markets.”
CoinSwitch Markets Desk noted, “With the deadline of ETH ETF application due today, markets are rather silent for two days in a row now. While BTC is showing good support at 69k levels, 3.8k USD is acting as a resistance level for ETH which needs to be broken. US Exchange NASDAQ has submitted an updated filing for Blackrock’s proposed ETH ETF, which again gives us a signal towards the potential approval of the ETF with several other exchanges also doing the same.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin seems ready for another upward trajectory, despite a minor pullback from the $70,000 level, which remains a significant point of resistance. Surpassing this level could propel Bitcoin to $72,000 with a bullish outlook. The current triangle pattern suggests potential for new highs. However, bears are firmly resisting, making it crucial for Bitcoin to overcome and maintain levels above $70,000. Successfully doing so would pave the way for a new all-time high above $80,000 by mid-2024.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “During the April 30 and May 1 FOMC meetings, Federal Reserve officials expressed concern about persistent inflation, which kept the short-term lending rate at 5.25% to 5.5%. The decision reflects continued inflationary pressures despite a slight decline in April's consumer price index to an annualised 3.4%. With consumer sentiment surveys suggesting rising inflation concerns, officials are cautious about cutting rates, emphasising patience and positive data for several months before considering a cut. Bitcoin (BTC/USD) is trading at $69,553, up 0.63%. 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.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap is hovering around the $2.59 trillion mark which is a slight increase over the last day. BTC and ETH are trading at $$69,507.76 and $3,785.60 respectively which is a marginal jump from the previous day. ETH has shown remarkable growth of over 25% in just 7 days which is much higher than BTC growth of over 5% during the same period. The euphoria around Ethereum ETF approval is driving its price north and with big wigs like Blackrock and Grayscale in the fray, Ethereum may continue its growth momentum in the coming weeks.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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