Cryptocurrency Price on May 27: Bitcoin falls below $68.7k level; Dogecoin, Chainlink decline up to 4%

Major crypto tokens were trading in the red on Monday, dragged down by bitcoin (BTC), XRPand Dogecoin. btc fell 0.9% to $68,678 in today's trading, while Ethereum rose more than 3.4% to $3,915.

Ethereum, the largest altcoin, has seen notable growth since the news of the SECOND approve the list of ETH ETFs went public. Ethereum has generated stellar returns of around 27% in just seven days and the momentum is expected to sustain in the coming weeks due to favorable macroeconomic factors, said Shivam Thakral, CEO of BuyUcoin.

Bitcoin witnessed a marginal drop in its price over the weekend and is trading at $68,700 at the time of writing. Bitcoin needs to stay above the $70,000 level for at least a couple of weeks to spark a fresh rally, Thakral said.

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Edul Patel, CEO of mudrexsaid: "Bitcoin is facing major resistance at the $70,000 level. If there is a fresh rise, the immediate resistance is at the $69,500 level and support lies at $68,000. On the other hand, Ethereum established a new peak on moving above the $3,800 resistance. It is currently trading above the $3,900 level and aiming towards $4,000.”Also read: Election-year economic policies could propel Bitcoin to new heights, predicts WazirX's Rajagopal MenonAmong other major crypto tokens, XRP (-2%), Dogecoin (-4%), Avalanche (-1.7%), Link of the chain (-3.2%), Tron (-1.5%), Bitcoin Cash (-2%) and NEAR Protocol (-3.6%) decreased. cryptocurrency The market capitalization fell by 0.02% to around $2.57 trillion in the last 24 hours, while the total crypto market The volume was 67.94 billion dollars, representing an increase of 29.82%. The volume of all stablecoins is now $61.63 billion, representing 90.71% of the total 24-hour crypto market volume, according to data available on CoinMarketCapIn the last 24 hours, the market capitalization of Bitcoin, the world's largest cryptocurrency, fell to $1.353 trillion. Bitcoin dominance is currently 52.55%, according to CoinMarketCap. BTC volume in the last 24 hours increased by 21.2% to $18.63 billion.

(Disclaimer: The recommendations, suggestions, views and opinions provided by the experts are their own. These do not represent the views of The economic times)

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