Cryptocurrency price on July 23: Bitcoin holds above $67,000 level; Avalanche, Polkadot decline up to 5%

Major crypto tokens traded mixed on Tuesday. Bitcoin, BNB, Solana, Dogecoin, Toncoin, Cardano, and Avalanche saw losses, trading down by up to 5%. Conversely, Ethereum, XRP, Polygon, and Pepe recorded gains, trading up to 1.5% higher.

Meanwhile, the global cryptocurrency market cap declined marginally by 0.13% to around $2.44 trillion in the last 24 hours.

As of 3:23 p.m. IST, Bitcoin was down 0.5% at $67,019, while Ethereum remained above the $3,500 level. Earlier in the day, Bitcoin touched $68,267.


"Bitcoin is consolidating around the $67,000 level as market participants book profits and the US dollar strengthens. Despite this, bullish sentiment remains strong, with Bitcoin gaining about 5% in the past week. The key resistance level is at $68,300, while support lies at $66,500," said Edul Patel, CEO of Mudrex.

Vikram Subburaj, CEO of Giottus Crypto Platform, said, "Bitcoin has zoomed past key resistance levels around $65,500 and is showing strong momentum as it surges towards $68,000. The price action continues to test the upper boundaries of BTC’s Bollinger bands, indicating that the momentum is likely to continue."

The volume of all stablecoins is now $67.9 billion, which is 73.61% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.321 trillion. Bitcoin's dominance is currently 54.24%, according to CoinMarketCap. BTC volume in the last 24 hours surged 45.1% to $44.48 billion.

Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin

Bitcoin (BTC/USD) is currently trading near $67,000, a slight decrease of almost 0.5%. On the 4-hour chart, $66,660 serves as a crucial pivot point for traders. Immediate resistance levels are seen at $68,420, followed by $69,250 and $70,090. Support is noted at $65,880, with further levels at $65,120 and $64,300.

Technical indicators offer mixed signals: the RSI sits at 55, indicating neutrality, while the 50-day EMA at $66,250 suggests a buying trend above $66,000. An ascending trendline near $66,660 provides further bullish support, with Bitcoin's outlook remaining positive above this level. However, a break below $66,660 could trigger a significant downtrend.

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