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 by Bitcoin (BTC), XRP, and Dogecoin. BTC fell 0.9% to $68,678 in today's trade, while Ethereum surged over 3.4% to $3,915.

Ethereum, the largest altcoin, has witnessed remarkable growth since the news of the SEC approving the listing of ETH ETFs became public. Ethereum has delivered stellar returns of around 27% in just seven days and the momentum is expected to sustain in the coming weeks owing to favorable macroeconomic factors, said Shivam Thakral, CEO of BuyUcoin.

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


Edul Patel, CEO of Mudrex, said, "Bitcoin is facing a major resistance at the $70,000 level. If there is a fresh increase, the immediate resistance is at the $69,500 level and the support lies at the $68,000. On the other hand, Ethereum set a new peak by moving higher than the $3,800 resistance. It is currently trading above the $3,900 level and is eyeing towards $4,000."

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Among other major crypto tokens, XRP (-2%), Dogecoin (-4%), Avalanche (-1.7%), Chainlink (-3.2%), Tron (-1.5%), Bitcoin Cash (-2%), and NEAR Protocol (-3.6%) declined.

The global cryptocurrency market cap fell 0.02% to around $2.57 trillion in the last 24 hours, while the total crypto market volume was $67.94 billion, which makes a 29.82% increase. The volume of all stablecoins is now $61.63 billion, which is 90.71% 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 $1.353 trillion. Bitcoin's dominance is currently 52.55%, according to CoinMarketCap. BTC volume in the last 24 hours rose 21.2% to $18.63 billion.

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