Bitcoin completed the first red month in 2023 after falling 7 % in May (Market Watch)

Bitcoin completed the first red month in 2023 after falling 7 % in May (Market Watch)

The Bitcoin price slipped again when May came to an end, and so the asset recorded its first loss month since the beginning of the year.

Apart from Litecoin, QNT, GRT and some others, most old coins are not better.

BTC first red month in 2023

The most important cryptocurrency had a restless month. If you look at the end, you can see that despite several attempts, it has not been possible to break the resistance brand at $ 27,500. In addition, the asset in the last issue on Monday rose to $ 28,500 after the US government had agreed a debt limit.

However, this was only short-lived, since the cryptocurrency fell back to less than $ 27,500 by Wednesday. Yesterday's rejection was particularly harmful, since BTC fell by more than a thousand within a few hours.

Initially, he managed to stay above the $ 27,000 mark, but in the last 24 hours there was a new decline. This time Bitcoin fell to a multi -day low of $ 26,600. Although BTC has recovered by a few hundred dollars since then, the BTC still notes in the minus.

May even ended with a decline of 7 % and was the first loss month of the new year. Its market capitalization has decreased to $ 520 billion and its dominance compared to the old coins has dropped to 46.1 %.

Btcusd. Tradingview

Ada and LTC sit in the opposite corner

Most old coins also fell into the red area with low daily losses. ETH dropped to $ 1,850 after a decline. Binance Coin has decreased by the same percentage and is just under $ 305. Ripplesolana, Tron, Polkadot, Shiba Inu and Avalanche are also slightly in the minus.

Cardano has decreased most of the old coins with larger market capitalization. ADA has dropped by over 3 % and is $ 0.36. In contrast, Litecoin has increased by almost $ 4 and is traded over $ 90.

GRT has created the greatest added value among the 36 largest digital assets (5 %) and is around $ 0.15

Overall, the cumulative market capitalization of all crypto-assets has dropped by a further $ 10 billion a day. The key figure has dropped to $ 1.130 trillion in the last two days.

Overview of the cryptocurrency market. Quantify crypto