Bitcoin’s Fall in May Marks Its First Yearly Retreat of 2023
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A recent analysis revealed that the largest cryptocurrency by market cap, Bitcoin, has exhibited a massive fall in May, after reaching the 11-month high of $30,000. Since the beginning of 2023, BTC has been ascending on a positive track, with some exceptions, almost bouncing by 84%. In May the trajectory of BTC tumbled down by around 6%, marking the first monthly retreat of 2023.
At the press time, BTC is trading at a value of $27,196.69, showing a decline of 1.88% in the last 24 hours. The 24-hour trading volume of the cryptocurrency is $14,227,642,456 while its market cap, being ranked one, is $527,309,252,296.
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