The post Crypto Price Analysis 5-23: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, DOGWIFHAT: WIF, INJECTIVE: INJ appeared on BitcoinEthereumNews.com.
The crypto market’s rally tapered off after Bitcoin (BTC) settled between $110,000 and $111,000. The flagship cryptocurrency shattered its previous all-time high as it surged to $111,970, entering a period of price discovery. However, it registered a decline from this level, ultimately dropping to its current level at around $110,700. BTC is marginally down over the past 24 hours, taking a breather and consolidating around recent highs. Meanwhile, Ethereum (ETH) continued its upward trajectory, with the price up over 2%, trading around $2,690. Buyers will look to retain momentum and push the price above $2,700. Ripple (XRP) also continued its upward trajectory and is up 1.37%, while Solana (SOL) reclaimed $180 with an increase of over 3% in the past 24 hours. Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Polkadot (DOT), Toncoin (TON), and Litecoin (LTC) also registered notable increases. Meanwhile, the crypto market cap crossed $3.50 trillion, registering a marginal increase in the past 24 hours. Dow Jones Ends Flat As Bitcoin Surges US stocks registered a mixed performance as markets came to terms with the House’s approval of President Trump’s tax-and-spending package. As a result, the S&P 500 dropped 0.04%, while the Dow Jones Industrial Average traded flat. However, the Nasdaq Composite registered an increase of 0.28%. According to estimates by the Congressional Budget Office, the legislation adds $4 trillion to the federal deficit and includes sweeping tax cuts and increased military spending. The bill passed the House by a single vote after last-minute revisions, including expanded deductions for state and local taxes. The bill will now head to the Senate. Analysts believe weak demand at Wednesday’s 20-year bond auction fueled a sell-off in Treasurys. Additionally, concerns about debt sustainability persist. Argent Capital’s Jed Ellerbroek stated, “Short term, the tax bill is good for the…