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Bitcoin experienced a significant surge in value, surpassing $111,000 on international exchanges within the past 24 hours. By Thursday, May 22nd, it traded at approximately $111,593, marking a four percent increase according to CoinMarketCap.
Indian exchanges mirrored this positive trend, witnessing a five percent rise. Bitcoin’s price on CoinDCX and CoinMarketCap reached around $111,523.
Market analysts have pinpointed $106,200 as a crucial support level for Bitcoin. Further price movements are expected to encounter resistance near upcoming thresholds, suggesting potential price fluctuations in the short term. The cryptocurrency market remains dynamic, and investors are closely monitoring these key support and resistance levels.
