Bitcoin Price in May 2023
In May 2023, bitcoin fell 7.0%, from $29,268.81 at the end of April to $27,219.66 per bitcoin on May 31, 2023. The highest close was $29,534.38 on May 5, 2023, the lowest $26,334.82 on May 24, 2023, and the average over 31 days was $27,499.31. Today's price is 186.1% higher than the May 2023 close.
Bitcoin ended May lower. What usually happens in June after a lower May →
- Bitcoin fell 7.0% in US dollars in May 2023, leaving it up 64.5% for the year to date.
- Measured in other currencies, the change ranged from −7.2% in NGN to +0.6% in ARS, because exchange rates moved too.
- It did worse than gold (−1.8%), silver (−4.5%) and US stocks (+0.4%).
- It closed higher on 14 days and lower on 17, with an average daily move of 1.37%.
- At the end of the month it was 59.7% below its highest close since 2014.
- Bitcoin in ounces of gold: 14.6 → 13.9.
- The biggest reaction to a scheduled US release was to the Jobs report (April 2023) on 5 May: +2.4% that day.
Bitcoin price chart, May 2023
US dollars per bitcoin · daily closeBitcoin in other currencies, May 2023
| Currency | Change in the month |
|---|---|
| ARS | +0.6% |
| ZAR | +0.2% |
| TRY | −0.6% |
| EUR | −4.3% |
| PKR | −4.8% |
| JPY | −5.1% |
| AUD | −5.5% |
| BRL | −5.7% |
| INR | −6.0% |
| GBP | −6.2% |
| CAD | −7.0% |
| NGN | −7.2% |
Price in each currency at each day's exchange rate, previous month-end to this month-end. A weaker currency makes bitcoin rise more in local terms.
Bitcoin vs other assets, May 2023
| Asset | Change (USD) |
|---|---|
| Bitcoin | −7.0% |
| Gold | −1.8% |
| Silver | −4.5% |
| S&P 500 (with dividends) | +0.4% |
| US inflation (CPI, month) | +0.25% |
| Bitcoin, year to date (end of May) | +64.5% |
| Bitcoin in ounces of gold | 14.6 → 13.9 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
The Fed and US Data in May 2023
Scheduled US releases this month and how bitcoin moved. For Fed decisions the move covers two sessions, because the statement comes after the gold futures settle.
| Date | Release | Result | Bitcoin |
|---|---|---|---|
| Wed 3 May | Fed rate decision | Raised 25 bp (5.00–5.25%) | +0.6% |
| Fri 5 May | Jobs report (April 2023) | — | +2.4% |
| Wed 10 May | CPI inflation (April 2023) | — | −0.1% |
Daily Bitcoin Prices, May 2023
Closing price for every day, with the same price in INR and EUR at that day's exchange rate.
| Date | Close (USD per BTC) | Change | India, ₹ per BTC | Euro, € per BTC |
|---|---|---|---|---|
| May 1Mon | $28,091.57 | −4.02% | ₹22,97,180 | €25,608 |
| May 2Tue | $28,680.54 | +2.10% | ₹23,45,457 | €26,048 |
| May 3Wed | $29,006.31 | +1.14% | ₹23,72,136 | €26,204 |
| May 4Thu | $28,847.71 | −0.55% | ₹23,57,322 | €26,171 |
| May 5Fri | $29,534.38 | +2.38% | ₹24,13,435 | €26,794 |
| May 6Sat | $28,904.62 | −2.13% | ₹23,61,973 | €26,222 |
| May 7Sun | $28,454.98 | −1.56% | ₹23,25,620 | €25,823 |
| May 8Mon | $27,694.27 | −2.67% | ₹22,65,034 | €25,185 |
| May 9Tue | $27,658.78 | −0.13% | ₹22,70,924 | €25,225 |
| May 10Wed | $27,621.76 | −0.13% | ₹22,62,771 | €25,147 |
| May 11Thu | $27,000.79 | −2.25% | ₹22,16,773 | €24,744 |
| May 12Fri | $26,804.99 | −0.73% | ₹22,00,698 | €24,564 |
| May 13Sat | $26,784.08 | −0.08% | ₹21,98,981 | €24,545 |
| May 14Sun | $26,930.64 | +0.55% | ₹22,13,707 | €24,814 |
| May 15Mon | $27,192.69 | +0.97% | ₹22,37,053 | €25,009 |
| May 16Tue | $27,036.65 | −0.57% | ₹22,25,008 | €24,882 |
| May 17Wed | $27,398.80 | +1.34% | ₹22,59,040 | €25,278 |
| May 18Thu | $26,832.21 | −2.07% | ₹22,19,697 | €24,900 |
| May 19Fri | $26,890.13 | +0.22% | ₹22,24,489 | €24,954 |
| May 20Sat | $27,129.59 | +0.89% | ₹22,44,298 | €25,176 |
| May 21Sun | $26,753.83 | −1.39% | ₹22,18,021 | €24,721 |
| May 22Mon | $26,851.28 | +0.36% | ₹22,23,957 | €24,837 |
| May 23Tue | $27,225.73 | +1.39% | ₹22,56,757 | €25,279 |
| May 24Wed | $26,334.82 | −3.27% | ₹21,78,250 | €24,481 |
| May 25Thu | $26,476.21 | +0.54% | ₹21,90,697 | €24,686 |
| May 26Fri | $26,719.29 | +0.92% | ₹22,10,810 | €24,913 |
| May 27Sat | $26,868.35 | +0.56% | ₹22,23,144 | €25,052 |
| May 28Sun | $28,085.65 | +4.53% | ₹23,19,167 | €26,193 |
| May 29Mon | $27,745.88 | −1.21% | ₹22,91,247 | €25,912 |
| May 30Tue | $27,702.35 | −0.16% | ₹22,90,538 | €25,810 |
| May 31Wed | $27,219.66 | −1.74% | ₹22,50,162 | €25,450 |
How May usually goes for bitcoin
In the 11 years from 2015 to 2025, bitcoin rose in May 6 times out of 11, with an average move of +9.1% and a median of +9.3%. Every May since 2014 →
Bitcoin in May 2023: FAQ
What was the price of bitcoin in May 2023?
Bitcoin traded between $26,334.82 and $29,534.38 per bitcoin (daily closes) in May 2023, averaging $27,499.31. It closed the month at $27,219.66.
How much did bitcoin go down in May 2023?
Bitcoin fell 7.0%, from $29,268.81 to $27,219.66. The biggest daily rise was +4.5% on May 28, 2023 and the biggest fall −4.0% on May 1, 2023.
What was the bitcoin price on May 1, 2023?
Bitcoin closed at $28,091.57 per bitcoin on May 1, 2023, the first day of the month. India, ₹ per BTC: ₹22,97,180.
Is May usually a good month for bitcoin?
In the 11 years from 2015 to 2025, bitcoin rose in May 6 times out of 11, with an average move of +9.1% and a median of +9.3%. Past seasonal patterns are not a reliable guide to any single year.
How much did bitcoin change in rupees in May 2023?
Bitcoin fell 6.0% in Indian rupee terms in May 2023, compared with −7.0% in US dollars.
Did bitcoin beat stocks in May 2023?
No. Bitcoin was −7.0% for the month, against +0.4% for the S&P 500 with dividends.
How did bitcoin react to the Fed and US data in May 2023?
Of 3 scheduled US releases this month, the biggest move came after the Jobs report (April 2023) on 5 May: +2.4%. The full list with each reaction is on this page.
Did bitcoin keep up with inflation in May 2023?
US consumer prices (CPI) changed +0.25% in May, so bitcoin's real (inflation-adjusted) change was about −7.2%.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026bitcoinpriceinmay, author = {{Corgano}}, title = {Bitcoin Price in May 2023}, howpublished = {\url{https://bitcoinprice.corgano.com/bitcoin-price-history/2023/may}}, year = {2026}, note = {Corgano Bitcoin Price, accessed 2026-11-01}}