KEY POINTS

  • Bitcoins price cools down to $66,368
  • Other altcoins including Ethereum also see a fall in prices
  • Cardano claims back its #4 rank as Solana moves to #6

After running red hot the last few days, Bitcoin has cooled down a bit. The crypto, which had hit a record high of $69,530 Tuesday, was trading at $66,368 Wednesday at 1.47 a.m. ET. Ethereum, too, experienced a plunge in the last 24 hours, according to CoinMarketCap data. 

The break has brought down the global market cap of cryptocurrencies by 1.31% in the last 24 hours, to $2.90 trillion. 

There is speculation that the world’s most popular crypto, BTC, could enter the six-figure territory during this bull cycle. However, it faces a big hurdle in the short term -- $70,000, which indicates that Bitcoin may need strong buying pressure to achieve the milestone, according to crypto analysts

The second most popular crypto, Ether, touched the $4,800 mark Tuesday but has since cooled off a little and fallen 1.88% to $4716.15. 

Among other top cryptos, Cardano has seen a surge of 2.12% in the last 24 hours and is now priced at $2.2186. The rally has once again brought Cardano to the number 4 position, pushing Solana down to number 6. While Binance Coin remains at number 3, Tether is now at number 5. 

Other top coins, like Polkadot, have also cooled down a bit. While Solana has lost 2.6% in the last 24 hours, Polkadot is down 4.53% in the same time period. 

Meme cryptos Dogecoin and Shiba Inu, which hogged the headlines last week, have also seen an almost 4% plunge in prices. While Dogecoin is valued at $0.271, at the time of writing, Shiba Inu is trading at $0.00010. 

The crypto market is extremely volatile and experts recommend investors not to make decisions based on the sudden shift in prices. 

Bitcoin prices Bitcoin prices have risen ahead of the launch of a new investment vehicle on the New York Stock Exchange linked to futures of the cryptocurrency Photo: AFP / Ozan KOSE