Cryptos On Nov. 10: Bitcoin, Ether Cool Down After Hitting Record Highs; Cardano Surges

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.