• Tether, Solana see a hike in prices in the last 24 hours
  • The global crypto market cap falls 2.44%
  • Bitcoin price has increased 5.84% in the last seven days

After hitting record highs, top cryptocurrencies Bitcoin and Ethereum experience a plunge in prices. This comes along with other top cryptocurrencies opening bearish Thursday. The global cryptocurrency market cap has slid to $2.83 trillion, experiencing a 2.44% plunge, according to CoinMarketCap data.

Bitcoin price fell 2.14% in the last 24 hours to trade at $65,296 at 4 am ET. A slight cooldown in prices was experienced after BTC hit a record high of $69,530 Tuesday. In the last seven days, however, Bitcoin price has increased 5.84%.

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.

Ethereum, too, fell 0.11% in the last 24 hours to $4714.64. Compared to the last seven days, however, the price has increased by 4.53%.

Among other top cryptos, Binance Coin, Cardano, and Polkadot also received a bearish start to the day.

Cardano, which ranked number 4 Tuesday has again fallen to number 6 in the top cryptocurrencies chart. In the last 24 hours, its price has come down 4.19% to $2.13.

Polkadot has also seen a plunge of 5.29% in the last 24 hours, and its price stands at $48.86 at the time of writing.

Meanwhile, Solana and Tether opened bullishly. While Solana is valued at $244.79, a 1.04% in the last 24 hours, Tether is trading at $1.00 with a 0.03% upward tick in the last 24 hours.

Meme cryptos Dogecoin and Shiba Inu, which hogged the headlines last week, have also seen over 4% plunge in prices.

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

Bitcoin allows relatively small scale investors access to exchanges. IB Times UK

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