KEY POINTS

 

  • 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-price-bubble-btc-bull
Bitcoin allows relatively small scale investors access to exchanges. IB Times UK
MEET IBT NEWS FROM BELOW CHANNELS

© Copyright IBTimes 2022. All rights reserved.