Bitcoin, Ether Fall as Most Top Coins Trade In The Red

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Shares of an exchange traded fund linked to bitcoin futures rose in their NYSE debut
Shares of an exchange traded fund linked to bitcoin futures rose in their NYSE debut

The world's most sought after cryptocurrency, Bitcoin, fell slightly Thursday morning after trading in the green a day before. Alongside, rival coin Ethereum too lost 3.76% in the last 24 hours after the gains it notched up Wednesday. 

With this, the global crypto market cap fell 1.84% in the last 24 hours and was at $2.61 trillion as of 3.03 a.m. ET, the CoinMarketCap data showed. 

Bitcoin fell 0.34% in the last 24 hours to $56,923. This came after a slight surge Tuesday. Despite the roller coaster, certain market analysts remain confident that the top coin is set to touch $100k and go beyond that mark. 

Ethereum, which was inching closer to a new all-time high Tuesday, was trading at $4,574. 

Among other top coins, Binance Coin and Cardano slid in the last 24 hours. Polkadot too shed 4.60%. Meme cryptos Dogecoin and Shiba Inu also were subject to bearish sentiment in last 24 hours. 

The bearishness comes amid talk of Bejing tightening rules for NFTs and metaverse in the cryptospace, along with the restrictions on crypto mining and tokens it has already impose. 

Meanwhile, Solana, also called Ethereum-killer, rose 2.65% in the last 24 hours along with Tether, which rose 0.03%. 

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




Photo: GETTY IMAGES NORTH AMERICA / SPENCER PLATT

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