Cryptos On Nov. 16: Bitcoin, Ether Slide As Bearish Sentiment Weighs On Market

The crypto market saw bearish sentiment deepening Tuesday, with top coins including Bitcoin and Ethereum plunging in value. BinanceCoin and XRP also saw downward pressure.

The global crypto market cap slid 64.96% in the 24 hours ending 2.21 a.m. ET CoinMarketCap data showed.

Bitcoin was down by 7.98% in the previous 24 hours and trading at $60,564. The second most popular coin, Ethereum, also saw a plunge of 7.06% in the same period and was trading at at $4,363.

Both the top cryptocurrencies had hit record-highs on Nov. 9. Compared to the previous week, Bitcoin was down 10.91% and Ethereum 9.48%.

Meme crypto Shiba Inu, which has spiked in the last few weeks, tumbled 3.73% to $0.0000503, while its competitor Dogecoin fell more than 6% to $0.2474.

Among other coins, BinanceCoin was down by 7.16% and was trading at $605.99. XRP experienced a similar fall and was trading at $1.12. Solana and Cardano were also down by over 5%.

Polkadot, on the other hand, plunged a whopping 10.22% and was trading at $41.96.

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