Cryptocurrency Watch: Bitcoin, Ethereum slip; Cardano rises over 4-pc

On November 10, cryptocurrency prices remained in negative trajectory. The global cryptocurrency market capitalization is Rs 215.76 lakh crores, down 0.59 percent from the previous day, while the total crypto market volume is Rs 10,17,923 crores, up 12.25 percent.

Bitcoin's price is currently Rs 53,12,582, and its market share is 43.56 percent, down 0.07 percent from the previous day. On November 9, Bitcoin and Ether reached new highs, with interest in cryptocurrency adoption and concerns about inflation driving demand and flows into the asset class.

Despite the fact that both virtual currencies pulled back from their highs in the US session, their upward trajectory was clear. Both have gained nearly 70 percent against the dollar since the beginning of October, having more than doubled since June. Since the launch of a futures-based bitcoin exchange-traded fund in the United States last month, market sentiment has been building, raising expectations of flow-driven gains. Analysts predicted that digital assets would be well-supported due to large pandemic savings and more upbeat global growth prospects.

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