Cryptocurrency updates on November 10: Bitcoin tops $68k, cools down; Cardano surges 5%

Bitcoin, the world's largest cryptocurrency, surged to a lifetime high of $69,530 Tuesday but cooled to $67,000 by Wednesday morning. The rally has prompted new speculation that the coin can enter six-figure territory during this bull cycle. However, there is one hurdle in the short term: $70,000. The coin would need intense buying pressure and some patience, analysts said, to top $70,000, a psychologically significant level.

Among the top 10 cryptos, Cardano is the strongest coin, rising over 5 percent in 24 hours and 15 percent in the past seven days. This rally has once again changed the top 10 crypto landscape. Cardano has risen to number 4, Solana is back to number 6, and Tether is at number 5. Binance Coin remains at number 3.

Ether, the number 2 cryptocurrency, breached $4,800 Tuesday but it has cooled down a bit since then. The coin is down 1 percent at $4,730.  Ether rallied after reports showed the Ethereum network burned more coins than it issued last week.

Other coins have also cooled a bit, like Solana and Polkadot. While Solana is down 2 percent, Polkadot has lost 4 percent in the past 24 hours.

Dogecoin has also given up earlier gains, it is currently down 4 percent. Shiba Inu, the 11th largest coin by market cap, seems to be losing momentum, having declined over 18 percent in the last 7 days.

On Wednesday, the crypto market's total cap declined marginally to $2.90 trillion. Bitcoin's dominance also declined a little to 43.5 percent.

The Bitcoin Fear & Greed index that analyses sentiments and emotions of investors, reached into the 'extreme greed' category Tuesday. It was at its highest level since October 21. It means the market may undergo a correction since the investors are too greedy. However, since then it has ventured back into the 'greed' category.

Tim Cook, the Chief of Apple, has revealed he owns cryptocurrency but has no plans to buy it for the company. He said the investment was from a "personal point of view" and in no way represents Apple's crypto ambitions.

The world's largest digital currency manager, Grayscale, plans to convert its $40 billion Bitcoin product into a spot bitcoin exchange-traded fund. Besides, it has also applied to the Future of Finance ETF. This ETF plans to track shares of companies at the intersection of finance, tech, and digital assets.