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Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $8,582.94 (-1.78%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has fallen to $164.96 (-2.69%), while XRP has dropped by 2.87% and is now trading at $0.23.

According to CoinMarketCap’s ranking, all 10 currencies on the top 10 are in red.

FxPro's team of analysts say:

"The lack of positive news has made Bitcoin price fall by around 2% over the last 24 hours to $8,500. The rest of altcoins are suffering similar losses with the only exception of Bitcoin SV, which has lost more than 11% of its value. This drop is probably the result of the recent unfounded rally, so the crypto will likely post even greater losses after last week's rise.

Bitcoin's greed and fear index has been at the 'neutral' level for quite a while. The market remains optimistic, however, if we look at the crypto's daily chart, it reflects a second red candle after closing the day below the 200-day average, which might suggest a further decline is possible. Since institutional investors, who have invested a lot of money in the market, pay particular attention to technical indicators, this type of analysis might have a negative impact on the price of the reference crypto in the future."

As for the market cap of all currencies listed in CoinMarketCap, it stays at $236,576,266,422.

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