Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,952.24 (-1.33%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $224.41 (-1.97%), while XRP has dropped by 2.89% and is now trading at $0.276.
FxPro's team of analysts say:
"Bitcoin has failed to stay above the psychological and technical barrier of $10,000. Contrary to what analyst expected, the FOMO has led to a massive sale, although the bears' attempt to cause a greater fall has been unsuccessful.
The crypto might enter a new consolidation process, which could attract more buyers. A large number of institutional investors will enter the market at the beginning of the working week, however, if Bitcoin does not manage to exceed $10,000, we could witness a further fall. The rule of 'what doesn't grow ends up falling' seems to be especially applicable to both Bitcoin and altcoins, which have also benefited from the optimism surrounding Bitcoin."
According to CoinMarketCap’s ranking, 7 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $285.220.860.465.
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