Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $10,167.20 (-1.91%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $264.14 (-1.52%), while XRP has dropped by 0.75% and is now trading at $0.418.
FxPro's team of analysts say:
"Bitcoin has found strong resistance at the $10,500 mark, which has made it fall to $10,100 and then stabilize around $10,200. Over the past 24 hours, the reference cryptocurrency has lost more than 2% of its value, dragging the rest of altcoins with it. We must remember that in September last year BTC found itself in a similar situation which led to a massive sale that lasted 3 months.
The top 10 cryptos are posting losses between 2-4%. However, BTC has managed to stay above the $10,000 level for 3 days, which can be considered positive news. The RSI index has started to fall from the overbought zone, while the greed and fear index still remains in the 'greed' area. Market participants believe the crypto could fall below $10,000, however, they expect purchases to increase if this eventually happens. As a result, if BTC does not want to fall into a massive sale, it should be able to stay above $10,500-10,600."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $299,383,823,477.
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