Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,794.49 (-0.02%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $268.21 (+6.97%), while XRP has jumped by 3.23% and is now trading at $0.291.
FxPro's team of analysts say:
"We are witnessing a rather strange phenomenon, as altcoins are showing clear signs of recovery posting a 5-18% growth after yesterday's fall, while Bitcoin is finding it difficult to grow today. At the moment, the reference cryptocurrency is trading at around $9,800. It fell to $9,500, where it received support from buyers. However, the growth seems to have lost momentum.
The greed and fear index has grown 4 points since yesterday, although it is still in the neutral area. Judging by the unexpected surge in volatility, it looks like whales could be trying to push weaker traders out of the market. In addition, statements by US Secretary of the Treasury Steven Mnuchin about possible significant changes in the regulation of the crypto sector could affect market sentiment."
According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $286,843,965,108.
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