Bitcoin has started the day posting losses. At press time, the largest cryptocurrency by market cap is trading at $9,540.54 (-2.07%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $257.46 (-3.73%), while XRP has dropped by 3.35% and is now trading at $0.265.
FxPro's team of analysts say:
"Bitcoin has lost about 2% of its value over the last 24 hours and is currently trading at around $9,600. At the moment there has not started any selloff as it looks like investors are giving the market one last chance. Bitcoin has been experiencing a lateral trend over the last 5 days similar to the one that dominated the market before previous corrections.
The market is alarmed by the changes in the trading volumes of BTC futures on Chicago Mercantile Exchange (CME). Thus, on February 21, volumes dropped by 90% to $118M compared to the weekly high.
On the other hand, the BTC greed and fear index remains in the 'fear' area, while the RSI index keeps falling, reaching levels similar to those registered at the beginning of the year, when cryptos started to recover."
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 $274,683,989,996.
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