Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $6,591.68 (+11.57%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has climbed to $136.65 (+8.98%), while XRP has jumped by 4.93% and is now trading at $0.159.
FxPro's team of analysts say:
"Bitcoin has grown by 9% over the past 24 hours and is currently trading at around $6,500. Bulls are once again trying to push the crypto above $7,000. If they succeed, this could help the reference crypto grow beyond this level.
As usual, Bitcoin growth has dragged the rest of altcoins with it, so all coins on the top 10 are posting a 3-9% increase. The greed and fear index has risen several points since yesterday, but still remains in the 'extreme fear' area.
The market's continuous attempts to recover may convince investors that it is still possible to return to the levels reached before the collapse of the market. The futures of the major US indices are rising at the same time as Bitcoin, indirectly confirming this way the correlation between these assets. Furthermore, the fact that falls in the crypto market coincide with other similar events in the traditional stock markets is a confirmation of the growing influence of institutional investors in the crypto market."
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 $183,503,212,888.
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