Bitcoin has started the week growing. At press time, the largest cryptocurrency by market cap is trading at $6,242.93 (+1.04%), according to CoinMarketCap. The decline Bitcoin suffered over the weekend was preceded by the expiry of Chicago Mercantile Exchange (CME)'s March BTC futures, which happened just an hour and a half before Bitcoin started to fall.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $130.79 (+0.79%), while XRP has dropped by 0.77% and is now trading at $0.172.
FxPro's team of analysts say:
"The secondary trend Bitcoin was suffering has ended in a sharp decline in which the reference crypto has fallen below the $6,000 mark, where buyers regained interest in the crypto. As a result, Bitcoin has started the week trading above $6,200.
The greed and fear index has lost several points again, consolidating in the 'extreme fear' area. It looks like this index only reflects market concerns without taking into consideration the investors' interest in buying during recessions. On the other hand, the RSI index remains in the neutral area.
Even though market participants are aware of the attempts made by central banks to get rid of the symptoms of a serious illness, they know the process of isolation and the fall in demand will eventually affect the global market. Unfortunately, cryptos are among the assets whose investment could be delayed indefinitely."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $174,623,005,696.
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