Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $7,304.38 (-0.19%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $170.34 (-0.37%), while XRP has grown by 0.2% and is now trading at $0.198.
FxPro's team of analysts say:
"Over the past 24 hours, Bitcoin has found resistance at $7,400, where investors have started to sell it and have made it fall to $7,150, however, it has recovered shortly afterwards to $7,300. Investors started to buy BTC/USD again when trading volumes were quite low, which could indicate a weak recovery. The Bitcoin fear and greed index has risen by one point, however, it remains in the 'extreme fear' area. The RSI has also grown, although the basis of this price trend remains volatile.
The Bitcoin dominance index has fallen to 64%, which could be considered as a positive sign for the whole crypto market. Investors are not only buying the reference crypto, but also altcoins.
Participants in the crypto market are waiting for new triggers, especially regarding the situation of the coronavirus pandemic and the reaction of the stock market to these events."
According to CoinMarketCap’s ranking, 5 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $208,623,167,820.
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