Bitcoin has started the week posting minor losses. At press time, the largest cryptocurrency by market cap is trading at $7,195.72 (-0.31%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $183.68 (-0.05%), while XRP has dropped by 0.45% and is now trading at $0.192.
FxPro's team of analysts say:
"Bitcoin has remained around $7,200 over the past few days. According to CoinMarketCap, its daily trading volume is about $30B. On the other hand, altcoins are following Bitcoin's example posting minor losses. The Bitcoin dominance index has lost almost 1% over the last week to 63.4%, which can be considered good news. The declining in interest in Bitcoin amid rising prices clearly shows investor are interested in riskier trades.
The total capitalization of the crypto market has grown by $17B over the last seven days. The RSI index is in the neutral area, which reflects the theoretical ability of the crypto market to turn in any direction. While the BTC's ability to stay above $7,000 is good news for the crypto market in general, if it is not able to keep growing, sellers will likely enter the scene sooner or later."
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 $207.978.422.442.
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