Bitcoin has started the day posting losses. At press time, the largest cryptocurrency by market cap is trading at $9,516.57 (-2.31%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $210.47 (-1.37%), while XRP has dropped by 1.42% and is now trading at $0.201.
FxPro's team of analysts say:
"Bitcoin does not usually stay in lateral trends for long. This time, bears have started to sell the crypto and have pushed it down to $9,500 after BTC failed to reach $10,000 and spent several days trading around $9,800.
In spite of the fact that the crypto has tried to resist, lateral trends always end up the same way, which means investors will continue to sell the reference crypto. Bitcoin has lost 2% over the past 24 hours and is currently trading at around $9,500. The altcoins market is also in negative territory. The total capitalization of the crypto market has lost almost $6B in just one day. The greed and fear index has fallen by 3 points after growing by 12 points last week.
Investor sentiment is clearly deteriorating. If the crypto is not able to break above the $10,000 barrier again, bears will not hesitate to take advantage of this opportunity. In the next few days, the old proverb 'what doesn't grow ends up falling' will be confirmed, a proverb that is especially applicable to the crypto market."
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 $262,167,083,418.
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