Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $10,111.77 (+5.82%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $247.46 (+3.75%), while XRP has climbed by 3.23% and is now trading at $0.211.
FxPro's team of analysts say:
"Bitcoin has posted a growth of 6% over the last day and is currently trading at around $10,100. So far it has not completely abandoned the secondary trend in which it has been immersed for about a month. In early May, the largest crypto by market cap tried to break through the $10,000 resistance, however, it did not succeed due to bear pressure. The current momentum has returned the BTC/USD pair to its March highs. Growing above this resistance area could spur further growth and help the crypto quickly reach the $11,000 level. It looks like the withdrawal of a large number of currencies from circulation by whales as well as the growing demand by institutional investors through investment companies has led to the growth of the crypto.
The fear and greed index has added 6 points over the past 24 hours and has reached the 'greed' area. In theory, this could mean we are close to a sale, and if it starts at the current level, it could seriously affect the mood of the whole market immediately, attracting a large number of sellers. On the other hand, the RSI index has jumped to yesterday's levels, however, it is still far enough away from the overbought area, which could indicate the maintenance of the growth momentum."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $283,766,527,103.
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