Main page News, Bitcoin

Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,824.37 (+0.53%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has grown to $246.85 (+0.79%), while XRP has dropped by 0.39% and is now trading at $0.201.

FxPro's team of analysts say:

"Bitcoin keeps approaching $10,000. The trading volume on the Bitcoin network has increased by 16% over the past day, which, combined with the price increase, has formed the basis for a new attempt to overcome this psychological barrier. The current growth phase of Bitcoin is characterized by a constant smoothness, which is a rather rare phenomenon for cryptos. Silent growth could be considered the best possible scenario for Bitcoin.

This growth is likely driven by demand from institutional investors. CryptoCompare has reported trading volumes for popular crypto derivatives among institutional investors soared in May to an all-time high of more than $600B.

The greed and fear index and the RSI remain in the neutral area, which also indicates a potential further growth.

Overnight there has been a growth in activity in the USDT network. According to WhaleAlert, $64M in USDT have been transferred. While this is not a large volume for the crypto market, increased activity between wallets is often related to future manipulations in the price of Bitcoin."

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 $279,182,208,009.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error