Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $9,440.39 (-0.53%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $233.65 (-0.07%), while XRP has dropped by 0.64% and is now trading at $0.191.
FxPro's team of analysts say:
"Bitcoin has been fluctuating around $9,500 for two days in a row. In today's case, trading volumes remain unchanged. WhaleAlert has reported increased activity among the stablecoins USDT, USDC and BUSD. Almost all of yesterday's 'red flags' were associated with these currencies. This increase in activity usually happens before an increase in the price of Bitcoin, and later in the market in general.
The greed and fear index has posted an increase of several points during the last day, remaining in the 'fear' area. The RSI remains in 'neutral' territory, giving no signals in any particular direction. Even though Bitcoin has recently shown lateral trends do not always end in a fall, the prolonged stagnation in prices is even more negative for the whole crypto industry. Institutional investors could end up making important decisions in the traditional market. So if they start selling risky assets, Bitcoin could also be affected."
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 $267,631,820,877.
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