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Bitcoin has started the day posting minor losses. At press time, the largest cryptocurrency by market cap is trading at $9,197.03 (-0.58%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has fallen to $238.67 (-1.37%), while XRP has dropped by 1.34% and is now trading at $0.196.

Bitcoin's hashrate yesterday reached a new all-time high above 125 TH/s. It has been 63 days since the Bitcoin halving, in which the reward given to miners for mining a block was reduced by half. Contrary to what skeptics expected, the reduction in rewards from 12.5 to 6.25 BTCs has not pushed the crypto's hashrate down due to the inability to process transactions.

FxPro's team of analysts say:

"Bitcoin's price has fallen slightly over the past 24 hours and is currently trading at around $9,200. It should be noted trading volumes have increased at the same time. The Bitcoin dominance index has also grown again and is trying to make up for the lost territory recently.

Investors have turned their attention back to Bitcoin after losing interest in altcoins. After enjoying a brief but outstanding growth, altcoins have moved into red territory. Thus, Dogecoin (DOGE), which has been the symbol of this brief upturn, is now falling by 13%.

CoinTelegraph has concluded the correlation between Bitcoin and the stock market remains strong. Bitcoin has a particularly strong connection with the S&P 500 index, where the correlation currently stands at 95%. We have to be particularly careful with what happens in the traditional financial market, as the current situation could lead to a sale of all assets at the same time."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $270,945,094,471.

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