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Bitcoin has started the week posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $11,995.22 (+2.54%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has grown to $396.94 (+0.48%), while XRP has jumped by 1.12% and is now trading at $0.297.

FxPro's team of analysts say:

"Bitcoin has reached $12,000 this morning, although it has met some resistance shortly afterwards. The crypto has grown by more than 2% over the past 24 hours. Last week, the reference crypto spent most of the time consolidating around $11,500. Even though it will likely keep rising, technical indicators suggest it will remain in the oversold area.

As such, the greed and fear index has been in the 'extreme greed' area since last week, while the RSI remains around the 'overbought' area. However, as we can see, this does not prevent Bitcoin from showing attempts to cautiously return to the next psychological and technical level.

The activity of the miners keeps the hashrate close to its all-time high, which confirms the confidence in the prospects of the reference crypto. In addition, the third Bitcoin halving, which occurred back in May, is also a key supporting factor. Although market participants did not expect an instant result, they still expect a positive effect within a few quarters."

According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $364,803,123,907.

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