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Bitcoin has started the day posting minor losses. At press time, the largest cryptocurrency by market cap is trading at $11,354.79 (-3.84%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has fallen to $373.63 (-4.77%), while XRP has dropped by 7.32% and is now trading at $0.277.

FxPro's team of analysts say:

"Bitcoin has lost more than 4% over the past 24 hours and is currently trading under $11,400. The rest of altcoins in the top 10 are posting greater losses - between 5% and 10%. The sentiment of the participants in the crypto market is undergoing an important test: are they going to buy now that prices have fallen or are they going to wait for even greater falls?

Technical indicators in the crypto market are falling, including the greed and fear index (which has lost 9 points over the last day) and the RSI (which has fallen from the overbought area). Its recent overbuying signs were a good omen for a sell-off. The total capitalization of the crypto market has lost $16B in one day.

Cryptocurrencies have started to fall along with gold and silver, highlighting once again the correlation with precious metals."

The market cap of all currencies listed in CoinMarketCap stays at $345,916,855,342.

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