On Monday, August 24, bitcoin is still trying not to fall below the $11,600 mark. At press time, the largest cryptocurrency by market cap is trading at $11,771 (+1.21%).
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum also stays above $397 (+1.57%). XRP is trading at $0.287 (+1.87%).
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FxPro's team of analysts say:
"If we take the possible correlations between bitcoin and the traditional market, then precious metals and stocks showed near-zero dynamics, which is quite comparable with what is happening around bitcoin right now."
The total cryptocurrency market capitalization is $367,4 billion, according to CoinMarketCap.
iHodl earlier reported that 21 Analytics, a Switzerland-based software developer focused on financial crime prevention for virtual asset service providers, carried out the first automated crypto trade that complies with the state's watchdog guideline.
The transaction was carried out by Zurich-based Crypto Finance AG and Mt Pelerin, a Swiss fintech firm, under Finma's money laundering ordinance.
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