Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $11,689.08 (+0.67%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $424.38 (+4.73%), while XRP has jumped by 2.25% and is now trading at $0.282.
FxPro's team of analysts say:
"Bitcoin has started the week with a moderately positive trend and still recovering after recently falling to $11,000. The crypto is currently trading at around $11,700, while its trading volume also remains stable at around $19B. Bitcoin registered little change last week as it awaits further triggers. Despite this anemic dynamic, the greed and fear index is in the 'greed' area, indicating the existence of a liquidation perspective.
On the other hand, the RSI index reflects the current price dynamics more accurately. However, these indicators do not usually take opposite directions, so there is a chance the former is more accurate in this case, and it is worth considering the possibility of a correction in BTC. Meanwhile, the crypto ended up last week above $11,500, a level that seems to be supporting both Bitcoin and altcoins.
Investors are likely to lose interest in the 10 largest cryptos by market cap with the emergence of new competitors that cannot be ignored. Of course, we are talking about yearn.finance (YFI), which reached $36,000 over the weekend and has sneaked into the top 30 largest cryptos. If Bitcoin were to register similar growth, we would not only start the work week in a FOMO state, but with even greater excitement than in 2017."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $372,741,713,935.
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