Bitcoin is posting minor losses this morning. At press time, the largest cryptocurrency by market cap is trading at $10,401.93 (-4.98%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $338.43 (-9.57%), while XRP has dropped by 6.62% and is now trading at $0.23.
FxPro's team of analysts say:
"Bitcoin, just like the rest of the crypto market, is in red posting a loss of 5% over the past 24 hours and trading around $10,500. The fall in Bitcoin has occurred with relatively stable trading volumes of $30B. However, the total capitalization of the cryptocurrency market has lost $19B during the last day. Bitcoin has fallen along with European and US futures, amidst the growth of the dollar.
The greed and fear index of Bitcoin and of the major cryptos has gone from 'neutral' to 'fear' in just one day. The stronger the fears in the market, the closer the start of the reversal will be and the more profitable it will be for investors to enter the market.
Investors have been driven from their stocks by fears of a new outbreak of the epidemic in the EU and the likely economic damage this could entail. In addition, there are other internal factors to be considered. According to Glassnode, at the end of last week, miners started to actively withdraw their mined Bitcoins from the exchanges, with withdrawals reaching a level almost three times higher than the average value of the last 30 days."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $329,777,892,273.
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