Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $10,610.4 (-1.2%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $340.7 (-3.57%), while XRP has dropped by 4.06% and is now trading at $0.246.
FxPro's team of analysts say:
"Bitcoin has fallen by almost 1.5% over the past 24 hours and is currently trading at around $10,600. As a result, the reference crypto has lost the recent momentum that had helped it grow slightly.
The greed and fear index for Bitcoin and the major cryptos has posted a drop of 4 points to 43 during the last day, falling to the 'fear' area. However, it is still far from the levels considered attractive to buy the crypto during recessions.
Most altcoins are also in red. All currencies on the top 10 are posting losses between 4% and 8%. The total market capitalization has fallen in one day by $9B to $332B. In this context, the Bitcoin dominance index has posted an increase of almost 1% overnight. Altcoin investors are becoming much more active, smoothing out the fall of Bitcoin.
The stablecoin Tether (USDT), which often benefits from negative sentiment in the crypto market, has seen its trading volumes increase by almost 31% to $44B in just one day. The crypto market is waiting for new triggers, and before they appear, a lateral price trend could be very good news for its participants."
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 $335,301,696,630.
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