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Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $12,174.16 (+3.36%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ethereum has grown to $379.04 (+0.06%), while XRP has fallen by 0.05% and is now trading at $0.247.

FxPro's team of analysts say:

"Bitcoin has overcome the psychological and technical barrier of $12,000 after posting an increase of over 4% over the last 24 hours. This growth has coincided with an increase in trading volumes. In addition, the rise in the crypto is happening right when traditional stock markets are experiencing some optimism, which is the reason why Bitcoin has a fairly high probability of developing growth from current levels.

The Bitcoin dominance index has grown by more than 1% over the last day, approaching 61%. However, the rest of altcoins have not followed its trend, which means that BTC is leading the market growth.

Among the most important factors supporting Bitcoin are the fall of the dollar index, the growth of weekly P2P transaction volumes up to $90M in the Bitcoin network (according to data provided by Arcane Research), the growth of the average Bitcoin transaction volume up to $150K and the growing interest of institutional investors in BTC."

According to CoinMarketCap’s ranking, 5 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $372,418,603,931.

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