Bitcoin has started the day experiencing minor losses. At press time, the largest cryptocurrency by market cap is trading at $38,498.91 (-0.11%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has increased to $1,224.64 (+5.98%), while XRP has dropped by 2.55% and is now trading at $0.29.
FxPro's team of analysts say:
"Bitcoin has again found strong sales pressure on its way to $40,000, which has resulted in its growth slowing down. On the last day of the workweek, Bitcoin is trading at around $38,000, which could be considered a pretty decent result considering that just a few days ago there was the threat of a deeper correction. Crypto market participants perceive the fight for the $40,000 as part of the next stage of a powerful upward momentum, so fluctuations around this level won't cause panic among them.
The total capitalization of the crypto market remains above $1T, and the vast majority of the crypto market participants expect continued growth. While altcoins are supporting the dynamic of the reference cryptocurrency, special attention should be paid to Ether (ETH), as the altcoin is expected to once again attempt to exceed its ATH of around $1,400. Surpassing this level with confidence will open new growth perspectives for the currency.
The greed and fear index for Bitcoin and the largest cryptos has added 5 points over the last day to reach 88, thus remaining in the 'extreme greed' area. Crypto market participants have successfully ignored technical indicators over the last few months, so this situation is likely to remain unchanged until Bitcoin hits $50,000."
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 $1,041,608,326,245.
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