Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $46,456.54 (-2.48%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $1,795.09 (+2.72%), while XRP has jumped by 10.58% and is now trading at $0.517.
FxPro's team of analysts say:
"Bitcoin has fallen slightly over the past day and is currently trading at around $46,000, down from yesterday's high of $48,500.
An investment statement is more than a Twitter status and will therefore last longer. After reaching $48,000, Bitcoin has faced bearish pressure, however, judging by the daily dynamic, its resolve is very limited. Everyone understands the US continues to print money and investors continue to buy stocks and other assets that secure capital against inflation.
The greed and fear index for Bitcoin and the largest cryptocurrencies has lost 3 points over the past day to 92, which corresponds with the 'extreme greed' area. The technical indicator indicates a high probability of a massive sell-off, and the more actively the majority of market participants demonstrate their optimism and greed, the more likely it is that the time of reversal is approaching."
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 $1,404,667,072,658.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.