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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 $51,881.94 (+2.14%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has increased to $1,890.83 (+5.03%), while XRP has jumped by 1.93% and is now trading at $0.545.

FxPro's team of analysts say:

"Bitcoin has added 5.5% over the past 24 hours and is currently trading at around $52,100. Therefore, many of the things that market participants expected are actually happening to Bitcoin. The benchmark cryptocurrency has confidently surpassed the technically and psychologically most important level of $50,000, and almost a day after the sharp jump, the coin is maintaining its gains. Apparently, we have now reached the stage where there is a minimum of sellers in the market. The faster Bitcoin reaches new heights, the higher the level of greed and FOMO in the market, creating a potentially dangerous situation similar to that in 2017.

Then, the market showed there was only one way - up, but as this approach strengthened, another force appeared that began to play against market sentiment. At that time, the correction was initiated by CME futures, while now it may be a sell-off by some big funds or big names that have previously driven the market higher.

However, the greed and fear index for Bitcoin and the largest cryptos has lost 4 points over the course of the last day to 91, which corresponds with the 'extreme greed' area. Even though the indicator has been in an overheated state for a long time, this slight decline suggests even in this state, there is still room for further growth."

According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,576,620,002,232.

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