Bitcoin has started the last day of the workweek with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $56,651.07 (+2.07%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $1,794.88 (+0.86%), while XRP has risen by 0.18% and is now trading at $0.457.
FxPro's team of analysts say:
"Bitcoin has added about 3% over the past 24 hours and is currently trading slightly above $57,000. It must be noted the coin hit $58,000 overnight, a level where the pressure from sellers increased. However, it is clear the pressure is very small at this stage, and it is very likely that we will soon see the coin attempt to reach $60,000, a level at which Bitcoin will face a real test of investor confidence.
This price level may be considered acceptable for profit withdrawal even by late investors who opened positions long after the coin reached $30,000, not to mention those who entered the market after Bitcoin's collapse in March 2020.
The greed and fear index for Bitcoin and the largest altcoins has lost 3 points over the past day to 70, which corresponds to the 'greed' area. Therefore, the technical indicator suggests there is room for further growth.
In the event the crypto rises above $60,000 with confidence and there is a bulls' victory in the subsequent correction, the way may open for Bitcoin to grow to $70,000."
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 $1,728,771,806,082.
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