Bitcoin has started the day in a negative mood. At press time, the largest cryptocurrency by market cap is trading at $57,970.57 (-1.48%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $2,070.09 (-2.7%), while XRP has increased by 12.54% and is now trading at $1.
FxPro's team of analysts say:
"Bitcoin has fallen more than 2% over the past 24 hours and is currently trading at around $57,600, while the altcoins market remains in red, unlike the reference crypto. The total market capitalization of the crypto market has surpassed the psychological barrier of $2T, however, it has fallen back below this level. The Bitcoin dominance index has fallen to 55% after losing more than 4 points over the last 7 days. The interest in altcoins is seen as a good sign for the cryptocurrency market, however, there should be no strong distortions here either.
Bitcoin remains the locomotive and the main cryptocurrency that sets the direction of the whole crypto market, and long-term inactivity will sooner or later end up negatively affecting the prospects of the entire cryptocurrency market.
The greed and fear Index for Bitcoin and the largest cryptos has lost 3 points over the course of the last day to 72 points, which corresponds to the 'greed' area. The RSI for the BTC/USD pair on the daily chart is in the neutral zone, which makes it clear that the price of the coin could go either way. The significant growth of altcoins still causes alarm among market participants, recalling the periods when such a steep rise in altcoin growth meant Bitcoin was already too expensive for all investors who wanted to buy it."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,957,572,279,423.
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