Bitcoin has started the day in a negative mood. At press time, the largest cryptocurrency by market cap is trading at $62,990.15 (-2.34%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $2,476.26 (+3.82%), while XRP has lost 8.25% of its value and is currently trading at $1.76.
FxPro's team of analysts say:
"The Bitcoin price approached $65,000 last night, after which the wave of profit taking pulled it back to $61,000. Now the price has stabilized at $63,300. The growth of Bitcoin and the whole cryptocurrency market has been driven by Coinbase's direct stock offering (DPO) on the NASDAQ.
Increasingly, market participants agree that the wave of growth amid the Coinbase listing could be the final stage of the current market rally. At the very least, cryptos could undergo a major reset following this event. The wave of growth in all cryptos has resulted in the market cap reaching as high as $2.2T at some points.
The Bitcoin dominance index has decreased to 53.6% amid rising demand for altcoins. The greed and fear index for Bitcoin and the largest cryptocurrencies stands at 75 points, which corresponds with the 'greed' area in a fairly moderate way, suggesting there is room for continued growth. However, the RSI index on the daily chart for the BTC/USD pair has approached the overbought area at around 67 points."
According to CoinMarketCap’s ranking, 4 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,229,963,000,007.
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