Bitcoin has started the day with a positive dynamic adding more than 1% over the past 24 hours. At press time, the largest cryptocurrency by market cap is trading at $55,343.84 (+1.78%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has jumped to $2,290.66 (+9.78%), while XRP has increased by 12.52% and is now trading at $1.42.
FxPro's team of analysts say:
"Bitcoin is trading at around $55,000 without showing any clear momentum in any direction over the past day. The reference crypto has posted a 12% drop so far this week, spooking market participants.
Unlike Bitcoin, most of the leading altcoins are growing. As a result, the total market cap of the crypto market is back above $2 trillion, of which $1 trillion is accounted for by Bitcoin. The BTC dominance index continues to decline, currently reaching 50.7%. The greed and fear index for Bitcoin and the largest cryptocurrencies has not changed over the past 24 hours, remaining at 73 points, which corresponds with the 'greed' area.
Therefore, the index shows there is still room to return to growth. The RSI for the BTC/USD pair on the daily chart has fallen sharply in recent days, being at a significant distance from overbought levels, which also indicates there is room for a return to growth. The leading cryptocurrency is now awaiting new triggers, although the ability to remain above $55,000 in itself could be great news for the whole market."
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 $2,050,236,323,841.
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