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Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $54,402.7 (+0.1%), according to CoinMarketCap. It must be noted that the coin has reached $56,000 overnight.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has increased to $2,730.34 (+4.6%), while XRP has risen by 2.86% and is now trading at $1.4.

FxPro's team of analysts say:

"Bitcoin has recorded an insignificant 1% growth over the past 24 hours and is currently trading at around $54,300. The reference crypto has recorded almost zero dynamics so far this week, which, given the recent decline, can be considered as good news for the market. The capitalization of the leading cryptocurrency has surpassed $1 trillion, which can also be considered a good sign for the currency, while the total cryptocurrency market capitalization is approaching $2.1 trillion. The Bitcoin dominance index continues to decline, reaching 48.8%, which indicates a safe demand for the cryptocurrency market as a whole.

One negative factor may be the SEC's statements about postponing its decision to launch a Bitcoin ETF till June. The US Securities and Exchange Commission maintains its policy of delaying its decisions on this matter as long as possible.

Analytics firm CoinMetrics has calculated the average fee on the Bitcoin network over the past 100 days was approximately $21 per transaction, a very high level compared to the times of the cryptocurrency winter, when millions of dollars were transferred for just a few cents. In this case, the most favorable scenario for Bitcoin may be the end of the workweek and the weekend at current levels, which will be another sign of the maintenance of price levels as the consolidation period passes."

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 $2,088,399,935,373.

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