Bitcoin has started the first day of the workweek with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $36,220.14 (+0.35%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $2,766.83 (+2.85%), while Tether has risen by 0.02% and is now trading at $1.
FxPro's team of analysts say:
"Bitcoin has been almost unchanged over the past 24 hours and is currently trading at around $36,000. The market's largest crypto has been in a sideways trend over the past week, trading volumes are down around $30 billion, indicating a tendency for players to watch from the sidelines. Obviously, the market lacks triggers to continue its rally, but the fact that the currency is not allowed to fall below $35,000 is the main good news.
The greed and fear index for Bitcoin and the largest cryptocurrencies is at 15, which corresponds to the 'extreme fear' area. The RSI for the pair BTC/USD on the daily chart is around 40, rising from oversold levels. While technical indicators point to substantial buying room, in fact, we may not see any significant upside momentum in the near term.
Sentiment in the community indicates a growing willingness to accept the fact that the market is entering a bearish phase. The fact is that each new day without growth reduces the number of optimists. Given this scale of growth in recent months, the temptation to take profits may become stronger."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,656,165,787,792.
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