Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $40,228.78 (+0.4%), according to CoinMarketCap.
For its part, Ether has risen to $2,613.1 (+3.13%), while Tether has dropped by 1.9% and is now trading at $1.
FxPro's team of analysts say:
"Bitcoin has managed to surpass $40,000, however, the price of the cryptocurrency seems to be in no hurry to keep growing. Over the last day, the coin has shown a 3% increase and is trading at around $40,500. The highest price level during this day has been $41,000. The daily chart shows how active the fight between the bulls and the bears has been over the last 24 hours.
The very fact the benchmark crypto balances so close to the round level may indicate high risks of short-term breakout and pullback to the downside. The greed and fear index has added 10 points to 38, which corresponds to the 'fear' area, indicating that there is room for continued growth, while the growth dynamics indicate that the trend continues.
The RSI for the BTC/USD pair on the daily chart has risen to 50, staying away from the overbought level, which also indicates there is room for growth.
In the short term, Bitcoin looks vulnerable to fluctuations in investor sentiment, and it appears that active buying momentum may have already passed its peak. The news triggers have worked, but the balance between buyers and sellers may be tipped back towards the former, against the backdrop of profit-taking by those who have lost faith in the future development of the current cycle."
According to CoinMarketCap’s ranking, 7 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,728,967,426,760.
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