Bitcoin has started the last day of the workweek with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $33,215.79 (-1.1%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $2,051.39 (-4.98%), while Tether has risen by 0.02% and is now trading at $1.
FxPro's team of analysts say:
"Bitcoin has lost more than 4% of its value over the past 24 hours and is currently trading at $33,000. At the end of the workweek, the coin is once again approaching the lower end of the range, proving the basic rule of the crypto market that what doesn't grow ends up falling. Sideways trends are a common occurrence, but in the current bull cycle, these were almost invisible, as their main potential was probably realized earlier, when the crypto winter ended.
The market cannot be said to be prone to impulsive moves; the total capitalization of cryptocurrencies shows rather insignificant changes even on the weekly chart. Large investors are paying more and more attention to the traditional market, so BTC as well as altcoins now play a secondary role.
The retail sector is waiting for new triggers, as neither good nor bad events are happening at the moment. It is hard to say what could be the next trigger for strengthening price dynamics, as we have seen that these can originate from the most unexpected place. At the moment, we can say that the Chinese negative factor has exhausted its potential, Elon Musk's tweets no longer affect DOGE and the market has frozen in anticipation of the next influencers."
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 $1,408,219,729,165.
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