Bitcoin has started the day in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $44,155.34 (+3.91%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $3,133.64 (+6.42%), while Cardano is up by 6.92% and is now trading at $2.27.
FxPro's team of analysts say:
"Bitcoin is trading at around $44,000 this morning. The short-term outlook is also relatively bullish: the fact that the coin touched levels below $40,000 during the early hours of Wednesday morning has clearly attracted buyers, whose interest is driving prices higher for the second day in a row. Thanks to this, in the near future, we can begin to talk about a cautious reversal of the latest downtrend.
In the meantime, the exponential action of a 'whale' has become known: last September 19, 616 BTC that had been standing still in the market since 2012, came into motion. During this time, their value has multiplied by 3,200. Observers believe this may yet be a sign of a further fall in the price of Bitcoin.
Although altcoins have resisted selling pressure for a long time, they eventually surrendered yesterday. However, investors see this as an opportunity to buy more coins at an attractive price. At the same time, some coins just keep growing, driven by Solana's enthusiasm."
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 $1,980,977,445,539.
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