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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 $63,208.07 (-3.02%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has fallen to $4,141.33 (-0.65%), while Binance Coin has dropped by 0.85% and is now trading at $488.11.

FxPro's team of analysts say:

"Bitcoin has suffered a drop of almost 3% over the last 24 hours and is currently trading at around $63,000. The asset started to correct after a strong growth spurt, however, at this stage this is an insignificant pullback compared to the scale of the growth. Moreover, this was expected and will not cause panic among market participants.

The community as a whole is very optimistic about the medium-term prospects of the reference cryptocurrency. There are reasons for good sentiment, as the SEC has approved the launch of another Bitcoin ETF, the Valkyrie ETF, which will start trading in the near future on the NASDAQ exchange. It looks like the series of ETF launches will be a new driver for BTC, comparable in scale to the fundamental events surrounding Tesla's investments.

The Bitcoin dominance index shows a slight decline, which is seen as a positive sign for the market as investors are investing in a wide variety of digital assets. The total market capitalization of cryptos amounts to $2.5 trillion. The RSI index for the BTC/USD pair on the daily chart experienced a sharp decline yesterday from the overbought area, which fully reflects the Bitcoin price dynamics, however, the indicator has stabilized and shows attempts to return to growth. We are likely to see a similar situation for Bitcoin today."

According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in red.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,593,880,100,769.

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