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Bitcoin has started the workweek in a positive mood. At press time, the largest cryptocurrency by market cap is trading at $62,679.38 (+2.87%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has risen to $4,168.7 (+1.56%), while Binance Coin is up by 0.58% and is now trading at $484.

FxPro's team of analysts say:

"Bitcoin has added nearly 2% over the past day and is trading at around $62,000. The reference crypto has experienced a sideways weekend, and the start of a new workweek could set the tone for the week. Overall, we can say that the scale of the Bitcoin correction is small. If the profit-taking has been fully implemented, then this could be considered great news for the crypto market as a whole.

The greed and fear index for Bitcoin and the largest cryptos is at 72, which corresponds to the 'greed' area, clearly indicating there is room for continued growth. The RSI for the BTC/USD pair on the daily chart has ended its decline from the overbought area, stopping at 62, which also indicates there is still potential for a return to growth. The Bitcoin dominance index is gradually declining, which is a positive sign for the market as it reflects the uniform demand for cryptocurrencies.

This week, the inclusion of tradable Bitcoin ETFs could increase, while the two SEC-approved ETFs are already trading successfully. From the downside is news that the lenders of the notorious Mt.Gox have approved a compensation plan for losses that includes 150,000 BTC. Payments could begin as early as November and there is a possibility that the Bitcoins received could end up being sold."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,588,437,698,937.

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