Bitcoin has started the day in a negative mood. At press time, the largest cryptocurrency by market cap is trading at $62,440.86 (-0.49%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $4,196.18 (+0.8%), while Binance Coin is up by 0.14% and is now trading at $484.9.
FxPro's team of analysts say:
"Bitcoin has staged another attempt to move towards growth, and on the night of October 25, the coin jumped to almost $64,000, however, it did not take long to succumb to bearish pressure again. Over the past day, the crypto price has undergone slight changes, while altcoins demonstrate cautious, albeit positive price dynamics.
The cryptocurrency's greed and fear index has returned to the 'extreme greed' area at 76, while the RSI for the BTC/USD pair on the daily chart is some distance away from the overbought area at 62.
For the time being, market participants can perceive the sideways Bitcoin price trend as a period of adaptation to the new occupied heights, and it will not cause much nervousness. An increase in volatility is expected when moving out of the $60,000-65,000 range.
It is worth noting that the overall fundamental backdrop for Bitcoin has been very positive lately due to the long-awaited ETF launch, so a drop below $60,000 could only trigger even more buying from investors who are waiting for a discount to appear."
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 $2,607,443,723,962.
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