Bitcoin has started the workweek with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $61,515.86 (-1.08%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $4,352.64 (+0.98%), while Binance Coin is up by 2.08% and is now trading at $540.54.
FxPro's team of analysts say:
"Bitcoin has added 1.8% over the past 24 hours, returning above $61,700. The RSI index on the cryptocurrency's daily charts has returned to growth, leaving behind the overbought period of the middle of last month.
At the same time, most of the leading altcoins are posting even greater rises: Ether has strengthened by 3.3% and Dogecoin by 4.8%. The growth of altcoins has pushed the total crypto market capitalization to new all-time highs, surpassing $2.66 trillion.
The fear and greed index has dropped one point to 73, while remaining in 'greed' territory. These are pretty high levels. The last two times we have seen the index stabilize at roughly the same high in May and September before sharp declines. However, this time we are paying attention to the broad front end of the altcoins offensive and the all-time highs in cryptocurrency market capitalization; these are all signs that the bullish move is gaining momentum. In fact, we have yet to see a FOMO episode in this rally, so the sharpest part of the rally in this momentum is yet to come."
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 $2,654,556,789,550.
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