Bitcoin has started the day posting losses. At press time, the largest cryptocurrency by market cap is trading at $59,576.68 (-0.33%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has risen to $4,237.46 (+0.72%), while Binance Coin has increased by 0.80% and is now trading at $572.84.
FxPro's team of analysts say:
"Bitcoin is trading in a 1% range with no pronounced momentum to $60,000, losing 0.5% from the start of the day, but up 0.5% from 24-hour levels. The crypto market capitalization has experienced a 1% increase over the past day to $2.62 billion at the expense of altcoins.
At first glance, the consolidation of the crypto market after the recent downward momentum is a good sign. Locally, we pay attention to the cautious approach of the bulls, who are not in a hurry to buy and are waiting for clearer signals to access the market.
The chart picture is quite alarming at the moment: Bitcoin is drawing the fifth consecutive daily candle of decline, and each intraday low is lower than the previous one.
From a technical point of view, BTC on daily charts continues to move around its 50-day moving average, which has been assuming the role of trend indicator for several years. The failure and consolidation below this line (today it passes $59,400) could trigger an even greater surrender by buyers, who may rush to take profits after October's growth."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,602,707,593,544.
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