Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $57,088.49 (+0.07%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $4,597.31 (-2.21%), while Binance Coin has dropped by 1.64% and is now trading at $624.16.
FxPro's team of analysts say:
"The market capitalization of cryptocurrencies has declined by 1.8% over the past 24 hours to $2.59 trillion. Notably, Bitcoin has not been among the cryptocurrencies with the biggest losses, falling just 0.7% to $56,500.
On the daily charts of Bitcoin, the RSI remains in the lower half of the range, at around 45 points. The 50-day moving average is now at $60,700 and the 200-day moving average at $48,200, both moving horizontally. On balance, this does not mean Bitcoin is in a medium-term decline phase, but still adheres to a long-term growth trend.
The greed and fear index has lost another point, falling to 32. The market has not been able to accelerate the pace of recovery and has used fear as an excuse to buy due to the negative dynamic of the stock market. Players have rushed to withdraw some of the gains in those coins that have been growing at a faster pace lately. As a result, ETH/USD has lost 4% over the past day, Binance Coin 1.4% and Polkadot 5.6%.
Despite the latest downward spiral, the crypto market as a whole continues to distance itself from the situation in traditional finance, without going into a deeper correction mode."
According to CoinMarketCap’s ranking, 4 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,619,105,332,666.
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