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Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $42,174.95 (+0.69%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has fallen to $3,118.57 (-1.08%), while Tether remains unchanged at $1.

FxPro's team of analysts say:

"The crypto market as a whole has lost 0.6% over the past day, but since the start of the day has added 1.6% to $1.96 trillion after falling to $1.86 trillion at the peak of the decline on Monday night.

The crypto greed and fear index has lost 2 points in one day, falling to 21. This is still extreme fear, as it was yesterday and a week ago.

The broader technical picture has not changed, indicating local oversold, which puts buyers who have been waiting for a discount in recent days on the run.

And the market gave them the opportunity to buy yesterday. Following the Nasdaq's intraday drop of more than 2%, the two major cryptocurrencies, Ether and Bitcoin, gave up their psychologically important marks, retreating to $3,000 and $40,000, respectively.

However, in all cases, the drop was redeemed. The Nasdaq closed with a nominal drop, and Bitcoin very quickly returned to levels near $42,000. Ether now trades at $3,100, adding more than 1% since the start of the day."

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 $1,971,650,751,025.

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