Bitcoin has started the day with a negative dynamic. At press time, the largest cryptocurrency by market cap is trading at $41,332.96 (-1.27%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $3,061.65 (-3.22%), while Tether has increased by 0.06% and is now trading at $1.
FxPro's team of analysts say:
"The market capitalization of cryptocurrencies has fallen another 1.4% to $1.97 trillion. Attempts to bounce back above the round level have faced more pressure since the morning. It is worth noting altcoins are falling at a faster pace this time.
Bitcoin has lost 1% of its value over the past day and its share of total market capitalization has risen to 40%. The turning point in the trend was set at the beginning of the week. And this means the crypto market is starting to get really scared.
Interestingly, the fear and greed index remains around 24 points for the second day: extreme fear. These are low levels, but they do not indicate a deterioration of the situation, and even, on the contrary, the index is rising.
Bitcoin is trading near $41,700 and yesterday managed to stay above $40,000 in spite of the huge pressure from traditional markets. However, this local support is unlikely to withstand the constant pressure."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,941,529,124,603.
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