Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $41,940.81 (+1.44%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has increased to $3,127.29 (+2.14%), while Binance Coin is up by 3.87% and is now trading at $474.28.
FxPro's team of analysts say:
"The crypto fear and greed index remains at 24 for the third consecutive day, which corresponds to the extreme fear area. However, such an underperformance of the index this time does not describe the dynamics of the market, whose total capitalization has been moving between $1.95 trillion and $2 trillion since Tuesday.
Bitcoin has added 0.6% over the past day to $42,000, largely ignoring the fall of US stock indexes on Wednesday.
Local positive dynamics in Bitcoin and Ether have been countered by a pullback in Cardano and a further drop in Solana as part of the weekly trend.
While buy moods are strong among market participants in stock market downturns, crypto bulls are also not giving up psychologically significant levels, which are currently $40,000 for Bitcoin and $3,000 for Ether.
The outcome of this confrontation today may be determined by the dynamics of the stock markets, where the key indexes, Nasdaq 100 and Dow Jones 30, have pulled back to their trend-setting 200-day averages."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,982,021,550,648.
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