Bitcoin has started the last day of the workweek with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $36,823.25 (+1.66%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $2,395.89 (-0.43%), while Tether has dropped by 0.05% and is now trading at $1.
FxPro's team of analysts say:
"Bitcoin has tried to strengthen in the morning, however, it has started to fall in the US session along with the US stock indexes. The US stock market has fallen after Thursday's trading results, although it has opened with growth. The technology index NASDAQ has suffered particularly large losses.
Investors continue to withdraw from US stocks amid the expected tightening of monetary policy by the US Federal Reserve. Yesterday, the US central bank, after its meeting, reported it would start raising interest rates in March, cutting the entire stimulus program at the beginning of the month.
In the future, the regulator will start to reduce the Fed's balance sheet. In such circumstances, investors will continue to reduce their positions in risky assets. And cryptos could be the first to suffer the consequences."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in red.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,660,469,088,170.
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