Bitcoin has started the day posting minor losses. At press time, the largest cryptocurrency by market cap is trading at $13,237.61 (-0.27%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has fallen to $379.06 (-3.11%), while XRP has dropped by 3.71% and is now trading at $0.237.
FxPro’s team of analysts say:
“Bitcoin has experienced few changes over the last 24 hours, and is currently trading at around $13,200. The altcoins market is in red territory, while investor funds continue to accumulate around Bitcoin. The Bitcoin dominance index has grown more than 2 points during the week to 63%. Thus, participants in the crypto market keep reacting to interesting news related to the crypto.
Bitcoin is about to pass an important test today with the expiration of options valued at $450M. According to CoinTelegraph, the current bull/bear ratio is 3:1. If BTC manages to pass this test without suffering significant losses and ends the week and month above $13,000, this could be considered a great victory for the reference crypto and the crypto industry in general, as it will clear the way for further growth towards $20,000.
The greed and fear index for Bitcoin and the largest cryptos has added 7 points during the last day to reach the ‘greed’ area. The higher the value of the index, the higher the probability that a correction will be initiated. However, if Bitcoin consolidates around the occupied levels without many volatility peaks, the indicator could return to more moderate values, leaving room for further growth.”
According to CoinMarketCap’s ranking, all currencies on the top 10 are in red territory.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $388,250,714,351.
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