On Wednesday, April 7th, the price of bitcoin falls. At 09:35 GMT, the first cryptocurrency is trading at $ 58,257.36 (-1.25%), according to CoinMarketCap.
Bitstamp BTC / USD Chart by TradingView
Ether fell to $ 2103.33 (-1.42%). Binance Coin is up 8.21% to $ 412.37.
The FxPro analyst team notes:
“Bitcoin loses more than 2% per day and trades about $ 57,600, while the altcoin market is fully pulling the blanket over itself, as opposed to the sliding first cryptocurrency. The total capitalization of the crypto market touched $ 2 trillion, but after that it was again below the threshold value. The bitcoin dominance index continues to decline to 55%, having lost more than 4 points over the past 7 days. Interest in altcoins is considered a good sign for the crypto market, however, there should not be strong distortions here either.
Bitcoin is still the locomotive and the main cryptocurrency that sets the direction for the entire crypto market, and long-term idleness will sooner or later negatively affect the prospects for the entire crypto market.
The greed and fear index for bitcoin and the largest cryptocurrencies decreased by 3 points over the course of a day to 72, which corresponds to the “greed” regime. The RSI for the BTC / USD pair on the daily chart is in the neutral zone aside, noting almost equal potential for both up and down as the next step. The significant growth in altcoins still causes alarm among market participants, recalling the period when such a sharp surge in growth for alternative cryptocurrencies meant that bitcoin was already too expensive for the majority, and everyone who wanted to – bought it. “
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