Crypto Market Daily Highlights – Bitcoin Returns to $21,000

Key Insights:

• It is a bullish Friday session for the crypto top ten, with bitcoin (BTC) returning to $21,000.
• The NASDAQ 100 and riskier assets enjoyed a breakout week, as sidelined investors jumped in despite hawkish Fed chatter and US economic indicators.
• The total crypto market cap is up $62.58 billion to $1,009 billion, with 60 minutes of the session remaining.

It is a bullish Friday session for the crypto top ten. Bitcoin (BTC) leads the way, with a return to $21,000 for the first time since August 26. DOT and ETH lead the rest of the top ten while trailing BTC on the day.

There were no US stats to spook investors through the US session, allowing the BTC to eye a three-day winning streak. Sentiment towards the Fed monetary policy, inflation, and the economic outlook took a breather. The NASDAQ 100 rallied by a further 2.11% to end the week up 4.14%.

Despite hawkish Fed Chair Powell and FOMC member chatter, the NASDAQ 100 ended a three-week losing streak, which provided crypto support. The ECB’s monetary policy decision looks to have eased Fed fear following the Thursday policy moves that matched those of the Fed.

Crypto Market Returns to $1 Trillion for the First Time Since August

On Friday, the total crypto market fell to a low of $944.9 billion before surging to a high of $1,019 billion.

While easing back from the day high, the crypto market cap is up $62.58 billion to $1,009 billion. Three bullish sessions have reversed losses from earlier in the week. For the current week, the total crypto market cap is up $47 billion.

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a bullish Friday session for the crypto top ten.

Crypto market barometer BTC leads the way, rallying 10.8%, with DOT (+5.14%) and ETH (+5.31%) also enjoying solid gains.

However, ADA (+3.97%), BNB (+4.85%), SOL (+3.65%), and XRP (+3.76%) trailed the front runners.

From the CoinMarketCap top 100, it is a mixed session.

Ravencoin (RVN) leads the way, surging by 53.97%, with STEPN (GMT) and TerraClassicUSD (USTC) up by 20.72% and 25.83%, respectively.

Terra Classic (LUNC) and Helium (HNT) buck the top 100 trend, with losses of 12.08% and 2.07%, respectively.

Crypto Liquidations Surge as Extended Rally Hits Short Positions

Over 24 hours, total liquidations jumped as crypto short position holders became victims of an unexpected crypto rally.

At the time of writing, 24-hour liquidations stood at $372.09 million, up from $118.74 million on Friday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 103,210 versus 36,151 on Friday morning. Liquidations over one hour and twelve hours are higher, while four-hour liquidations are lower.

According to Coinglass, 12-hour liquidations stood at $189.87 million, up from $74.59 million on Friday morning, with one-hour liquidations up from $1.06 million to $2.33 million. However, 4-hour liquidations are down from $17.05 million to $12,32 million. The chart below shows market conditions throughout the session.