Crypto Market Daily Highlights – BNB and BTC Lead the Top Ten
- It is a mixed Wednesday for the crypto top ten, with binance coin (BNB) and bitcoin (BTC) leading the top ten.
- The Bank of England calmed the markets on Wednesday, which had hit deep red in response to Apple’s iPhone 14 production news.
- With 140 minutes of the session remaining, the total crypto market cap is up $14.1 billion to $910.0 billion.
It is a mixed Wednesday session for the crypto top ten. BNB and BTC lead the top ten, while ADA struggles through the mid-week session. A choppy session saw BTC fall to sub-$18,500 before bouncing back. However, BTC is on target to fall short of $20,000 for the ninth time in ten sessions.
Through the early part of the Wednesday session, news of Apple Inc (AAPL) pulling plans to ramp up the production of the new iPhone 14 product suite weighed on riskier assets. However, the Bank of England calmed market tension later in the session by buying longer-dated bonds to combat the impact of the UK Government’s mini-budget on the British Pound.
Throughout the session, the crypto market recoupled with the NASDAQ 100, which ended the day up 2.05%. Ahead of the BoE intervention, the NASDAQ 100 Mini had spent most of the day in negative territory.
Crypto Market Bounces Back in Risk-On US Session
On Wednesday, the crypto market cap tumbled to an early low of $865.4 billion in response to the Apple news. However, in response to the BoE intervention, the crypto market cap rose to a late high of $917.8 billion before easing back.
With 140 minutes of the Wednesday session remaining, the crypto market cap is up $14.1 billion to $910.0 billion.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
It is a mixed Wednesday session for the crypto top ten.
ADA currently bucks the top tend trend, with a 0.23% loss.
From the CoinMarketCap top 100, it is a mixed session.
24-HourCrypto Liquidations Ease Back as Risk Aversion Subsides
Over 24 hours, total liquidations fell back during the Wednesday session, supported by a mid-session shift in risk appetite.
At the time of writing, 24-hour liquidations stood at $124.53 million, down from $154.14 million on Wednesday morning.
Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 44,964 versus 49,758 on Wednesday morning. Liquidations were up over four hours and the final hour of the day (UTC) while down over 12 hours.
According to Coinglass, 12-hour liquidations stood at $56.39 million, down from $86.08 million on Wednesday morning. However, four-hour liquidations were up from $4.38 million to $14.28 million, with one-hour liquidations up from $1.92 million to $3.06 million.
The chart below shows market conditions throughout the session.