Advertisement
Advertisement
Crypto Market Daily Highlights – BNB Bucked the Top Ten Bearish Trend
By:
It was a bearish end toa bearish week for the crypto market, with Fed fear and sentiment towards the economic outlook weighing.
Key Insights:
- It was a mixed Sunday for the crypto top ten, with binance coin (BNB) bucking the trend.
- The NASDAQ 100 Mini delivered a final hour (UTC) pullback to leave the crypto market in the red for the session and the week.
- The mixed session left the crypto market cap down $13.9 billion to $884.6 billion.
It was a mixed Sunday session for the crypto top ten. BNB bucked the broader market trend, while XRP led the way down, with a return to sub-$0.45. BTC revisited sub-$19,000 for the fifth day in the week.
Market angst over the Fed and the global economic outlook delivered a bearish weekend, with the broader crypto market seeing red for the third consecutive session.
Following the NASDAQ 100’s third quarterly loss and worst losing streak since 2008, the NASDAQ Mini 100 weighed on the broader crypto market in the final hour (UTC).
This morning, the NASDAQ 100 Mini was down 30.25 points.
Crypto Market Sees Red for a Third Consecutive Session
On Sunday, the crypto market rose to an early high of $904.3 billion before sliding to a final hour low of $878.7 billion. While recovering from the session low, the crypto market cap fell by $13.9 billion to end the day at $884.6 billion.
Three consecutive days in the red reversed gains from earlier in the week to leave the market cap down $1.19 billion for the week.
BTC (-1.29%) and SOL (-1.18%) also saw red, while BNB (+0.64%) bucked the top ten trend.
From the CoinMarketCap top 100, it was a bearish session.
Maker (MKR), Reserve Rights (RSR), and Pancake Swap (CAKE) led a bearish session. MKR rose by 3.32%, with RSR and CAKE seeing gains of 1.20% and 1.17%, respectively.
However, Chiliz (CHZ) led the broader market into the red, sliding by 9.59%. Huobi Token (HT) and IOTA (MIOTA) also struggled, with losses of 5.64% and 6.24%, respectively.
24-Hour Crypto Liquidations Spike in a Final Hour Sell-Off
Over 24 hours, total liquidations rose on Sunday, with the NASDAQ 100 Mini leading to a spike in liquidations in the final hour (UTC). However, 24-hour liquidations remained below normal levels, with the crypto market moving within a tight range through most of the session.
At the time of writing, 24-hour liquidations stood at $76.05 million, up from $29.26 million on Sunday morning. Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 31,321 versus 14,570 on Sunday morning. Liquidations were up over one hour, four, and twelve hours.
According to Coinglass, 12-hour liquidations stood at $43.47 million, up from $23.11 million on Sunday morning, with four-hour liquidations up from $4.25 million to $32,47 million. One-hour liquidations were up from $1.83 million to $28.73 million.
The chart below shows market conditions throughout the session.
About the Author
Bob Masonauthor
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.
Advertisement