The Thanksgiving holidays left crypto trading volumes down and investors to track the NASDAQ Index through the shortened US session.
It is a mixed Friday session for the crypto top ten. DOGE leads the way, with XRP also finding support. However, BTC joined the broader market in the red while avoiding sub-$16,000 for the third consecutive session.
With the US Thanksgiving holiday, it was a quiet Friday session, with trading volumes down through the afternoon session.
While FTX contagion eased this week, investors need to wait for updates from FTX debtors. News of new asset discoveries would further reduce FTX contagion risk. However, contagion risk will remain over the near term, which will likely continue to peg the market back from a full recovery.
Investors await the identities of FTX’s creditors, which the Court agreed to redact this week.
Today, the crypto news wires will remain the investor focal point.
It is a bearish Friday session. The crypto market slid to a mid-morning low of $776.6 billion before rebounding to a high of $798.5 billion.
However, easing back through the afternoon session, the crypto market is down $2.8 billion to $789.1 billion, with 45 minutes remaining. The market is down $182 billion for November.
It is a mixed Friday session for the crypto top ten.
DOGE leads the way, rallying by 9.83%, with XRP up by 1.85%.
However, the rest of the top ten are in the red, with 45 minutes (UTC) of the session remaining.
ADA (-0.32%), BTC (-0.43%), ETH (-0.28%), and MATIC (-0.81%) are heading for daily losses. BNB is currently flat for the session.
From the CoinMarketCap top 100, it is a mixed session.
Huobi token (HT) leads the way, gaining 17.6%, with DOGE and casper (CSPR) up by 9.83% and 3.7%, respectively.
However, binaryX (BNX) leads the way down, falling by 8.31%, with UNUS SED LEO (LEO) and kava (KAVA) down by 8.49% and 5.69%, respectively.
Over 24 hours, total liquidations held steady on Friday amid lower trading volumes. At the time of writing, 24-hour liquidations stood at $45.76 million versus $43.88 million on Friday morning.
Liquidated traders over the last 24 hours also held steady. At the time of writing, liquidated traders stood at 15,477 versus 15,589 on Friday morning. However, liquidations were up over 12 and four hours and over one hour.
According to Coinglass, 12-hour liquidations rose from $15.10 million to $16.36 million, with four-hour liquidations up from $1.33 million to $5.14 million. One-hour liquidations were up from $2.27 million.
The chart below shows market conditions throughout the session.
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.