Crypto Market Daily Highlights – DOGE Led a Bearish Top Ten South

Key Insights:

• It was a bearish end to the week for the crypto top ten. DOGE led the way down.
• Investor jitters ahead of tomorrow’s US CPI report and the NASDAQ mini weighed.
• The crypto market cap fell by $5.06 billion to $805.68 billion.

It was a bearish Saturday session for the crypto top ten. DOGE led the way down, with ADA and MATIC also struggling. Despite a bearish session, BTC avoided sub-$17,000 for the third consecutive day.

There were no economic indicators for investors to consider ahead of tomorrow’s US CPI report and Wednesday’s FOMC interest rate decision.

With no stats or FOMC member chatter to consider, investor uncertainty about Wednesday’s interest rate move left the crypto market on the defensive. Reports of unusual activity on the Binance exchange added to the bearish mood. Binance CEO CZ stated that Binance temporarily locked withdrawals on some of the profiting accounts, causing alarm among investors.

However, Binance investigated and announced that the activity appeared to be market behavior and not the action of hackers. Despite the announcement, investors remained skeptical.

Market conditions failed to improve this morning, with the NASDAQ mini kicking off the week in a bearish fashion. This morning, the NASDAQ mini was down 20.25 points. Today, there are no US economic indicators for investors to consider, leaving the crypto market in a testy mood ahead of tomorrow’s US CPI Report.

Crypto Market Sees Red on Binance Reports and Fed Fear

On Sunday, the crypto market cap rose to an early evening high of $817.70 billion. However, a bearish end to the session saw the crypto market cap slide to a low of $803.20 billion before steadying.

A partial recovery to end the day at $805.68 billion left the market cap down $5.06 billion for the day and $8.89 billion for the week.

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

It was a bearish Sunday session for the crypto top ten.

DOGE led the way, sliding by 3.63%, with ADA (-1.92%), BNB (-1.28%), MATIC (-1.74%), and XRP (-1.35%) struggling.

However, BTC (-0.13%) and ETH (-0.28%) saw modest losses on the day.

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

Toncoin (TON) led the way, rallying by 10.55%, with apecoin (APE) and trust wallet token (TWT) seeing gains of 5.88% and 4.38%, respectively.

However, osmosis (OSMO) led the way down, sliding by 10.23%. Cosmos (ATOM) and internet computer (ICP) were among the worst performers, falling by 4.14% and 4.31%, respectively.

24-Hour Liquidations Inch Higher but Remain at Sub-Normal Levels

Over 24 hours, crypto liquidations saw a modest increase, with trading volumes remaining at lower levels ahead of this week’s US CPI report and Fed interest rate decision.

At the time of writing, 24-hour liquidations stood at $27.79 million versus $7.50 million on Sunday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 12,777 versus 4,475 on Sunday morning. Crypto liquidations were up over 12 and four hours and one hour.

According to Coinglass, 12-hour liquidations rose from $5.43 million to $25.17 million, with four-hour liquidations up from $1.56 million to $17.36 million. One-hour liquidations increased from $0.870 million to $1.48 million.

The chart below shows market conditions throughout the session.