Crypto Market Daily Highlights – ETH Leads a Bullish Top Ten Session

Key Insights:

• It is a bullish Monday session for the crypto top ten, with Ethereum (ETH) leading the way.
• Network news updates shifted investor sentiment away from the Fed, with the crypto market decoupling from the NASDAQ 100.
• The total crypto market cap is up $37 billion to $959 billion, with 90 minutes of the session remaining.

It is a bullish Monday session for the crypto top ten. Bitcoin (BTC) bounced back to $20,000. However, ETH leads the bullish session, with a return to $1,500.

Network news updates delivered the broader crypto market with support. After a NASDAQ 100 Mini forced crypto slide in the final hour of the Sunday session, the crypto market decoupled from the NASDAQ 100 going into the Monday US session.

A 1.02% NASDAQ 100 fall failed to send the crypto market into reverse. There were no US economic indicators or FOMC member chatter to test buyer demand, leaving crypto news updates to draw dip buyers from the sidelines.

Crypto Market Cap Falls to an August Low Before a Return to $960 billion

On Monday, the total crypto market cap fell to a new August low of $917.11 billion before jumping to a high of $967.55 billion. Despite easing back, the crypto market is set to end a Fed Chair Powell-fueled 3-day losing streak.

With 90 minutes remaining of the Monday session, the market cap is up $37 billion to $958.87 billion. The start of the week rally leaves the total crypto market cap down $100 billion for August.

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

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

ETH is up 7.88%, with ADA (+4.43%) and SOL (+5.38%) close behind.

However, BNB (+2.68%), BTC (+3.18%), DOGE (+2.64%), and XRP (+2.81%) trailed the front runners.

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

Synthetix (SNX) leads the way for a second consecutive session, rallying by 17.30%, with Lido DAO (LDO) up 14.01%. Flow (FLOW) was also in recovery mode, gaining 11.85%.

However, Klaytn (KLAY) leads the way down, sliding by 16.3%.

Crypto Liquidations Reflect Market Conditions, with One Hour Numbers Down

Over 24 hours, total liquidations inched higher, with a bearish start to the Monday session bringing new August lows before the rebound.

At the time of writing, 24-hour liquidations stood at $177.00 million, up from $56.57 million on Monday morning.

Liquidated traders also spiked over the last 24 hours. At the time of writing, liquidated traders stood at 60,062 versus 28,463 on Monday morning. While liquidations over 12 hours have risen, four-hour and one-hour liquidations are down.

According to Coinglass, 12-hour liquidations stood at $92.10 million, up from $37.37 million on Monday morning. 4-hour liquidations are down from $11.21 million to $8.59 million, with one-hour liquidations down from $6.50 million to $0.709 million. The chart below shows market conditions throughout the session.