Crypto Market Daily Highlights – SOL Leads the Top Ten into the Red

Key Insights:

• It was a bearish end to a bullish month for the crypto top ten, with Solana (SOL) leading the way down.
• For the second session in a row, there were no cues to give the crypto market direction, leaving investors to lock in profits from the month.
• A bearish session saw the total crypto market cap fall for a second consecutive session, with $12.6 billion coming off the table.

It is a bearish Sunday session for the crypto top ten. Bitcoin (BTC) failed to hold onto the $24,000 handle for a third consecutive day. Solana (SOL) led the way down after finding strong support on Saturday, with Dogecoin (DOGE) and Ripple (XRP) also struggling.

There were no cues for the crypto market, leaving investors to consider the prospects of a US recession and how it could impact the market.

This week, US economic indicators will continue to provide direction to the NASDAQ 100 and the crypto market. US stats include private sector PMIs for July and the all-important non-farm payrolls.

For the crypto market, the big question will be whether recessionary fears can break the link with the NASDAQ 100. At the time of writing, the NASDAQ 100 Mini was down 61.5 points, while the total crypto market cap was up $2.40 billion

The Total Crypto Market Cap Ends Three-Month Losing Streak

On Sunday, the crypto market rose to a late high of $1,012 billion before falling to a low of $1,053 billion.

However, finding late support, the market cap ended the day at $1,060 billion, down $12.6 billion for the session.

There were no cues for the crypto market during the session, leaving investors to lock in gains from the month.

Despite the bearish end of the month, the crypto market ended a three-month losing streak. For July, the total market cap increased by $194 billion.

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

It was a bearish end to the month for the crypto top ten.

SOL slid by 3.41% to lead the way down, with DOGE and XRP (-1.98%) ending the day with losses of 1.71% and 2.21%, respectively.

ADA (-1.71%), BNB (-1.42%), BTC (-1.43%), and ETH (-1.10%) also saw red.

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

Bitcoin Standard Hashrate Token (BTCST) and Filecoin (FIL) led the way, surging by 30% and 22%, respectively. Internet Computer (ICP) was a distant third, rising by 8.2%.

At the other end of the table, Ravencoin (RVN), Lido DAO (LDO), and Bitcoin Gold (BTG) saw the heaviest losses. RVN slid by 11.4%, with LDO and BTG declining by 7.6% and 7.0%, respectively.

Total Crypto Liquidations Highlight Bearish Final Hours of July

On Monday, 24-hour liquidations eased back further despite the bearish end to Jul.

At the time of writing, 24-hour liquidations stood at $133 million, down from $168 million on Sunday morning.

Liquidated traders fell marginally over the last 24 hours. At the time of writing, liquidated traders stood at 62,484 versus 68,567 on Sunday morning.

However, the one and four-hour liquidation figures reflected the bearish end to the Sunday session.

According to Coinglass, four-hour liquidations stood at $35.37 million, up from $34.29 million on Sunday. One-hour liquidations were at $4.81 million, up from $3.80 million (see hourly crypto market cap chart below).