Key Insights:
- It is a mixed Friday for the crypto top ten. XRP and ETH are bucking a bearish trend, with 100 minutes (UTC) of the session remaining.
- US economic indicators sent the NASDAQ 100 and the broader crypto market into reverse.
- The crypto market cap rose is down $7.6 billion to $879.4 billion.
It is a mixed Friday session for the crypto top ten, with 100 minutes (UTC) of the Friday session remaining. ETH and XRP are bucking a bearish top-ten trend with modest gains. BTC is falling short of $20,000 for a seventh consecutive session while avoiding a return to sub-$19,000.
US economic indicators shifted a bullish sentiment from the first half of the session. Resilient retail sales figures, the Michigan Consumer Indexes, and the sub-components delivered a crypto market reversal.
In September, core retail sales increased by 0.1%, with retail sales holding steady despite the sharp rise in interest rates, persistent inflation, and economic uncertainty.
Later in the session, the Michigan Consumer Sentiment Index increased from 58.6 to 59.8, while the Expectations Index slipped from 58.0 to 56.2. Notably, long-run inflation expectations returned to 2.9% after falling below the 2.9% – 3.1% range in September for the first time since July 2021.
In response to the US economic indicators, the NASDAQ 100 tumbled by 3.08%.
Crypto Market Set for a Tenth Loss from Thirteen Sessions
The crypto market jumped to an early morning high of $914.1 billion before an afternoon reversal. In response to the US economic indicators and the NASDAQ 100, the market tumbled to a low of $875.4 billion before steadying.
With 100 minutes (UTC) of the session remaining, the crypto market is down $7.6 billion to $879.4 billion. The Friday pullback leaves the market cap down by $24 billion (-2.7%) for the week.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
It is a mixed Friday session for the crypto top ten, with 100 minutes (UTC) for the session remaining.
ADA leads the way down, sliding by 3.98%, with DOGE (-2.33%) and SOL (-2.29%) also struggling.
BTC (-1.33%) and BNB (-1.21%) have seen modest losses.
From the CoinMarketCap top 100, it is a mixed session.
Huobi Token (HT) leads the top 100, rallying by 7.53%, with UNUS SED LEO (LEO) and bittorrentnew (BTT) seeing gains of 4.97% and 5.19%, respectively.
However, Thursday’s front runners lead the way down.
TerraclassicUSD (USTC) and synthetix (SNX) are down by 4.39% and 5.53%, respectively, with Helium (HNT) sliding by 6.19%.
24-Hour Crypto Liquidations Slide Despite Bearish Friday Session
Over 24 hours, total liquidations fell back, with a bullish first half of the day offsetting liquidations from the bearish afternoon session. At the time of writing, 24-hour liquidations stood at $137.94 billion, down from $307.46 million on Friday morning.
Liquidated traders over the last 24 hours tumbled. At the time of writing, liquidated traders stood at 46,549 versus 133,664 on Friday morning. Liquidations were down over 12 hours while up over one and four hours.
According to Coinglass, 12-hour liquidations are down from $132.24 million to $52.58 million. However, four-hour liquidations are up from $4.87 million to $17.29 million, with one-hour liquidations rising from $0.709 million to $8.37 million.
The chart below shows market conditions throughout the session.
