Crypto Market Daily Highlights – BTC Winning Streak Ends
Key Insights:
On Sunday, the crypto top ten saw a four-day winning streak end, with Solana (SOL) falling by 2.44% to lead the way down.
Uncertainty over Fed monetary policy and a lack of direction from the crypto news wires left investors on a more cautious footing ahead of the Monday open.
The total crypto market cap ended the week up by $26 billion.
It was a bearish Sunday session for the crypto top ten. Bitcoin (BTC) saw a four-day winning streak end, with ETH failing to revisit $1,400 in a range-bound session.
There were no external forces to shift investor sentiment on Sunday, with no crypto news stories to provide the markets with direction. A bullish four sessions continued into Sunday before profit-taking hit the market ahead of the Monday open.
The pullback reflected investor uncertainty over Fed monetary policy, with investors likely to eye the NASDAQ 100 for direction.
At the time of writing, the NASDAQ 100 Mini was up 44.5 points to deliver early support.
The Total Crypto Market Cap Sees Red
A bullish start to the Sunday session saw the total crypto market cap rise to a high of $961 billion before hitting reverse.
The total market cap fell to a low of $925 billion before ending the day at $931 billion. Investors pulled out a modest $14.8 billion on Sunday to leave the market cap up $26 billion for the week.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
SOL fell by 2.44% to lead the way down, with ADA (-2.18%), DOGE (-2.02%), and XRP (-2.11%) also struggling.
BNB (-0.80%), BTC (-1.92%), and ETH (-1.29%) saw relatively modest losses.
From the CoinMarketCap top 100, Lido DAO (LDO) led the way again, rallying by 19.91%, with Ethereum Classic (ETC) and Theta Fuel (TFUEL) up by 11.24% and 19.21%, respectively.
However, Curve DAO Token (CRV), Zcash (ZEC), and Uniswap (UNI) led the way down.
CRV fell by 8.04%, with ZEC and UNI ending the day with losses of 6.14% and 5.87%, respectively.
Total Crypto Liquidations Slide to Reflect Improving Market Conditions
On Monday, 24-hour liquidations took a tumble, reflecting improving market conditions at the turn of the day. On Sunday, we saw 24-hour liquidations spike to suggest a possible crypto pullback, which materialized after a bullish start.
This morning, 24-hour liquidations stood at $116.95 million, down from $372.3 on Sunday.
Liquidated traders declined over the last 24 hours, suggesting improving market conditions. At the time of writing, liquidated traders stood at 40,592 versus 63,031 on Sunday morning.
According to Coinglass, one-hour liquidations stood at $5.22 million, down from $31.6 million on Sunday.
Daily News Highlights
RBA Governor Lowe talked of the benefits of privately issued but regulated digital currencies.
Chatter over a possible Coinbase liquidity crisis continued to do the rounds.
This article was originally posted on FX Empire