- It was a bearish Saturday for the crypto top ten. XRP and ETH led the way down.
- There were no events to provide market support, leaving the bearish sentiment from Friday to continue into the weekend.
- The crypto market cap declined by $6.4 billion to $876.3 billion.
It was a bearish Saturday session for the crypto top ten. ETH and XRP led the way down after having bucked a bearish trend on Friday. BTC fell short of $20,000 for an eighth consecutive session while revisiting sub-$19,000.
There were no events to change the bearish sentiment from Friday’s session. Rising bets of 75-basis point Fed rate hikes in November and December left the crypto market in the red.
This morning, the probability of a 75-basis point hike in November stood at 97.2% and 69.8% for December. Last week, the chance of a 75-basis point hike in December stood at 23.4%.
With the crypto market continuing to track the NASDAQ 100, we expect the NASDAQ Mini to influence during the final hour (UTC).
Crypto Market Fell for an Eleventh Session in Fourteen
The crypto market rose to an early morning high of $888.1 billion before falling to a final hour (UTC) low of $870.9 billion. While recovering from the session low, the crypto market ended the day down $6.4 billion to $876.3 billion.
The Saturday pullback left the market cap down by $29 billion (-3.1%) for the week.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
It was a bearish Saturday session for the crypto top ten.
From the CoinMarketCap top 100, it was a mixed session.
Quant (QNT) and casper (CSPR) led the way, rallying by 11.34% and 8.90%, respectively, with maker (MKR) rising by 5.85%.
24-Hour Crypto Liquidations Slide on Range-Bound Session
Over 24 hours, total liquidations fell back for a second consecutive session, with the crypto market range-bound throughout the day. At the time of writing, 24-hour liquidations stood at $32.79 million, down from $137.94 billion on Sunday morning.
Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 17,869 versus 46,549 on Saturday morning. Liquidations were down over 12 and four hours while up over one hour.
According to Coinglass, 12-hour liquidations fell from $52.58 million to $21.08 million, with four-hour liquidations down from $17.29 million to $13.83 million. However, one-hour liquidations rose from $8.37 million to $11.20 million.
The chart below shows market conditions throughout the session.