Crypto Market Daily Highlights – XRP Led the Top Ten on NASDAQ Support

Key Insights:

  • It was a mixed Tuesday session for the crypto top ten, with BNB seeing red to buck the top ten trend while XRP led the way.
  • Contagion fear continued to ease on Tuesday, despite reports of another exchange freezing withdrawals in the wake of the FTX collapse.
  • The crypto market cap rose by $9.7 billion to end the day at 802.8 billion.

It was a mixed Tuesday session for the crypto top ten. XRP led the way, while BNB bucked the trend, falling by a modest 0.68%. BTC rose for the third session in ten. Notably, BTC ended the day at sub-$17,000 for the fifth time since 2020.

Investor sentiment toward the collapse of FTX pegged the broader crypto market from a breakout session. Following news of BlockFi freezing withdrawals, crypto exchange Liquid announced the freezing of withdrawals.

On Tuesday, Liquid made a statement on Twitter, saying,

“Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11 proceedings in the United States. Until further notice, we would suggest to not deposit either FIAT or crypto. We will provide updates when available.”

However, the news of the latest platform to freeze withdrawals had a muted impact on the crypto market. Hopes of the Binance recovery fund supporting projects impacted by the FTX collapse muted the impact of the news.

Looking beyond the crypto market, the NASDAQ Composite Index gained 1.45% on Tuesday, delivering crypto support. US wholesale inflation provided support to riskier assets.

The US annual inflation rate softened from 8.4% to 8.0% in October. Economists forecast a rate of 8.3%.

Tuesday’s figures further fueled bets of a December Fed pivot. This morning the probability of a 75-basis point December Fed rate hike stood at 14.6%, according to the FedWatch Tool.

NASDAQ Correlation
Total Market Cap – NASDAQ – 161122 5 Minute Chart

Crypto Market Finds Support on Softer US Wholesale Inflation

It was a bullish Tuesday session. The crypto market fell to an early low of $786.3 billion before rising to an early afternoon high of $819.4 billion. However, an afternoon pullback saw the market cap fall back to sub-$800 billion before finding late support.

On Tuesday, the market cap increased by $9.7 billion to $802.8 billion. However, the market was down $173 billion in November.

Crypto market enjoys a bullish Tuesday.
Total Market Cap 161122 Daily Chart

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

It was a mixed Tuesday session for the crypto top ten.

XRP led the way, rising by 3.07%, with MATIC ending the day up by 2.62%.

ADA (+1.51%), BTC (+1.56%), DOGE (+1.52%), and ETH (+0.82%) also found support, while BNB (-0.68%) bucked the trend.

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

Chiliz (CHZ) led the way, rallying by 10.59%, with quant (QNT) and stacks (STX) seeing gains of 9.58% and 9.28%, respectively.

However, trust wallet token (TWT) slid by 13.75% to lead the way down, with helium (HNT) and chain (QNT) seeing losses of 5.03% and 2.87%, respectively.

24-Hour Liquidations Tumbled on Second Bullish Crypto Session

Over 24 hours, total liquidations slid back to below-usual levels as contagion fear abated. At the time of writing, 24-hour liquidations stood at $69.38 million, down from $167.33 million on Tuesday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 27,924 versus 66,235 on Tuesday morning. Liquidations were down over 12 and four hours and over one hour.

Crypto liquidations slide.
Total Crypto Liquidations 161122

According to Coinglass, 12-hour liquidations fell from $63.02 million to $41.79 million, with four-hour liquidations down from $13.20 million to $2.78 million. One-hour liquidations decreased from $4.13 million to $0.444 million, reflecting steady market conditions.

The chart below shows market conditions throughout the session.

Crypto market steady late in the session.
Total Market Cap 161122 Hourly Chart

Crypto Market Daily Highlights – FTX.US Bankruptcy Sends Market South

Key Insights:

  • It was a bearish Friday session for the crypto top ten, with dogecoin (DOGE) leading the top ten into the red.
  • News of FTX.US filing for bankruptcy and the first signs of contagion weighed on buyer appetite.
  • The crypto market cap fell by $22.4 billion to end the day at $819.2 billion.

It was a bearish Friday session for the crypto top ten. DOGE and MATIC led the way down. BTC saw red for the fifth day in six sessions while wrapping up the day at $17,000.

FTX updates weighed on crypto investor appetite, with news of FTX.US filing for bankruptcy sending the broader crypto market deep into the red. FTX CEO Sam Bankman-Fried stepped down as CEO on filing for bankruptcy.

Adding to the downside was contagion risk, with BlockFi the first to announce the suspension of withdrawals. In response, the Department of Financial Protection and Innovation (DFPI) of the State of California issued a Notice of Intent (NOI) to suspend BlockFi’s California Financing Law license for 30-days pending investigation.

For investors looking for words of comfort, there were few. Binance CEO CZ reportedly said,

“With FTX going down, we will see cascading effects. Especially for those close to the FTX ecosystem, they will be negatively affected.”

In the wake of the FTX collapse, Voyager (VGX) reopened the bidding process for the company. According to the company announcement,

“Voyager has reopened the bidding process for the company and is in active discussions with alternative bidders. Voyager and the UCC are moving with all due care and deliberate speed to identify an alternative plan of reorganization consistent with the core objective throughout this process: maximizing the value returned to customers and other creditors.”

The statement added,

“It is important to note that Voyager did not transfer any assets to FTX.US in connection with the previously proposed transaction.”

News of Justin Sun ready to provide billions to FTX to plug the $9.4 billion hole provided little market comfort.

The crypto market mood was in stark contrast to another bullish day for the NASDAQ Composite Index. Following the inflation-fueled rally on Thursday, the NASDAQ rose by 1.88% on Friday.

Investor sentiment towards a Fed pivot continued to drive the NASDAQ higher at the end of the week. Adding to the upside was news of China planning to ease COVID-19 restrictions.

Today, there are no distractions from the US economic calendar. The markets will remain focused on FTX, bailout news, contagion, and US government and regulator chatter.

NASDAQ correlation.
Total Market Cap – NASDAQ – 121122 Daily Chart

Crypto Market Hits Reverse on FTX.US Bankruptcy News and Contagion

It was a bearish Friday session. The crypto market rose to an early high of $848.2 billion before sliding to a low of $785.7 billion. However, finding late support, the crypto market revisited $817 billion before easing back.

The bearish session left the market down $22.4 billion to $819.2 billion for the session. For the week, the market is down $163 billion.

Crypto market cap.
Total Market Cap 121122 Daily Chart

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

It was a bearish Friday session for the crypto top ten.

DOGE led the way down, sliding by 14.34%, with MATIC (-5.35%) also struggling.

However, there were no winners, with ADA (-3.80%), BNB (-4.68%), BTC (-3.06%), ETH (-0.78%), and XRP (-2.77%) seeing red.

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

Chain (XCN) led the way, rallying by 10.86%, with uniswap (UNI) and chiliz (CHZ) rising by 5.61% and 4.97%, respectively, to buck the broader market trend.

However, FTX token (FTT) led the way down, sliding by 25.80%. Nexo (NEXO) and helium (HT) were among the worst performers, falling by 16.66% and 4.50%, respectively.

24-Hour Crypto Liquidations Ease Back in Bearish Crypto Session

Over 24 hours, total liquidations eased further back despite a bearish session and news of the FTX.US bankruptcy filing. At the time of writing, 24-hour liquidations stood at $170.06 million, down from $365.35 million on Friday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 102,459 versus 187,194 on Friday morning. Liquidations were down over 12 and four hours while up over one hour.

Crypto liquidations fall back.
Total Crypto Liquidations 121122

According to Coinglass, 12-hour liquidations fell from $162.66 million to $113.78 million, with four-hour liquidations down from $26.07 million to $14.17 million. One-hour liquidations increased from $4.38 million to $6.75 million, reflecting choppy market conditions.

The chart below shows market conditions throughout the session.

Crypto market steadies late in the session.
Total Market Cap 121122 Hourly Chart

Crypto Market Daily Highlights – XRP and ETH Buck the Top Ten Trend

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%.

NASDAQ correlation.
Total Market Cap – NASDAQ – 151022 5 Minute Chart

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.

Crypto market falls again.
Total Market Cap 151022 Daily Chart

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.

XRP leads the way, rising by 0.93%, with ETH (+0.29%) also bucking the top ten trend.

However, it is a bearish session for the rest of the majors.

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.

Crypto liquidations fall over 24-hours.
Total Crypto Liquidations 151022

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.

Crypto market cap H2 reversal.
Total Market Cap 151022 Hourly Chart

 

Crypto Market Daily Highlights – XRP Five Day Winning Streak Ends

Key Insights:

  • It was a bearish day for the crypto top ten on Saturday, with ripple (XRP) seeing a five-day winning streak end.
  • Friday’s US jobs report continued to resonate, with the threat of a more hawkish Fed weighing on risk appetite.
  • The bearish session led the crypto market cap down $6.3 billion to $901.3 billion for the day.

It was a bearish Saturday session for the crypto top ten. XRP saw a five-day winning streak end, with BTC falling short of $20,000 for the first time in five sessions.

Friday’s US jobs report continued weighing investor appetite. A fall in the US unemployment rate to 3.5% allows the Fed to take a more aggressive path to bring inflation to target.

With a 75-basis point Fed rate hike for November baked in, the markets are looking toward the December move. The FedWatch tool gives a 63.1% probability of the Federal Funds Rate ending the year at 4.5% and a 23.4% chance of ending the year at 4.75%. One week ago, the probability of the Federal Funds Rate rising to 4.75% in December was 0%.

Following the NASDAQ 100’s 3.80% tumble on Friday, we expect the NASDAQ 100 Mini to influence the crypto market in the final hour (UTC) of today’s session. A lack of crypto news leaves the broader crypto market in the hands of the Fed, reflected in the continued crypto correlation with the NASDAQ.

NASDAQ correlation.
Total Market Cap – NASDAQ – 091022 Daily Chart

Crypto Market Falls for a Fourth Consecutive Session

On Saturday, the crypto market rose to an early morning high of $903.3 billion before sliding to a late low of $898.3 billion. However, a late partial recovery left the crypto market down $6.6 billion to $901.3 billion for the day.

The fourth consecutive daily loss left the crypto market cap up by $17 billion (+1.92%), Monday to Saturday.

Crypto market extends losing streak.
Total Market Cap 091022 Daily Chart

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

It was a bearish Saturday session for the crypto top ten.

BNB led the way down, falling by -2.09%, with DOGE (-1.17%), ETH (-1.16%), and SOL (-1.18%) close behind.

However, ADA (-0.47%), BTC (-0.59%), and XRP (-0.18%) saw modest losses.

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

Quant (QNT) led the way, rallying by 7.24%, with bitcoin SV (BSV) and stellar’s lumen (XLM) seeing gains of 2.61% and 3.13%, respectively.

However, reserve rights (RSR) led the way down, sliding by 10.55%, with helium (HNT) and ecash (XEC) seeing losses of 5.08% and 9.05%, respectively.

24-Hour Crypto Liquidations Slide Despite Bearish Crypto Session

Over 24 hours, total liquidations hit reverse, despite the bearish Saturday and bearish start to the Sunday session. At the time of writing, 24-hour liquidations stood at $32.09 million, down from $82.53 million on Saturday morning.

Liquidated traders over the last 24 hours also fell. At the time of writing, liquidated traders stood at 12,467 versus 23,689 on Saturday morning. Liquidations were down over one, four, and 12 hours.

Crypto market liquidations decline.
Total Crypto Liquidations 091022

According to Coinglass, 12-hour liquidations were down from $72.50 million to $27.06 million, with four-hour liquidations down from $3.70 million to $2.69 million. One-hour liquidations fell from $0.482 million to $0.202 million, which remains well below normal levels.

The chart below shows market conditions throughout the session.

Crypto market finds late Saturday support.
Total Market Cap 091022 Hourly Chart

Crypto Market Daily Highlights – XRP Brushes Aside the US Jobs Report

Key Insights:

  • It was another mixed day for the crypto top ten on Friday, with ripple (XRP) extending its winning streak to five in another trend-bucking session.
  • US jobs report sent the NASDAQ 100 and the crypto market deep into negative territory.
  • The mixed session saw the crypto market cap fall by $10.9 billion to $907.9 billion.

It was a mixed Friday session for the crypto top ten. XRP saw green to buck the top ten trend for a third consecutive session. However, BTC led the way down, ending the day at sub-$20,000 for the second time in four sessions.

US economic indicators sent riskier assets into the deep red. In September, nonfarm payrolls increased by 288k, following a 275k rise in August. The NFP increase and a fall in the participation rate left the unemployment rate at 3.5%, down from 3.7% in August.

Crypto market slides on job report
Total Market Cap 081022 30 Minute Chart

The numbers cemented a 75-basis point Fed rate hike in November. According to the FedWatch Tool, the probability of a 75-basis point Fed rate hike sits at 79.6% versus 20.4% for a 50-basis point hike. The chance of a 75-basis point hike stood at 56.5% on September 30.

The NASDAQ 100 tumbled by 3.80% on Friday, with the crypto market tracking the NASDAQ throughout the US session.

NASDAQ correlation.
Total Market Cap – NASDAQ – 081022 5 Minute Chart

Crypto Market Sees Red on Hawkish Fed Chatter

On Friday, the crypto market rose to an early morning high of $927.2 billion before sliding to a late low of $896.5 billion. However, finding late support, the crypto market ended the day at $907.9 billion, a $10.9 billion loss for the session.

The third consecutive daily loss left the crypto market cap up by $22 billion (+2.5%), Monday to Friday.

Crypto market falls for a third consecutive session.
Total Market Cap 081022 Daily Chart

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

It was a mixed Friday session for the crypto top ten.

XRP bucked the trend for a third consecutive session, rallying by 5.13%.

However, BTC led the way down, sliding by 2.14%, with BNB (-1.60%), DOGE (-1.69%), and ETH (-1.56%) also struggling.

ADA (-1.17%) and SOL (-1.11%) saw modest losses.

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

1inch network (1INCH) rallied by 6.94% to lead the way, with Huobi Token (HT) and eCash (XEC) seeing gains of 4.40% and 4.73%, respectively.

However, Reserve Rights (RSR) and Helium (HNT) led the way down, sliding by 6.79% and 5.10%, respectively, with EOS (EOS) falling by 2.94%.

24-Hour Crypto Liquidations Inched Higher After Fed Green Light

Over 24 hours, total liquidations climbed as the crypto market responded to the US labor market numbers that gave the Fed a green light to hike rates by another 75 basis points. At the time of writing, 24-hour liquidations stood at $82.53 million, up from $48.84 million on Friday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 23,689 versus 20,518 on Friday morning. Liquidations were up over one hour and 12 hours increased while down over four hours.

Crypto liquidations rise.
Total Crypto Liquidations 081022

According to Coinglass, 12-hour liquidations were up from $27.24 million to $72.50 million, with one-hour liquidations up from $0.347 million to $0.482 million. However, four-hour liquidations were down from $7.89 million to $3.70 million.

The chart below shows market conditions throughout the session.

Jobs report sinks the crypto market
Total Market Cap 081022 Hourly Chart

Crypto Market Daily Highlights – XRP Bucked the Top Ten Trend Again

Key Insights:

  • It was another mixed day for the crypto top ten on Thursday, with ripple (XRP) extending its winning streak to four sessions.
  • Hawkish Fed chatter weighed on the NASDAQ 100 and the crypto market, while sentiment towards the SEC v Ripple case delivered XRP price support.
  • The mixed session saw the crypto market cap fall by $6.9 billion to $918.8 billion.

It was a mixed Thursday session for the crypto top ten. XRP saw green to buck the top ten trend. However, BNB led the way down, with BTC ending the day at sub-$20,000 for the first time in three sessions.

US economic indicators took a back seat, with Fed chatter weighing on market risk sentiment ahead of today’s nonfarm payrolls.

FOMC member Charles Evans delivered the blow, talking of 125 basis points of rate hikes before the end of the year. However, the losses were modest, with mixed sentiment towards a Fed-fueled recession limiting the damage. The jury is out on whether there will be a soft or hard landing and how far the Fed will push once indicators begin to flash red.

The crypto market continued to track the NASDAQ 100 through the Thursday session, with the NASDAQ 100 falling by 0.68%. This morning, the NASDAQ 100 Mini was down 32 points.

Softer US jobless claims figures had a muted impact on the markets. In the week ending September 30, initial jobless claims increased from 190k to 219k. However, US nonfarm payrolls will have a material impact on the markets later today.

NASDAQ correlation.
Total Market Cap – NASDAQ – 071022 5 Minute Chart

Crypto Market Sees Red on Hawkish Fed Chatter

On Thursday, the crypto market rose to an early morning high of $940.6 billion before sliding to a late low of $912.4 billion. Fed fear continued to weigh on investor appetite, with tight labor market conditions allowing the Fed to continue its aggressive course to bring inflation to target.

However, a final-hour partial recovery left the market cap down $6.9 billion to $918.8 billion for the session.

Crypto market sees red.
Total Market Cap 071022 Daily Chart

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

It was a mixed Thursday session for the crypto top ten.

XRP bucked the trend, rising by 0.84%.

However, BNB slid by 2.48% to lead the way down, with DOGE (-2.08%) and SOL (-2.07%) also struggling.

ADA (-0.46%), BTC (-0.97%), and ETH (-0.02%) saw modest losses.

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

Casper (CSPR) led the way, surging by 12.54%, with XDC network (XDC) and ravencoin (RVN) seeing gains of 5.25% and 4.77%, respectively.

However, Helium (HNT) slid by 9.80% to lead the way down, with chainlink (LINK) and Synthetix (SNX) seeing losses of 3.00% and 3.22%, respectively.

24-Hour Crypto Liquidations Fall Despite Bearish Session

Over 24 hours, total liquidations declined, with the crypto market loss modest on Thursday. At the time of writing, 24-hour liquidations stood at $48.84 million, down from $62.65 million on Thursday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 20,518 versus 24,837 on Thursday morning. Liquidations were up over four hours while down over twelve hours and the last hour.

Crypto liquidations fall.
Total Crypto Liquidations 071022

According to Coinglass, four-hour liquidations stood at $7.89 million, up from $3.83 million on Thursday morning. However, 12-hour liquidations were down from $43.04 million to $27.24 million, with one-hour liquidations down from $0.414 million to $0.347 million.

The chart below shows market conditions throughout the session.

Final hour support leads one hour liquidations downwards.
Total Market Cap 071022 Hourly Chart

Crypto Market Daily Highlights – XRP Bucked a Bearish Top Ten Session

Key Insights:

  • It was a mixed Wednesday for the crypto top ten, with ripple (XRP) extending its winning streak to three sessions.
  • US economic indicators hit appetite for riskier assets, with ADP nonfarm employment change and ISM Non-Manufacturing PMI numbers raising bets of a hawkish Fed move.
  • The mixed session left the crypto market cap down $5.5 billion to $925.7 billion.

It was a mixed Wednesday session for the crypto top ten. XRP saw green to buck the top ten trend. However, DOGE led the way down, as investors locked in Twitter driven profits from Tuesday. Despite a bearish session, BTC held onto the $20,000 handle for a second consecutive day.

US economic indicators raised bets of another 75-basis point Fed rate hike in November.

According to the ADP, nonfarm employment increased by 208k in September, up from 185k in August. In September, the ISM Non-Manufacturing PMI slipped from 56.9 to 56.7. Notably, the ISM Non-Manufacturing Employment sub-index increased from 50.2 to 53.0, with new orders rising at a solid clip.

The employment numbers reversed views that labor market conditions were loosening, supporting a more hawkish Fed. FOMC member Mary Daly delivered a hawkish message on Wednesday by reemphasizing the Fed’s commitment to bringing inflation to target.

On Wednesday, the NASDAQ 100 fell by 0.25% to end a mini two-day winning streak. This morning, the NASDAQ 100 Mini was up 67.5 points.

Later today, US jobless claims and Fed chatter will influence as the markets prepare for the nonfarm payroll numbers on Friday.

NASDAQ correlation
Total Market Cap – NASDAQ – 061022 5 Minute Chart

Crypto Market Enjoys a Bullish Session Supported by Weak US Stats

On Wednesday, the crypto market fell to an early afternoon low of $905.9 billion before rising to an early evening high of $936.51 billion. However, a bearish send to the day left the crypto market cap down by $5.5 billion to $925.7 billion.

Crypto market sees red.
Total Market Cap 061022 Daily Chart

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

It was a mixed Wednesday session for the crypto top ten.

XRP bucked the trend, rising by 1.78%.

However, DOGE and ADA saw losses of 1.64% and 1.15%, respectively, to lead the way down. BNB (-0.71%), BTC (-0.92%), ETH (-0.70%), and SOL (-0.18%) also saw red.

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

Helium (HNT) and ethereum name service (ENS) led the way, with gains of 8.68% and 8.58%, respectively. Trust wallet token (TWT) rose by 7.70%.

However, XDC network (XDC) led the way down, with a 4.49% loss. Lido DAO (LDO) and ravencoin (RVN) ended the day down by 3.28% and 3.15%, respectively.

24-Hour Crypto Liquidations Slip Despite a Choppy Wednesday

Over 24 hours, total liquidations declined, with BTC holding onto $20,000 easing liquidations. At the time of writing, 24-hour liquidations stood at $62.65 million, down from $70.43 million on Wednesday morning.

Liquidated traders over the last 24 hours inched higher. At the time of writing, liquidated traders stood at 24,837 versus 24,358 on Wednesday morning. Liquidations were up over twelve hours while down over four hours and the last hour.

Liquidations fall over 24-hours.
Total Crypto Liquidations 061022

According to Coinglass, 12-hour liquidations stood at $43.04 million, up from $35.28 million on Wednesday morning. Four-hour liquidations fell from $11.41 million to $3.83 million, with one-hour liquidations down from $0.568 million to $0.414 million.

The chart below shows market conditions throughout the session.

Hourly chart reflects choppy session.
Total Market Cap 061022 Hourly Chart

Crypto Market Daily Highlights – DOGE Leads a Top 100 Breakout

Key Insights:

  • It was a bullish Tuesday for the crypto top ten, with dogecoin (DOGE) leading the way.
  • Easing market bets of a 75-basis point Fed rate hike continued to drive demand for riskier assets.
  • The bullish session led the crypto market cap up $25.2 billion to $931.1 billion.

It was a bullish Tuesday session for the crypto top ten. Dogecoin (DOGE) led the way. Notably, BTC ended the day at $20,000 for the first time since September 17.

US economic indicators and soothing Fed chatter delivered riskier assets another bullish session. JOLTs job openings slid from 11.170 million to 10.053 million in August. Economists forecast a fall to 10.775 million.

FOMC member Mary Daly also delivered some comfort, saying that the Fed has the ways and the means to bring inflation under control in the gentlest way possible.

On Tuesday, the NASDAQ 100 rallied by 3.34%, with softer US economic indicators giving the Fed the option to take the foot off the gas. This morning, the NASDAQ 100 Mini was down 23.5 points.

Later today, US ADP nonfarm employment and ISM Non-Manufacturing PMI numbers will be the key stats of the day. Soft numbers could deliver further support, though we could see investor jitters over a global economic recession resurface.

NASDAQ correlation.
Total Market Cap – NASDAQ – 051022 5 Minute Chart

Crypto Market Enjoys a Bullish Session Supported by Weak US Stats

On Tuesday, the crypto market slipped to an early low of $900.8 billion before surging to a late high of $938.0 billion. While easing back from the high, the market cap rose by $25.2 billion to end the day at $931.1 billion.

Easing bets of a hawkish Fed rate hike in November pushed the market cap back towards the $1 trillion mark.

Crypto market inches back towards $1 trillion.
Total Market Cap 051022 Daily Chart

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

It was a bullish Tuesday session for the crypto top ten.

DOGE led the way, surging by 9.16%. BNB (+3.20%), BTC (+3.63%), ETH (+2.93%), SOL (+3.67%), and XRP (+3/77%) also enjoyed breakout sessions.

ADA (+1.87%) trailed the front runners, however.

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

Convex Finance (CVX) and DOGE led the way, with gains of 8.28% and 9.16%, respectively. Helium (HNT) was also a front runner, rallying by 6.24%.

However, Reserve Rights (RSR), Terra Classic (LUNC), and Chiliz (CHZ) were among several to buck the broader market trend. RSR slid by 5.96%, with LUNC and CHZ seeing losses of 3.17% and 1.05%, respectively.

24-Hour Crypto Liquidations Inch Higher on BTC Return to $20,000

Over 24 hours, total liquidations increase on Tuesday, with a BTC return to $20,000 likely catching the bears off guard. At the time of writing, 24-hour liquidations stood at $70.43 million, up from $45.45 million on Tuesday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 24,358 versus 20,263 on Tuesday morning. Liquidations were up over four and twelve hours while down over the last hour.

Crypto liquidations rise on BTC return to $20,000.
Total Crypto Liquidations 051022

According to Coinglass, 12-hour liquidations stood at $35.28 million, up from $29.66 million on Tuesday morning, with four-hour liquidations up from $5.00 million to $11.41 million. However, one-hour liquidations were down from $1.64 million to $0.568 million, reflecting a bullish end to the session.

The chart below shows market conditions throughout the session.

Crypto market sees bullish end to the session.
Total Market Cap 051022 Hourly Chart

Crypto Market Daily Highlights – Solana (SOL) Led the Top Ten South

Key Insights:

  • It was a bearish Saturday for the crypto top ten, with solana (SOL) leading the way down.
  • There were no external market forces to influence, leaving Friday’s US inflation figures and the NASDAQ’s worst losing streak since 2008 to resonate.
  • The bearish session left the crypto market cap down $7.1 billion to $898.5 billion.

It was a bearish Saturday session for the crypto top ten. DOGE and SOL led the way down. However, despite the bearish session, BTC avoided sub-$19,000 for just the second time in twelve sessions.

On Friday, US economic indicators supported the Fed’s aggressive policy goals to curb inflation and return inflation to target. The Core PCE Price Index increased by 4.9% in August, up from 4.7% in July.

Hawkish Fed chatter and the Friday numbers from the US remained crypto market negatives on Saturday. The influence from the US also supported the ongoing crypto correlation with the NASDAQ 100.

The NASDAQ 100 fell by 1.51% to end the Q3 with a 4.11% loss. More importantly, the NASDAQ 100 extended its quarterly losing streak to three, its worst run since 2008.

NASDAQ correlation
Total Market Cap 021022 Daily Chart

Crypto Market Starts the Fourth Quarter on a Bearish Footing

On Saturday, the crypto market rose to an early high of $909.6 billion before an extended decline to a late low of $891.5 billion. Despite the bearish session, the loss was modest by more recent standards.

The crypto market cap fell by $7.1 billion to $898.5 billion.

With the US markets closed through the weekend, the crypto market may take its cues from the NASDAQ 100 Mini in the final hour (UTC). A bearish start to the Monday session would test crypto investor resilience.

Crypto market has bearish first session of the quarter.
Total Market Cap 021022 Daily Chart

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

It was a bearish Saturday session for the crypto top ten.

DOGE and SOL led the way down, with losses of 2.42% and 1.75%, respectively, with ADA (-1.15%), ETH (-1.29%), and XRP (-1.03%) also struggling.

BNB (-0.67%) and BTC (-0.59%) saw relatively modest losses on the day.

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

Reserve Rights (RSR) and Terra Classic (LUNC) led the way, rallying by X% and U%, respectively, with stellar’s lumen (XLM) gaining X%.

However, Pancake Swap (CAKE), Helium (HNT), and Lido DAO (LDO) led the way down. CAKE and HNT slid by X% and Y%, respectively, with LDO falling by X%.

24-Hour Crypto Liquidations Slide in Range-Bound Session

Over 24 hours, total liquidations fell below normal levels, with the crypto market moving within a tight range at the start of the quarter. At the time of writing, 24-hour liquidations stood at $29.26 million, down from $92.79 million on Saturday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 14,570 versus 28,614 on Saturday morning. Liquidations were down over four and twelve hours while up for the final hour of the day (UTC).

According to Coinglass, 12-hour liquidations stood at $23.11 million, down from $66.05 million on Saturday morning, with four-hour liquidations down from $14.90 million to $4.25 million. However, one-hour liquidations were up from $0.563 million to $1.83 million.

The chart below shows market conditions throughout the session.

Crypto market sees bearish final hour.
Total Market Cap 021022 Hourly Chart

Crypto Market Daily Highlights – DOGE and BNB Bucked the Top Ten Trend

Key Insights:

  • It was a mixed Friday for the crypto top ten, with dogecoin (DOGE) bucking the top ten trend.
  • The crypto market recoupled from the NASDAQ 100, which fell for a third consecutive quarter on Fed and recession fears.
  • A mixed session left the total market cap down $48 billion for the session while up $40 billion for the quarter.

It was a mixed Friday session for the crypto top ten. DOGE bucked the top tend trend. However, BTC extended its losing streak to four quarters with a bearish Friday session. Despite the bearish session, BTC revisited $20,000 for just the second time in twelve sessions.

On Friday, the crypto market tracked the NASDAQ 100 into the red, with US inflation weighing.

NASDAQ correlation
Total Market Cap – NASDAQ – 011022 5 Minute Chart

The NASDAQ 100 fell by 1.51% to end the Q3 with a 4.11% loss.

Fed fear resurfaced at the end of the week, with US inflationary pressures picking up in August. The Core PCE Price Index increased by 4.9%, up from 4.7% in July.

Softer consumer sentiment figures for September provided brief relief before the crypto market and the NASDAQ reversed session gains. In September, the Michigan Consumer Sentiment Index rose from 58.2 to 58.6, down from a prelim 59.5.

Fed Fear and market jitters over a recession led the NASDAQ 100 to a third consecutive quarterly loss, the longest losing streak since the Global Financial Crisis. The correlation between the crypto market and the NASDAQ was evident throughout the three quarters of the year.

However, a brief post-Fed policy decision decoupling from the NASDAQ 100 delivered the quarterly rise for the broader crypto market.

Post-Fed decoupling.
Total Market Cap – NASDAQ – 011022 Daily Chart

Crypto Market Ends the Third Quarter on a Bearish Note

On Friday, the crypto market fell to a mid-day low of $893.3 billion before rising to a high of $933.13 billion. However, a bearish end to the Friday session saw the market cap slide back to sub-$900 billion before steadying.

Market reaction to the US inflation numbers reignited Fed fear, leaving the market in the red for the session. The bearish Friday session left the crypto market cap down $48.4 billion for September. However, the market cap rose by $39.8 billion in the third quarter.

Crypto market cap sees bearish Friday.
Total Market Cap 011022 Daily Chart

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

It is a mixed Friday session for the crypto top ten.

DOGE and BNB rose by 1.29% and 0.21%, respectively, to buck the top ten trend.

However, SOL reversed Thursday’s 2.11% gain with a 2.00% loss to lead the way down.

XRP (-1.42%) also struggled while ADA (-0.68%), BTC (-0.81%), and ETH (-0.53%) saw relatively modest losses.

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

Terra Classic (LUNC) led the way, rallying by 9.58%, with Quant (QNT) and Helium (HNT) seeing gains of 5.78% and 5.30%, respectively.

However, Chainlink (LINK) led the way down, falling by 4.03%, with Celsius (CEL) and Pancake Swap (CAKE) seeing losses of 3.72% and 3.21%, respectively.

24-Hour Crypto Liquidations Holds Steady Despite Bearish Session

Over 24 hours, total liquidations held steady during the Friday session, despite a pickup in US inflationary pressure. At the time of writing, 24-hour liquidations stood at $92.79 million, up from $91.62 million on Friday morning.

Liquidated traders over the last 24 hours also inched higher. At the time of writing, liquidated traders stood at 28,614 versus 28,061 on Friday morning. Liquidations were down over twelve hours and the final hour of the day (UTC) while up over four hours.

Crypto liquidations hold steady.
Total Market Cap 011022 Hourly Chart

According to Coinglass, 12-hour liquidations stood at $66.05 million, down from $70.50 million on Friday morning, with one-hour liquidations down from $1.97 million to $0.563 million. However, four-hour liquidations were up from $10.46 million to $14.90 million.

The chart below shows market conditions throughout the session.

US Economic Indicators Influence.
Total Market Cap 011022 Hourly Chart

Crypto Market Daily Highlights – XRP Leads on SEC v Ripple Ruling

Key Insights:

  • It was a mixed Thursday for the crypto top ten, with XRP leading the way.
  • The crypto market decoupled from the NASDAQ 100, which tumbled by 2.84%, as demand for cryptos picked up amidst the increased volatility across the FX and Equity markets.
  • Another bullish session for the broader crypto market reduced the market cap deficit for September to $47 billion.

It was a mixed Thursday session for the crypto top ten. XRP enjoyed a breakout session, while ETH saw red. Despite a bullish session, BTC fell short of $20,000 for the tenth time in eleven sessions.

Updates from the SEC v Ripple case delivered an XRP price breakout and supported the broader crypto market.

Following last week’s decoupling from the NASDAQ 100, the crypto market decoupled again on Thursday. Heightened uncertainty over the economic outlook, fueled by the central bank and government policy, has also delivered crypto support.

On Thursday, the NASDAQ 100 slid by 2.84%, with the Dow and the S&P500 seeing losses of 1.54% and 2.11%, respectively. While the crypto market decoupled from the US markets on Thursday, US inflation numbers could test investor resilience later today.

NADSAQ correlation.
Total Market Cap – NASDAQ – 300922 5 Minute Chart

Crypto Market Bounces Back in Risk-On US Session

On Thursday, the crypto market cap rose to an early high of $917.8 billion before falling to an early afternoon low of $878.7 billion. However, finding support through the afternoon, the crypto market bounced back to end the day at $911.4 billion, up $7.4 billion for the session.

The bullish Thursday session reduced the September deficit to $47 billion.

Crypto market cap on the rise.
Total Market Cap 300922 Daily Chart

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

It was a mixed Thursday session for the crypto top ten.

XRP rallied by 8.49% to lead the way, with SOL rising by 2.11%.

ADA (+0.46%), BNB (+0.96%), BTC (+0.88%), and DOGE (+0.64%) also avoided the red, while ETH bucked the trend, falling by 0.07%.

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

XRP and Stellar’s Lumen (XLM) led the way, with gains of 8.49% and 6.81%, respectively. EOS (EOS) was also among the front runners, rising by 5.07%.

At the other end of the table, Helium (HNT) led the way down with a 3.71% loss, with STEPN (GMT) and Reserve Rights (RSR) seeing losses of 3.26% and 2.69%, respectively.

24-HourCrypto Liquidations Ease Back as Risk Aversion Subsides

Over 24 hours, total liquidations fell back during the Thursday session, supported by the decoupling from the NASDAQ 100. At the time of writing, 24-hour liquidations stood at $91.62 million, down from $124.53 million on Thursday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 28,061 versus 44,964 on Thursday morning. Liquidations were down over four hours and the final hour of the day (UTC) while up over 12 hours.

Crypto liquidations fall back on bullish session.
Total Crypto Liquidations 300922

According to Coinglass, 12-hour liquidations stood at $70.50 million, up from $56.39 million on Thursday morning. However, four-hour liquidations were down from $14.28 million to $10.46 million, with one-hour liquidations down from $3.06 million to $1.97 million.

The chart below shows market conditions throughout the session.

Crypto market sees a choppy Thursday session.
Total Market Cap 300922 Hourly Chart

 

Crypto Market Daily Highlights – BNB and BTC Lead the Top Ten

Key Insights:

  • It is a mixed Wednesday for the crypto top ten, with binance coin (BNB) and bitcoin (BTC) leading the top ten.
  • The Bank of England calmed the markets on Wednesday, which had hit deep red in response to Apple’s iPhone 14 production news.
  • With 140 minutes of the session remaining, the total crypto market cap is up $14.1 billion to $910.0 billion.

It is a mixed Wednesday session for the crypto top ten. BNB and BTC lead the top ten, while ADA struggles through the mid-week session. A choppy session saw BTC fall to sub-$18,500 before bouncing back. However, BTC is on target to fall short of $20,000 for the ninth time in ten sessions.

Through the early part of the Wednesday session, news of Apple Inc (AAPL) pulling plans to ramp up the production of the new iPhone 14 product suite weighed on riskier assets. However, the Bank of England calmed market tension later in the session by buying longer-dated bonds to combat the impact of the UK Government’s mini-budget on the British Pound.

Throughout the session, the crypto market recoupled with the NASDAQ 100, which ended the day up 2.05%. Ahead of the BoE intervention, the NASDAQ 100 Mini had spent most of the day in negative territory.

NASDAQ 100 correlation.
Total Market Cap – NASDAQ – 290922 5 Minute Chart

Crypto Market Bounces Back in Risk-On US Session

On Wednesday, the crypto market cap tumbled to an early low of $865.4 billion in response to the Apple news. However, in response to the BoE intervention, the crypto market cap rose to a late high of $917.8 billion before easing back.

With 140 minutes of the Wednesday session remaining, the crypto market cap is up $14.1 billion to $910.0 billion.

Crypto market bounces back on BoE intervention.
Total Market Cap 290922 Daily Chart

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

It is a mixed Wednesday session for the crypto top ten.

BNB and BTC lead the way, with gains of 3.71% and 2.83%, respectively.

XRP (+2.05%) and SOL (+1.87%) also found strong support, while DOGE (+0.22%) and ETH (+1.14%) trailed the front runners.

ADA currently bucks the top tend trend, with a 0.23% loss.

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

Helium (HNT) leads the way, rallying by 10.29%, with synthetix (SNX) and kava (KAVA) seeing gains of 9.27% and 6.20%, respectively.

At the other end of the table, IOTA (MIOTA) leads the way down, falling by 3.40%, with STEPN (GMT) and 1inch Network (1INCH) down by 2.83% and 3.16%, respectively.

24-HourCrypto Liquidations Ease Back as Risk Aversion Subsides

Over 24 hours, total liquidations fell back during the Wednesday session, supported by a mid-session shift in risk appetite.

At the time of writing, 24-hour liquidations stood at $124.53 million, down from $154.14 million on Wednesday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 44,964 versus 49,758 on Wednesday morning. Liquidations were up over four hours and the final hour of the day (UTC) while down over 12 hours.

Crypto liquidations ease in a choppy session.
Total Crypto Liquidations 290922

According to Coinglass, 12-hour liquidations stood at $56.39 million, down from $86.08 million on Wednesday morning. However, four-hour liquidations were up from $4.38 million to $14.28 million, with one-hour liquidations up from $1.92 million to $3.06 million.

The chart below shows market conditions throughout the session.

Crypto market volatility hit by external market forces.
Total Market Cap 290922 Hourly Chart

 

Crypto Market Daily Highlights – DOGE Bucks the Top Ten Trend

Key Insights:

  • It is a mixed Saturday session for the crypto top ten, with DOGE bucking the top ten trend.
  • Following two bullish sessions, a lack of external market forces left investors to lock in profits.
  • The total crypto market cap is down $9.4 billion to $896.2 billion, with 120-minutes of the session remaining.

It is a mixed Saturday session for the crypto top ten. DOGE leads the way, while XRP hits reverse as investors lock in profits from a bullish week. BTC fell short of $20,000 for a sixth consecutive session and faces the prospect of ending the day at sub-$19,000 for the third time this week.

There were no crypto news stories to test investor sentiment, leaving investors to take profit before the start of a new week. After decoupling from the NASDAQ 100 on Thursday and Friday, the final hour (UTC) of today’s session could dictate the influence of the NASDAQ 100 in the week ahead.

A recoupling with the NASDAQ 100 Mini would put the US economic calendar back in focus.

NASDAQ correlation
Total Market Cap – NASDAQ – 250922 Daily Chart

Crypto Market Falls to Sub-$900bn as Investors Lock in Profits

On Saturday, the crypto market cap rose to an early afternoon high of $916.7 billion before falling to a low of $889.9 billion. A lack of external forces left investors to lock in profits following Thursday’s breakout session and Friday’s consolidation.

The crypto market cap is down by $9.4 billion to $896.2 billion, with two hours of the Saturday session remaining. For September, the crypto market is down $57 billion.

Crypto market cap back below $900bn.
Total Market Cap 250922 Daily Chart

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

It is a mixed Saturday session for the crypto top ten.

XRP leads the way down, falling by 3.21% with 2-hours of the Saturday session remaining.

ADA (-1.52%) and BTC (-1.85%) are also struggling, with BNB (-0.18%), ETH (-0.29%), and SOL (-0.68%) in the red.

However, DOGE bucks the top ten trend, rising by 0.11%.

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

Reserve Rights (RSR), Quant (QNT), and Shiba Inu Coin (SHIB) lead the way. RSR is up 7.51%, with QNT and SHIB seeing gains of 3.19% and 3.79%, respectively.

However, Helium (HNT) leads the way down, sliding by 11.51%, with Terra Classic (LUNC) and Lido DAO (LDO) falling by 6.15% and 4.25%, respectively.

24-HourCrypto Liquidations Fall in a Range-Bound Session

Over 24 hours, total liquidations hit reverse in a relatively range-bound but bearish Saturday session.

At the time of writing, 24-hour liquidations stood at $63.12 million, down from $147.92 million on Saturday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 27,917 versus 63,896 on Saturday morning.

Liquidations were also down over four and twelve hours while up over the last hour.

Liquidations are up over the last hour.
Total Crypto Liquidations 250922

According to Coinglass, 12-hour liquidations stood at $63.12 million, down from $81.53 million on Saturday morning, with four-hour liquidations falling from $32.29 million to $12.63 million.

However, one-hour liquidations increased from $4.52 million to $6.45 million, reflecting a late pullback. The chart below shows market conditions throughout the session.

Crypto market under pressure in the last hour.
Total Market Cap 250922 Hourly Chart

Crypto Market Daily Highlights – DOGE Leads Bullish Top Ten Session

Key Insights:

  • It was a mixed Friday session for the crypto top ten, with DOGE leading XRP and SOL.
  • The crypto market decoupled from the NASDAQ 100 for a second consecutive session, despite fears of a global recession.
  • The total crypto market cap rose by $1.16 billion to $905.6 billion.

It was a mixed Friday session for the crypto top ten. DOGE led the way, with XRP and SOL close behind. However, BTC bucked the top ten trend to join the NASDAQ in the red. Significantly, BTC fell short of $20,000 for a fifth consecutive session.

The breakout session for DOGE came on news of a jump in DOGE addresses holding between 100 million and 1 billion over 7-days. Investors also responded favorably to Ethereum co-founder Vitalik Buterin saying that Dogecoin should move to the Proof-of-Stake (PoS) protocol.

For the broader crypto market, better-than-expected US private sector PMI numbers initially sent the market into the red before a post-stat rebound.

In September, the Manufacturing PMI rose from 51.5 to 51.8, with the Services PMI up from 43.7 to 49.2. Significantly, the numbers showed the US economy diverging from the Eurozone and the UK economies. The US composite PMI rose from 43.7 to 49.2. By contrast, the Eurozone composite fell from 48.9 to 48.4 and the UK composite from 49.6 to 48.4.

Weakening currencies amidst a gloomy economic backdrop may have fueled demand for cryptos as the Dollar’s dominance strengthens.

However, despite the better-than-expected US PMIs, the NASDAQ 100 fell by 1.80%. PMIs from the Eurozone and the UK raised fears of a global recession. The weak numbers and central banks committed to bringing inflation to target remain the bearish theme, which could thaw the crypto market out of the Crypto Winter.

NASDAQ decoupling.
Total Market Cap – NASDAQ – 240922 5 Minute Chart

Crypto Market Decouples from the NASDAQ for a Second Session

On Friday, the crypto market cap rose to a pre-Eurozone and member state PMI high of $921.21 billion. The PMIs from Europe and the US sent the crypto market cap to a low of $870.6 billion before a late rebound.

Market reaction to PMIs.
Total Market Cap 240922 Hourly Chart

On Friday, the crypto market cap increased by $1.16 billion to $905.64 billion. However, the crypto market was down $48 billion for September.

Crypto market cap rises for a second session.
Total Market Cap 240922 Daily Chart

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

It was a mixed Friday session for the crypto top ten.

DOGE led the way, rallying by 6.31%, with XRP and SOL seeing gains of 4.66% and 5.76%, respectively.

ADA (+0.87%), BNB (+0.47%), and ETH (+0.03%) also ended the day in positive territory, while BTC bucked the trend, falling by 0.59%.

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

Reserve Rights (RSR), Cronos (CRO), and Helium (HNT) led the way. RSR rallied by 14.37% to join the top 100, with CRO and HNT seeing gains of 13.68% and 8.89%, respectively.

However, UNUS SED LEO (LEO) led the way down, sliding by 14.07%, with Toncoin (TON) and Terra Classic (LUNC) falling by 8.08% and 10.32%, respectively.

24-HourCrypto Liquidations Rise on Recession Fears

Over 24 hours, total liquidations increased despite the crypto market decoupling from the NASDAQ 100 for a second session.

At the time of writing, 24-hour liquidations stood at $147.92 million, up from $110.35 million on Friday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 63,896, up from 38,827 on Friday morning.

Liquidations over four and twelve hours were up, while one-hour liquidations decreased.

Crypto liquidations rise.
Total Crypto Liquidations 240922

According to Coinglass, 12-hour liquidations stood at $81.53 million, up from $65.30 million on Friday morning, with four-hour liquidations rising from $24.70 million to $32.29 million. However, one-hour liquidations decreased from $6.44 million to $4.52 million, reflecting late support. The chart below shows market conditions throughout the session.

Crypto market steadies in the final hour.
Total Market Cap 240922 Hourly Chart

Crypto Market Daily Highlights – ETH and XRP Sink in Fed Sell-Off

Key Insights:

  • It is a bearish Wednesday session for the crypto top ten, with ETH and XRP leading the top ten into the red.
  • The Fed rate hike, FOMC projections, and Fed Chair Powell’s press conference sent the NASDAQ 100 and the crypto market south.
  • The total crypto market cap is down by $22.0 billion to $862.4 billion.

It is a bearish Wednesday session for the crypto top ten. ETH and XRP lead the crypto top ten into the red as investors responded to the Fed policy decision, projections, and Powell’s press conference. BTC fell short of $20,000 for a third consecutive session.

The Federal Reserve sent riskier assets into negative territory, with a 75-basis point rate hike and the talk of more to come. Downward revisions to growth forecasts and upward revisions to inflation and median interest rates for 2022 and 2023 were also crypto market negative.

On Wednesday, the NASDAQ 100 slid by 1.79%, with the crypto market closely tracking the NASDAQ throughout the US session. This morning, the NASDAQ 100 Mini was down 90 points.

NASDAQ correlation.
Total Market Cap – NASDAQ – 220922 5 Minute Chart

Crypto Market Slides as Investors Respond to the Federal Reserve

On Wednesday, the crypto market cap rose to a pre-Fed high of $927.1 billion before sliding to a post-Fed low of $847.0 billion. A late partial recovery leaves the market cap down $21.7 billion to $862.4 billion, with 40 minutes of the session remaining.

Crypto market cap hits reverse.
Total Market Cap 220922 Daily Chart

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

It is a bearish Wednesday session for the crypto top ten.

With 40 minutes of the session remaining, ETH and XRP lead the way down, with losses of 5.61% and 4.79%, respectively.

BTC (-2.00%), DOGE (-2.14%), and SOL (-2.27%) are also struggling, while ADA (-0.90%) and BNB (-0.86%) have recovered from heavier losses.

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

EOS (EOS) and Helium (HNT) are among the worst performers, sliding by 11.78% and 10.08%, respectively. Curve DAO Token (CRV) is down 8.86%.

At the top end of the table, Celsius (CEL), Compound (COMP), and Lido DAO (LDO) lead the way. COMP is up 4.62%, with CEL and LDO seeing gains of 3.83% and 2.18%, respectively.

24-HourCrypto Liquidations Slide Back on Hawkish Fed Move

Over 24 hours, total liquidations spiked in response to the Fed policy decision, projections, and press conference.

At the time of writing, 24-hour liquidations stood at $318.09 million, up from $121.53 million on Wednesday morning. Liquidated traders over the last 24 hours also spiked. At the time of writing, liquidated traders stood at 88,169 versus 37,436 on Wednesday morning.

Liquidations over twelve and four hours were up, while one-hour liquidations decreased.

Crypto liquidations spike.
Total Crypto Liquidations 220922

According to Coinglass, 12-hour liquidations stood at $291.50 million, up from $82.23 million on Wednesday morning, with four-hour liquidations rising from $16.13 million to $148.65 million.

However, one-hour liquidations declined from $11.61 million to $2.78 million, reflecting the late Wednesday partial recovery. The chart below shows market conditions throughout the session.

Crypto market finds late support.
Total Market Cap 220922 Hourly Chart

Crypto Market Daily Highlights – XRP Bucks a Bearish Top Ten Session

Key Insights:

  • It is a mixed Tuesday session for the crypto top ten, with XRP bucking the top ten trend.
  • Investor anxiety ahead of the Fed interest rate decision and projections weighed, while XRP heads north.
  • The total crypto market cap is down by $21.5 billion to $885.6 billion.

It is a mixed Tuesday session for the crypto top ten. XRP leads the crypto top ten on investor optimism towards the outcome of the SEC v Ripple case. However, ETH leads the way down, with BTC falling short of $20,000 for a second consecutive session.

Market angst over the upcoming Fed policy decision and FOMC projections continue to weigh. Fears of a hawkish Fed sending the global economy into a recession remain the theme following last week’s warnings.

The NASDAQ 100 failed to deliver support, falling by 0.95%, with Ford (F) joining a growing list of US giants to sound the alarm bells. On Tuesday, Ford reportedly said that inflation-related supplier costs would run about $1 billion higher than expected.

Supply chain disruption also remained an issue, with the company estimating that it will have up to 45,000 vehicles in inventory, lacking parts.

On Wednesday, the Fed will be the driving force and should remove a high degree of uncertainty vis-à-vis monetary policy. The crypto market will need a dovish 75-basis point rate hike to support a bullish end to the Wednesday session. Talk of smaller rate hikes in November and December, and a soft landing, should be crypto-friendly.

NASDAQ correlation.
Total Market Cap – NASDAQ – 210922 5 Minute Chart

Crypto Market Slides Back to Sub-$900bn on Fed Fear

On Tuesday, the crypto market cap rose to an early high of $914.9 billion before sliding to an early afternoon low of $876.2 billion. A late afternoon partial recovery to $904 billion was brief, with external market forces weighing.

With 120 minutes of the Tuesday session remaining, the total crypto market cap is down $21.5 billion to $885.6 billion.

Crypto market back at sub-$900bn.
Total Market Cap 210922 Daily Chart

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

It is a mixed Tuesday session for the crypto top ten.

XRP leads the way with 120 minutes of the session remaining (UTC), surging 7.17%. The hope of a favorable outcome to the SEC v Ripple case delivered support.

However, it is a bearish session for the rest of the top ten, with ETH (-4.34%) leading the way down.

ADA (-3.09%), BNB (-2.28%), BTC (-3.36%), and SOL (-3.21%) are also in the deep red, while DOGE is down by just 0.68%.

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

Helium (HNT), XRP, and Stellar (XLM) lead the way. HNT is up 8.17%, with XRP and XLM seeing gains of 7.17% and 6.24%, respectively.

However, cosmos (ATOM) and ravencoin (RVN) lead the way down, with losses of 10.67% and 9.55%, respectively. ApeCoin (APE) is also struggling, with a 4.28% fall.

24-HourCrypto Liquidations Slide Back on Bearish Session

Over 24 hours, total liquidations declined amidst rising fear towards the Fed monetary policy decision on Wednesday.

At the time of writing, 24-hour liquidations stood at $121.53 million, down from $292.44 million on Tuesday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 37,436 versus 71,318 on Tuesday morning. Liquidations over twelve and four hours were down, while one-hour liquidations increased.

Crypto liquidations slow ahead of the Fed.
Total Crypto Liquidations 210922

According to Coinglass, 12-hour liquidations stood at $82.23 million, down from $98.29 million on Tuesday morning, with four-hour liquidations falling from $24.44 million to $16.13 million. However, one-hour liquidations increased from $4.27 million to $11.61 million, reflecting a late Tuesday pullback. The chart below shows market conditions throughout the session.

Hourly chart aligned with liquidations.
Total Market Cap 210922 Hourly Chart

Crypto Market Daily Highlights – XRP Leads the Top Ten Rebound

Key Insights:

  • It was a bullish start to the week for the crypto top ten, with XRP leading the way.
  • Fed and recession fears sent the crypto market into the deep red before a rebound, supported by the NASDAQ 100.
  • The total crypto market cap rose by $11.7 billion to $907.1 billion.

It was a bullish Monday session for the crypto top ten. XRP led the crypto top ten on investor optimism towards the outcome of the SEC v Ripple case. However, BTC fell short of $20,000 for the fourth time since July 3.

Fed and recession fears continued to grip the crypto market going into the Monday session. Following Sunday’s reversal, BTC and ETH tumbled to new September lows. Market fears of Fed monetary policy sending the global economy into a recession weighed.

However, the NASDAQ 100 delivered market support through the US session as bets of a percentage point rate hike eased. There were no US economic indicators or crypto news stories to influence, leaving the NASDAQ to provide direction.

On Monday, the probability of a 75-basis point was 81.0% versus 19.0% for a percentage point hike. The latest split was less hawkish than on Sunday when the chance of a percentage point hike stood at 21%. The NASDAQ 100 rose by 0.76%, with the NASDAQ 100 Mini up 58.5 points this morning.

NASDAQ correlation.
Total Market Cap – NASDAQ – 200922 5 Minute Chart

Crypto Market Returns to $900bn in a Choppy Monday Session

On Monday, the crypto market cap tumbled to an early low of $856.8 billion before rebounding to a high of 915.9 billion.

The bullish Monday session left the crypto market cap up $11.7 billion to $907.1 billion. However, the market cap is down $54 billion for September.

Market cap returns to $900bn.
Total Market Cap 200922 Daily Chart

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

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

XRP led the way, rising by 7.69%, with SOL (+4.90%) a distant second.

BNB (+2.14%), DOGE (+1.92%), and ETH (+3.11%) also found strong support, while ADA (+1.12%) and BTC (+0.65%) trailed.

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

Helium (HNT) and apecoin (APE) led the way, rallying by 15.41% and 15.56%, respectively. Algorand (ALGO) ended the day up 8.56%.

However, Chainlink (LINK) was among the worst performers, falling by 2.97%. Huobi Token (HT) and polkadot (DOT) saw losses of 0.57% and 0.93%, respectively.

24-HourCrypto Liquidations Continue Uptrend as Volatility Spikes

Over 24 hours, total liquidations increased as Fed and recession fears delivered a choppy session.

At the time of writing, 24-hour liquidations stood at $292.44 million, up from $264.19 million on Monday morning.

Liquidated traders over the last 24 hours declined, however. At the time of writing, liquidated traders stood at 71,318 versus 99,009 on Monday morning.

Liquidations over twelve and four hours were down, reflecting the market rebound, while one-hour liquidations increased.

Liquidations rise.
Total Crypto Liquidations 200922

According to Coinglass, 12-hour liquidations stood at $98.29 million, down from $226.35 million on Monday morning, with four-hour liquidations falling from $140.44 million to $24.44 million. However, one-hour liquidations increased from $2.79 million to $4.27 million, reflecting the early Tuesday market decline. The chart below shows market conditions throughout the session.

Crypto market sees early Tuesday pullback.
Total Market Cap 200922 Hourly Chart

5 Things to Know in Crypto Today: Fed & Recession Fears Grip

Key Insights:

  • Ethereum (ETH) and bitcoin (BTC) sink on renewed Fed and recessionary fears.
  • Regulators continued to turn the screw, with FTX in the spotlight.
  • Helium (HNT) bucked a bearish market trend on news of a Binance accounting error.

Fed and Recession Fears Jolt the Crypto Market

This morning, the total crypto market cap tumbled by $27.8 billion to $867.6 billion. Fed and recession fear sent the crypto market tumbling on Sunday, and bearish sentiment has continued through this morning’s session.

Cryptos turn bearish.
Crypto Market Cap 190922 Daily Chart

Last Tuesday’s US CPI report caught the markets off guard, and while economic indicators raise red flags, central banks remain committed to front-loading rate hikes to bring inflation to target.

According to the CME FedWatch Tool, the probability of a percentage point rate hike on November 2 sits at 13.3%, up from 0.0% a week ago. While the chances of a 75-basis point rate hike held steady, the probability of a 50-basis point rate fell from 30.7% to 27.0% over the last seven days.

Fed rate outlook hawkish.
CME Probability Fed 190922

While the numbers in isolation may be of little concern, fears of a global economic recession and a hawkish Fed are negative for cryptos.

On Thursday, the World Bank issued a press release titled ‘Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes.’

The World Bank highlighted the risks of a ‘string of financial crisis in emerging market and developing economies that would do them lasting harm.’

The report preceded a FedEx (FDX) warning of deteriorating economic conditions on Friday. FedEx was not the first to raise concerns. In July, Walmart (WMT) hit the crypto market with a warning of its own.

Helium (HNT) Leads a Choppy Market

This morning, HNT surged by 17.5% to $4.67.

The bounce back from sub-$4.00 came on news of a Binance accounting error leading to the mass selling of erroneously allocated HNT tokens. The Binance error was an accounting error, classifying HNT and the network’s second token, Mobile, as one token.

Binance credited users who deposited Mobile tokens with the higher valued HNT tokens. Holders quickly sold the HNT tokens, leading to the price slide.

HNT in recovery mode.
HNTUSD 190922 Daily Chart

South Korean Authorities Request Interpol Red Letter to Nab Do Kwon

Last week, South Korean authorities issued an arrest warrant for Terra Labs founder Do Kwon. Since then, the situation has become direr. The hunt for Do Kwon has intensified, culminating in authorities calling on Interpol to issue a red letter.

Over the weekend, the Singapore government stated that Do Kwon was not living in Singapore. Even Do Kwon stated that he was not on the run, saying,

“I’m not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide.”

However, investors showed little concern. At the time of writing, LUNA was up 12.2% to $0.000309.

LUNA on the move despite Do Kwon woes.
LUNAUSD 190922 Daily Chart

The Financial Conduct Authority Raises FTX Red Flag

FTX has had plenty of news coverage in recent days. Over the weekend, FTX CEO talked of a $1 billion crypto chest to acquire or aid ailing crypt-related firms.

However, the news has not all been FTX-positive. Last week, the FTC warned that FTX is an unauthorized FTC entity. In the announcement, the FTC stated,

“The firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

The Ripple Team Share Their Views on the SEC

Following the weekend filings, Ripple CEO Brad Garlinghouse stated,

“Today’s filings make it clear the SEC isn’t interested in applying the law. They want to remake it all in an impermissible effort to expand their jurisdiction far beyond the authority granted to them by Congress.”

Ripple Defense counsel Stuart Alderoty said,

“My hot take – after two years of litigation, the SEC is unable to identify any contract for investment (that’s what the statute requires); and cannot satisfy a single prong of the Supreme Court’s Howey test. Everything else is just noise.”

Fed and recession fears overshadowed investor optimism for a favorable outcome to the SEC v Ripple case on Sunday and this morning. On Sunday, XRP came within reach of $0.40 before succumbing to market forces.

XRP on the back foot.
XRPUSD 190922 Daily Chart

 

Crypto Market Daily Highlights – SOL and BTC Lead the Top Ten Sell-Off

Key Insights:

  • It is a bearish Tuesday session for the crypto top ten, with solana (SOL) leading the way down and bitcoin (BTC) revisiting sub-$20,000.
  • Fed Fear resurfaced, with the US CPI report for August sending riskier assets into the deep red.
  • The total crypto market cap is down by $75.7 billion to $954.6 billion, with 60 minutes of the session remaining.

It is a mixed Tuesday session for the crypto top ten. Solana (SOL) leads the way down, sliding by 11.01. The bearish session also saw bitcoin (BTC) slide to sub-$20,000 before a partial recovery. Currently down by 9.63%, BTC is set to end a six-day winning streak.

Crypto news wires had a muted impact on the broader crypto market. The US CPI report for August caught investors by surprise, leading to a flight to safety.

In August, the US annual rate of inflation softened from 8.5% to 8.3%, while the core annual rate of inflation accelerated from 5.9% to 6.3%. Economists forecast inflation rates of 8.1% and 6.1%, respectively.

Market reaction to US CPI Report.
Total Market Cap 140922 30 Minute Chart

The numbers raised bets of a percentage point rate hike at next week’s FOMC meeting and a more hawkish move in November. The numbers also sent the NASDAQ 100 into a tailspin. On Tuesday, the NASDAQ 100 tumbled by 5.16%, the largest one-day loss since the early days of the COVID-19 pandemic.

Today, US wholesale inflation figures could test investor resilience further. A pickup in wholesale inflationary pressure would point to an uptrend in consumer prices in the coming months.

NASDAQ correlation.
Total Market Cap – NASDAQ – 140922 Daily Chart

Crypto Market Sees Six-Day Winning Streak Crashing to an End

On Tuesday, the crypto market cap rose to an early evening high of $1,049 billion before hitting reverse. Responding to the US CPI report, the crypto market cap tumbled to a day low of $942.8 billion before steadying.

With 60 minutes of the Tuesday session remaining, the crypto market cap is down $75.7 billion to $954.6 billion. The Tuesday sell-off brings a six-day winning streak to an end.

Crypto market cap sell-off.
Total Market Cap 140922 Daily Chart

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

It is a bearish Tuesday session for the crypto top ten.

SOL leads the way down, sliding by 11.01%, with BTC (-9.63%) close behind.

However, things are not much better for the rest of the top ten

ADA (-6.99%), BNB (-5.78%), DOGE (-6.26%), ETH (-7.65%), and XRP (-7.48%) also seeing heavy losses.

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

Trust Wallet Token (TWT) and Kyber Network (KNC) are bucking the broader market trend, with gains of 2.20% and 2.62%, respectively.

However, The Graph (GRT) leads the way down, sliding by 15.44%. Golem (GLM) and Helium (HNT) are down by 14.57% and 12.69%, respectively.

24-HourCrypto Liquidations Spike in Response to the US CPI Report

Over 24 hours, total liquidations increased as investors reacted to the US CPI report for August.

At the time of writing, 24-hour liquidations stood at $353.74 million, up from $206.12 million on Tuesday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 99,381 versus 64,872 on Tuesday morning. Liquidations over twelve and four hours were up, while liquidations over one hour declined as the crypto market steadied late in the session.

Crypto liquidations spike.
Total Crypto Liquidations 140922

According to Coinglass, 12-hour liquidations stood at $296.84 million, up from $91.64 million on Tuesday morning, with four-hour liquidations up from $14.45 million to $54.37 million. However, one-hour liquidations were down from $6.68 million to $2.88 million. The chart below shows market conditions throughout the session.

Hourly market cap chart.
Total Market Cap 140922 Hourly Chart

5 Best Performing Coins of the Week – RVN led APE, ATOM, ETC, and HNT

Key Insights:

  • It was a bullish week for the broader crypto market, with the market cap rising for a second consecutive week.
  • Fed fear subsided, with investors resigning to the likely 75-basis point rate hike this month.
  • Several cryptos stood out from the pack. RVN led the way, with APE, ATOM, ETC, and HNT making solid gains.

The total crypto market cap in the September 5 week increased by $63.8 billion to $1,026 billion. Six bullish sessions from seven delivered the jump, though a broad-based crypto market rally on Friday was the key contributor. On Friday, the crypto market cap surged by $62.3 billion.

A shift in investor sentiment towards the Fed delivered the breakout session.

Investors responded to policy moves by the Bank of Canada and the ECB, both of whom hiked rates by 75 basis points. A market realization that the Fed is not alone in cranking up interest rates despite economic uncertainty eased investor angst.

SEC Chair Gary Gensler chatter failed to spook investors late in the week, despite Gensler continuing to claim rights to regulate the broader crypto market.

Crypto market returns to $1 trillion.
Crypto Market Cap 120922 Daily Chart

Hawkish FOMC member and Fed Chair Powell speeches failed to influence, with a 75-basis point rate hike baked in. However, any talk of a percentage point hike could spook investors.

Throughout the week, the influence of the NASDAQ 100 on the broader market was clear. The NASDAQ 100 rose by 4.14% versus a crypto market gain of 4.91% (Mon-Fri).

NASDAQ correlation.
NASDAQ – Crypto Market Cap – 120922 Daily Chart

Across the CoinMarketCap top 100, several cryptos stood out from the pack.

Ravencoin (RVN) led the way, with apecoin (APE), cosmos (ATOM), ethereum classic (ETC), and helium (HNT) among the crypto 100 front runners.

Ravencoin (RVN)

For the week, RVN surged by 48.9% to end the week at $0.05156. A mixed start to the week saw RVN fall to a Monday low of $0.0314 before surging to a Friday high of $0.06249. A 53% rally on Friday delivered an impressive return for the week. However, a bearish Sunday led to a fallback to test support at $0.050.

Progress towards the Ethereum (ETH) merge was the key to RVN’s bullish week. A sharp increase in new miners, reportedly switching out of the Ethereum ecosystem, drove RVN demand.

Investor appetite for proof-of-work (PoW) protocols has risen as Ethereum miners look for alternative mining income streams. On Tuesday, mining pool operator Hiveon launched the Ravencoin Mining Pool. By Wednesday, the Hiveon RVN Pool ranked #4 according to Miningpoolstats.

Looking at the trends, a move through the September high of $0.06249 and a return to $0.065 would give the bulls a run at the March high of $0.07669. From there, RVN would have a free run at $0.10 and the January/2022 high of $0.1425.

For the bears, an RVN fall through August low of $0.02680 would bring the June and the current year low of $0.01710 into view.

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Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bullish signal. RVN sat above the 50-day EMA, currently at $0.04331.

The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA, delivering bullish price signals.

Following last week’s bullish crosses, a hold above the 50-day EMA would support a breakout from the August high of $0.06249 to target $0.0650. However, a pullback to sub-$0.050 would bring the 50-day EMA ($0.04331). A fall to sub-$0.03 would give the bears a run at the August low of $0.0268.

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ApeCoin (APE)

For the week, APE rallied by 18.40% to end the week at $5.6820. A bearish start to the week saw APE slide to a September low of $4.1675. Steering clear of sub-$4.00 and the June/2022 low of $3.0590, APE rallied to a Sunday high of $5.8320.

There were no major news events to support the bullish week, with APE still under selling pressure as the once sought-after NFT market continues to face a buying drought.

Looking at the trends, a move through Sunday’s high of $5.8320 and a return to $6.00 would bring the August high of $7.7270 into play. A breakout from the August high would then give the bulls a run at the May high of $27.6230. However, NFT market conditions will need to improve markedly to support a return to $20.

A fall through the September low of $4.1675 would bring the June/2022 low of $3.0590 into view. Near-term, avoiding sub-$4.00 will likely be the key.

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Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bullish signal. APE sat above the 200-day EMA, currently at $5.2630.

The 50-day EMA closed in on the 100-day EMA, with the 100-day EMA narrowing to the 200-day EMA, delivering bullish price signals. A bullish cross of the 50-day EMA through the 100-day EMA would support a return to $6.00 to target the August high ($7.7270).

However, a fall through the 200-day ($5.2630) EMAs would bring the 100-day EMA ($4.9904) into play. A fall through the 100-day EMA and the 50-day EMA ($4.9590) would give the bears a run at the September low of $4.1675.

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Cosmos (ATOM)

For the week, ATOM rallied 20.31% to end the week at $15.7002. Tracking the broader market, ATOM fell to a Wednesday low of $11.5436 before surging to a September high of $17.2028. However, a bearish weekend left ATOM at sub-$16.

With investors hungry for network upgrades, the planned rollout of Cosmos 2.0 was ATOM price positive.

Looking at the trends, an ATOM move through the September high of $17.2028 would give the bulls a free run at the May high of $20.3339. An ATOM return to $25 would support a run at the April high of $33.2901 to bring the January/2022 high of $45.7133 into view.

However, a return to sub-$14.50 would bring sub-$10.00 and the August low of $9.6499 into view.

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Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bullish signal. ATOM sat above the 50-day EMA, currently at $14.2140. Following the mid-week breakout from the 50-day EMA, avoiding sub-$14.50 would support a run at the September high of $17.2028 to bring $20.00 into view.

However, a fall through the 50-day EMA ($14.2140) would give the bears a run at the August low of $9.6499.

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Ethereum Classic (ETC)

For the week, ETC rallied by 18.49% to end the week at $38.5328. A bullish start to the week saw ETC rally from a Monday low of $31.5993 to a Tuesday high of $42.3581 before sliding back to sub-$35. However, bullish through the second half of the week, ETC revisited $40 before easing back.

There were no news updates to support the breakout week. However, an influx of miners from the Ethereum ecosystem drove demand for ETC, as with ravencoin.

Looking at the trends, an ETC move through the August high of $45.7085 would give the bulls a free run at the March/2022 high of $52.6339. However, a fall through the August low of $30.3621 would bring the June/2022 low of $12.4842 into view.

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Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bullish signal. ETC sat above the 50-day EMA, currently at $37.0186.

The 50-day widened from the 100-day EMA, with the 100-day EMA moving away from the 200-day EMA, delivering bullish price signals. An ETC hold above the 50-day EMA would support a continued run at the August high of $45.7085.

However, a fall through the 50-day EMA ($37.0186) would bring sub-$35.00 and the August low of $30.3621 into view.

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Helium (HNT)

HNT rallied by 19.95% to end the week at $5.1956. A bearish start to the week saw HNT slide to a Tuesday and September low of $3.2167. However, bullish through the remainder of the week, HNT struck a Saturday high of $6.1653 before sliding back.

There were no network news updates to support the breakout week. A pickup in appetite follows the bearish initial market reaction to the proposed migration to the Solana (SOL) blockchain.

Looking at the trends, an HNT return to $6.00 would support a run at the August high of $9.4612. A return to $10.00 would give the bulls a run at the May high of $16.6751. From there, HNT would need to break down resistance at $20 to target the February high of $32.0171. HNT struck a 2022 high of $45.7533 on January 5.

However, a fall to sub-$4.50 would bring the September/2022 low of $3.2167 into play.

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Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bearish signal. HNT sat below the 100-day EMA, currently at $5.2465. While the 50-day EMA narrowed to the 200-day EMA, the 100-day EMA eased back from the 200-day EMA to deliver mixed price signals.

An HNT move through the 100-day EMA would support a run at $6.00 and the August high of $9.4612. However, a fall through the 50-day EMA ($4.9492) would bring sub-$4.00 and the September low of $3.2167 into view.

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