Key ideas:
- It was a bullish weekend for the top ten crypto, with DOGE and ETH leading the way.
- Dip buyers provided much-needed support as investors monitor recent talks with regulators and look to US economic indicators this week.
- The crypto market capitalization increased by $12.3 billion to end the week at $814.6 billion.
It was a bullish Sunday session for the crypto top ten. DOGO and ETH led the way, with BTC ending the day at $17,000. Notably, BTC ended the day at $17,000 for the third time in five sessions.
There were no crypto events to support the market on Sunday. Dip buyers probably jumped in after the reversal on Saturday. FTX contagion risk continues to decline, while regulatory risk remains a hurdle for cryptocurrencies.
Today, the US economic indicators will influence the NASDAQ Composite Index and the crypto market. For the crypto market, FTX debtor updates will need monitoring. Hopes that creditors will avoid material losses have supported the market at current levels.
US economic indicators include factory orders and the all-important ISM Non-Manufacturing PMI. Following the crypto market's sensitivity to last week's ISM Manufacturing PMI, we expect further influence from the Non-Manufacturing PMI. The weak numbers may support a less hawkish Fed, but would also fuel fears of a US economic downturn.
This morning, the NASDAQ mini is down 14.25 points.
Crypto Market Rebounds on Lighter Trading Volumes
On Sunday, the crypto market capitalization fell to a morning low of $800.1 billion before reaching a high of $819.4 billion in the past hour.
However, a late pullback left the market capitalization at $814.6 billion, a gain of $12.3 billion on the day. The bullish end to the week reversed previous losses to end the week with a profit of $3.13 billion.
The top ten crypto market movers and shakers and beyond
It was a bullish Sunday session for the top ten crypto.
DOGE Y ETH led the way, rising 4.51% and 3.12%, respectively.
ADA (+0.63%), bnb (+0.45%), BTC (+1.41%), MATIC (+2.27%), and XRP (+0.60%) also found support.
From the CoinMarketCap top 100, it was a mixed session.
Front (FRONT) led the way, rising 19.86%, with ethereumPoW (ETHW) and immutableX(SMEs) with gains of 8.61% and 5.27%, respectively.
However monero (XMR) led the way lower, falling 2.11%, with the chain (XCN) and tron โโ(TRX) with losses of 1.32% and 0.92%, respectively.
24-hour liquidations fell further on lighter trading volumes
Through 24 hours, total liquidations remained below normal levels, with lighter trading volumes over the weekend.
At the time of writing, 24-hour settlements stood at $24.56 million, up from $36.80 million on Sunday morning.
Traders liquidated in the last 24 hours also decreased. At the time of writing, traders liquidated stood at 10,230 compared to 11,509 on Sunday morning. Closeouts were down for 12 and four hours and one hour.
According to purse, 12-hour sales dropped from $27.15 million to $12.73 million, with four-hour sales down from $19.04 million to $2.72 million. One-hour sales fell from $1.59 million to $1.57 million.
The following chart shows the market conditions throughout the session.
