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Crypto Market Daily Highlights – DOGE Visits $0.15 in a Mixed Session

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Key Insights:

  • It is a mixed Saturday session for the crypto top ten, with dogecoin (DOGE) leading the top 100.
  • Bullish sentiment from the week continued into the weekend. While Twitter (TWTR) news drove appetite for DOGE, bets of a Fed pivot supported the broader market.
  • The crypto market cap is up $21.4 billion to $980.9 billion with 77 minutes (UTC) of the session remaining.

It was a mixed Saturday session for the crypto top ten. Dogecoin (DOGE) leads the way for a fourth consecutive session. Notably, BTC revisited $21,000 while ending the day at $20,000 for the fifth successive day.

Investor reaction to Elon Musk’s acquisition of Twitter (TWTR) delivered a breakout session for DOGE. Hopes of a December Fed pivot provided support to the broader market, with market reaction to US economic indicators and corporate earnings from Friday spilling over to the Saturday session.

Following the stats, the FedWatch Tool had the probability of November and December rate hikes at 82.2% and 43.4%, respectively. One week ago, the likelihood of a 75-basis point hike in December stood at 45.6%.

Crypto market sensitivity to the FED leaves the correlation with the NASDAQ 100 in place near-term.

Total Market Cap – NASDAQ – 301022 Daily Chart

Crypto Market Visits $1 Trillion for the First Time Since September 13

A mixed start to the day saw the crypto market fall to an early low of $954.7 billion. However, bullish sentiment from the week continued into Saturday, with the crypto market rising to a late afternoon high of $1.003 billion before easing back. The crypto market visited $1 trillion for the first time since September 13.

While easing back to $980 billion, the total crypto market cap is up $21.4 billion with 77 minutes (UTC) of the session remaining.

Total Market Cap 301022 Daily Chart

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

It was a mixed Saturday session for the crypto top ten, with 75 minutes (UTC) of the session remaining.

DOGE led the way, surging by 47.04%.

ADA (+3.70%), BNB (+1.78%), BTC (+0.93%), ETH (+4.11%), and SOL (+2.42%) are also in positive territory.

However, XRP bucks the top ten trend, falling by 1.04%.

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

Dogecoin (DOGE) leads the way, with klaytn (KLAY) and mina (MINA) rallying by 25.68% and 12.84%, respectively.

However, toncoin (TON) lead the way down, falling by 6.50%, with casper (CSPR) and aptos (APT) seeing losses of 4.05% and 3.69%, respectively.

24-Hour Crypto Liquidations Spike on Another Bullish Session

Over 24 hours, total liquidations surged, with ETH, BTC, and DOGE moves driving liquidations up. At the time of writing, 24-hour liquidations stood at $567.38 million, up from $99.59 million on Saturday morning.

Liquidated traders over the last 24 hours also jumped. At the time of writing, liquidated traders stood at 143,019 versus 44,511 on Saturday morning. Liquidations were up over one and four hours and over 12 hours.

Total Crypto Clearances 301022

According to Coinglass, 12-hour liquidations rose from $63.42 million to $137.74 million, with four-hour liquidations rising from $4.68 million to $10.59 million. One-hour liquidations increased from $1.26 million to $2.30 million.

The chart below shows market conditions throughout the session.

Total Market Cap 301022 Hourly Chart