Crypto Market Daily Highlights – BNB Hit Reverse on Binance News

Key Insights:

• It was a mixed start to the week for the crypto top ten. BNB and DOGE suffered heavy losses.
• The NASDAQ Index provided broader crypto market support, with hopes of softer US inflation driving demand for riskier assets.
• Despite the bullish session, the upswing was modest, with the crypto market cap rising by $1.55 billion to $807.23 billion.

It was a mixed Monday session for the crypto top ten. BNB and DOGE led the way down, while MATIC found strong support. Despite a bullish session, BTC fell to sub-$17,000 for the first time in four sessions before wrapping up the day at $17,229.

BNB struggled throughout the session, with news of US authorities planning to charge Binance with financial crimes weighing.

There were no US economic indicators to provide direction. The lack of stats left the crypto market in the hands of the NASDAQ Index and sentiment toward today’s US CPI report.

Hopes of softer US inflation to support a December Fed pivot delivered a bullish NASDAQ Index session. The NASDAQ Index rose by 1.26%, with the S&P500 gaining 1.43% to provide crypto market support.

Today, the US CPI report will be in the spotlight, with softer inflation likely to deliver a bullish NASDAQ Index and crypto session. However, news updates on the investigations into Binance and updates from the SEC v Ripple case will also influence.

Crypto Market Finds NASDAQ Index Support Ahead of US CPI Report

A bearish start to the Monday session saw the crypto market slide to an early low of $790.23 billion. However, finding NASDAQ Index support through the afternoon session, the crypto market rose to a final hour high of $812.52 billion before easing back.

The late pullback left the crypto market up $1.55 billion to $807.23 billion on the day.

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

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

BNB and DOGE bucked the trend, sliding by 2.95% and 2.80%, respectively.

However, MATIC led the way, rising by 1.98%, with BTC (+0.70%), ETH (+1.01%), and XRP (+1.44%) reversing early losses to end the day in positive territory. ADA ended the day flat.

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

Stacks (STX) led the way, rallying by 8.45%, with GMX (GMX) and bitcoin SV (BSV) seeing gains of 6.15% and 7.31%, respectively.

However, trust wallet token (TWT) led the way down, sliding by 11.09%. Chain (XCN) and chiliz (CHZ) also struggled, falling by 7.64% and 3.77%, respectively.

24-Hour Liquidations Increase on a Choppy but Bullish Session

Over 24 hours, crypto liquidations increased as the market responded to the latest Binance news and the bullish afternoon session.

At the time of writing, 24-hour liquidations stood at $53.52 million versus $27.79 million on Monday morning.

Liquidated traders over the last 24 hours also increased. At the time of writing, liquidated traders stood at 26,298 versus 12,777 on Monday morning. However, crypto liquidations were down over 12 and four hours and one hour.

According to Coinglass, 12-hour liquidations fell from $25.17 million to $14.15 million, with four-hour liquidations down from $17.36 million to $9.03 million. One-hour liquidations decreased from $1.48 million to $0.723 million.

The chart below shows market conditions throughout the session.