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 Feds 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.

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.

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 stellars 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.