Cryptocurrency Market Daily Highlights – XRP Stumbles Despite Nasdaq Support

the main ideas:

  • It was a mixed Thursday for the cryptocurrency top ten. XRP has taken a hit, with ADA and MATIC also seen in the red.
  • US economic indicators and the Nasdaq provided much-needed support, although the gains were modest.
  • The cryptocurrency market capitalization increased by $2.20 billion to end the day at $758.27 billion.

Thursday’s session was mixed for the cryptocurrency top ten. XRP has been so successful that ADA and MATIC have both struggled. However, BTC ended a two-day losing streak while failing to revisit $17,000 for the ninth consecutive session.

The downtrend has carried over from Wednesday into the Thursday session, with recession concerns lingering. However, US economic indicators and the NASDAQ provided much needed support.

Initial US jobless claims rose from 216,000 to 225,000 in the week ending December 23rd. Although the increase was modest, the numbers softened the hold on investors’ Fed concerns. The Nasdaq responded the weakest number, rising 2.59%, with the S&P 500 up 1.75%.

However, markets will have to wait for the December jobs report to assess whether labor market conditions have weakened enough to force the Fed to step away from the gas.

Today, US economic indicators are on the softer side, and the Chicago PMI is unlikely to move the wheel. Barring a crypto event, we expect the NASDAQ to continue to provide guidance. The Nasdaq mini index is down 7.5 points this morning, providing early pressure.

Total Market Cap – NASDAQ – 301,222 Hourly Chart

Cryptocurrency Market Finds NASDAQ Support For US Unemployment Claims

It was a mixed trading session on Thursday, as the cryptocurrency’s market cap fell to an early morning low of $749.43 billion before finding support. The cryptocurrency market cap rose to a mid-afternoon high of $763.42 billion before retreating.

The mixed end of the session saw the cryptocurrency market cap increase by $2.20 billion to $758.27 billion.

Total market cap 301,222 daily chart

Cryptocurrency market movers and shakers from the top ten and beyond

Thursday’s session was mixed for the cryptocurrency top ten.

XRP fell 3.86% to lead the way lower, with ADA (-1.61%) and MATIC (-0.64%) struggling.

In contrast, BNB (+0.78%), BTC (+0.60%), DOGE (+0.71%) and ETH (+0.88%) avoided the red.

Of the CoinMarketCap Top 100, it was a mixed session.

BitDAO (BIT) surged 20.16% to take the lead, with Trusted Wallet Token (TWT) and Ethereum Classic (ETC) up 6.54% and 3.87%, respectively.

However, Holo (HOT) fell 6.08%, with Chain (XCN) and Helium (HNT) losing 5.92% and 5.60% respectively.

The 24-hour liquidation is dropping again in the bullish Thursday session

For 24 hours, cryptocurrency liquidations remained below normal levels. At the time of writing, liquidations over the 24-hour period were $36.66 million, up from $77.53 million Thursday morning.

Traders who liquidated in the last 24 hours are also down. At the time of writing, the number of traders whose accounts have been liquidated is 17,948, up from 29,766 Thursday morning. Cryptocurrency liquidations decreased in 12 and 4 hours while they increased in 1 hour.

Total cryptocurrency liquidations 301,222

According to Coinglass, 12-hour liquidations totaled $29.81 million, down from $31.39 Thursday, with four-hour liquidations down from $14.71 million to $3.50 million. However, one-hour liquidations increased from $0.421 million to $0.591 million.

The chart below shows market conditions throughout the session.

Total market cap 301,222 hourly chart

Cryptocurrency Market Daily Highlights – XRP Stumbles Despite NASDAQ Support – Coinphony [SV]

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