Crypto Market Daily Highlights – SOL Led the Top Ten Deep into the Red

Key Insights:

• It was a bearish Wednesday session for the crypto top ten, with solana (SOL) leading the way down.
• Inflation delivered riskier assets a bearish session, with hawkish Fed chatter adding to the bearish mood.
• The crypto market cap fell $13.5 billion to $874.6 billion.

It was a bearish Wednesday session for the crypto top ten. Solana (SOL) led the way down. However, despite the bearish session, BTC avoided sub-$19,000 for a fourth consecutive session while also falling short of $20,000 for a twelfth successive day.

There were no stats from the US to shift sentiment toward Fed monetary policy. Inflation numbers from Europe weighed on riskier assets, with the September figures showing resilience despite central bank efforts to begin bringing inflation to target.

Hawkish Fed chatter also weighed on riskier assets. FOMC dove Neel Kashkari talked about a strong job market and inflation, suggesting that inflationary pressures have not peaked.

Later today, US economic indicators include Philly Fed Manufacturing and jobless claims that will likely influence. This morning, the NASDAQ Mini was down 67 points.

Crypto Market Recouples with the NASDAQ in a Bearish Mid-Week Session

A mixed start to the day saw the crypto market rise to an early high of $890.5 billion before hitting reverse. The reversal saw the crypto market slide to a late low of $874.6 billion before steadying.

The bearish session left the crypto market down $13.5 billion to $874.6 billion, extending the October deficit to $30 billion.

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

It was a bearish Wednesday session for the crypto top ten.

SOL led the way, sliding by 4.30%, with ADA and XRP seeing losses of 3.31% and 3.05%, respectively.

BNB (-0.48%), BTC (-1.04%), DOGE (-1.81%), and ETH (-1.99%) also struggled.

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

Aptos (APT) led the way down, sliding by 14%, with casper (CSPR) and ethereum PoW (ETHW) seeing losses of 11.23% and 7.93%, respectively.

However, terraclassicUSD (USTC) led the way, surging by 21.29%, with trust wallet token (TWT) and Uniswap (UNI) seeing gains of 2.93% and 0.75%, respectively.

24-Hour Crypto Liquidations Slipped Despite Bearish Session

Over 24 hours, total liquidations decreased as risk aversion eased bets of a bullish session. At the time of writing, 24-hour liquidations stood at $49.74 million, down from $65.79 million on Wednesday morning.

Liquidated traders over the last 24 hours held steady. At the time of writing, liquidated traders stood at 28,771 versus 28,711 on Wednesday morning. Liquidations were up over one and four hours while down over 12 hours.

According to Coinglass, 12-hour liquidations fell from $46.13 million to $31.56 million. However, four-hour liquidations rose from $8.51 million to $18.25 million, with one-hour liquidations up from $0.125 million to $2.21 million.

The chart below shows market conditions throughout the session.