Crypto Market Daily Highlights – The NASDAQ Delivers Final-Hour Support

Key Insights:

• It was a mixed Monday for the crypto top ten. XRP led the way, while DOGE bucked the trend.
• Late in the session, the NASDAQ mini delivered much-needed support.
• The crypto market cap rose by $4.92 billion to end the day at $774.86 billion.

It was a mixed Monday session for the crypto top ten. XRP led the way, while DOGE bucked the trend. Notably, BTC failed to revisit $17,000 for the sixth consecutive session.

There were no crypto events to guide investors, with the news traffic on the light side during the holidays. However, news from the US delivered NASDAQ mini and crypto market support in the final hour (UTC).

According to Mastercard (MA), US retail sales increased by 7.6% between November 1 and December 24, which is better than a forecasted 7.1% rise. Over the same period in 2021, retail sales grew by 8.5%. While down compared with 2021, the numbers were good enough to support riskier assets.

Today, US economic indicators will draw interest, with housing sector numbers and trade data due out. However, barring a marked widening in the US trade deficit, the housing sector numbers will likely have more influence.

Investors will also need to monitor the news wires for FOMC member chatter and crypto events that could move the dial. Following the holidays, the NASDAQ Index will likely provide direction through the afternoon session. This morning, the NASDAQ mini was up 82.25 points.

Crypto Market Enjoys a NASDAQ Mini-Fueled Final-Hour Rally

It was a mixed Monday session, with the European and US markets closed for the holidays. On Monday, the crypto market cap fell to a late afternoon low of $766.19 billion before making a move.

A final-hour surge saw the crypto market cap rise to a high of $777.11 billion before easing back to end the day at $774.86 billion. Supported by the NASDAQ mini, the crypto market cap gained $4.92 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.

XRP rallied by 5.69% to lead the way, with ADA and MATIC seeing gains of 2.32% and 2.48%, respectively.

BNB (+0.45%), BTC (+0.59%), and ETH (+0.76%) saw modest gains, while DOGE fell by 0.39% to buck the trend.

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

Terra classic (LUNC) led the way, rallying by 9.73%, with lido DAO (LDO) and XRP (XRP) among the front-runners. LDO rose by 7.03%.

However, chain (XCN) slid by 5.81%, with toncoin (TON) and GMX (GMX) seeing losses of 2.74% and 1.82%, respectively.

24-Hour Liquidations See Liquidations Rise Over 12-Hours

Over 24 hours, crypto liquidations remained below-normal levels, despite the final-hour rally.

At the time of writing, 24-hour liquidations stood at $12.87 million versus $22.71 million on Monday morning.

Liquidated traders over the last 24 hours also remained below normal levels. At the time of writing, liquidated traders stood at 7,879 versus 8,907 on Monday morning. Crypto liquidations also fell over 12 and four hours and over one hour.

According to Coinglass, 12-hour liquidations stood at $6.42 million versus $21.45 million on Monday, with four-hour liquidations down from $2.68 million to $2.54 million. One-hour liquidations slipped from $1.57 million to $1.30 million.

The chart below shows market conditions throughout the session.