Crypto Market Daily Highlights – BTC Extends Losing Streak to Seven

1 month ago 20

Key Insights:

It was a mixed Saturday league for the crypto to ten, with bitcoin (BTC) bucking the apical 10 trend.
News of 3AC filing for bankruptcy, Voyager Digital suspending withdrawals, and rumors pegged backmost the majors, however.
However, the full crypto marketplace headdress roseate for the archetypal clip successful 7 sessions. A $2.28 cardinal summation took the marketplace headdress to $848.5 billion.

It was a mixed Saturday for the crypto market. Bitcoin (BTC) extended its losing streak to 7 sessions with a humble 0.12% loss. Cardano (ADA), Ethereum (ETH), and Solana (SOL) roseate for the archetypal clip successful 7 sessions.

The broader-based gains came contempt the crypto marketplace getting deed with quality of Three Arrows Capital (3AC) filing for bankruptcy and Voyager integer suspending withdrawals.

Relative to the losses astatine the crook of the quarter, however, the gains were modest, with downside risks firmly successful place.

Market headwinds see fears of a recession, sentiment towards monetary policy, and the evolving regulatory landscape, though the regulatory situation could amended for immoderate jurisdictions.

In the US, the palmy transition of the Lummis and Gillibrand bill could beryllium crypto-friendly, should lawmakers task the CFTC with regulating the integer plus space.

The Total Crypto Market Cap Sees End of Six Day Losing Streak

A bearish commencement to the time raised the imaginable of a seventh consecutive league successful the reddish earlier an day recovery.

The full crypto marketplace headdress fell to a debased of $832.5 cardinal earlier rising to a precocious of $858.1 billion.

Following a humble $2.28 cardinal rise, the full crypto marketplace headdress was down $17 cardinal for July.

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

BTC slipped by 0.12% to subordinate the apical 10 trend.

However, it was a comparatively bullish time for the rest. ADA roseate by 1.56% to pb the way, with SOL ending the time up 1.55%.

BNB (+0.65%) DOGE (+0.23%), ETH (+0.76%), and XRP (+0.60%) besides avoided the red.

From the CoinMarketCap apical 100, NEM (XEM) led the way, surging by 25.7%. Other notables included Synthetix (SNX), Tezos (XTZ), and Flow (FLOW).

SNX rallied by 16.8%, with XTZ and FLOW seeing gains of 5.4% and 5.6%, respectively.

However, AMP (AMP) and STEPN (GMT) were astatine the different extremity of the table, falling by 3.39% and 2.31%, respectively.

Total Crypto Liquidations Slide arsenic Cryptos Find Support

24-hour liquidations continued to bespeak improving marketplace conditions going into Sunday.

This morning, 24-hour liquidations stood astatine $58.2 million, down from $107 cardinal connected Saturday morning.

Liquidated traders implicit the past 24 hours besides declined. At the clip of writing, liquidated traders stood astatine 22,104 versus 36,758 connected Saturday morning.

However, one-hour liquidation figures reflected a precocious crypto pullback.

According to Coinglass, one-hour liquidations had fallen to sub-$0.300 cardinal earlier moving backmost done the $1 cardinal mark. However, lasting astatine $1.07 million, conditions improved from one-hour liquidations of $2.44 cardinal connected Saturday.

Daily News Highlights

Voyager Capital (VOYG) suspended deposits and withdrawals, citing the 3AC default.
The Columbian authorities launched the National Land Registry connected the XRP Ledger (XRPL).
KuCoin (KCS) CEO Johnny Lyu denied rumors of KuCoin readying to frost withdrawals.

This article was primitively posted connected FX Empire