Key Insights: On Monday, the crypto top ten resumed the recent upswing, with Ethereum (ETH) surging by 18% to lead the way.
A shift in sentiment across the crypto market led to decoupling from the NASDAQ 100, with market focus returning to crypto network news updates.
The total crypto market cap jumped by $82.59 billion to hit $1 trillion for the first time since June 13.
It was a bullish Monday session for the crypto top ten.Bitcoin ( BTC ) broke out from its recent ranges, with a visit to $22,000, with ETH bringing $2,000 into view.
Market sentiment towards the Ethereum Merge and the Cardano ( ADA ) Vasil hard fork muted the influence of the NASDAQ 100 on investor appetite.
On Sunday, we talked of the crypto market decoupling from the US equity markets, which entered the earnings season.A breakout after the US market close suggests the beginnings of a decoupling.
There were no FOMC member speeches to consider, with the Fed in the blackout period until July 28.Adding further support to the crypto market were easing bets of a 100-basis point rate hike later this month.
At the time of writing, the NASDAQ 100 Mini was up 33 points.
The Total Crypto Market Cap Hits $1 Trillion A bullish Monday session saw the total crypto market cap rise from a low of $929 billion to a high of $1,026 billion before hitting reverse.
The reversal, weighed by the NASDAQ 100, led to a fall back to $966 billion before a post-US market crypto rally.
On Monday, the total crypto market cap surged by $82.59 billion to close out the day at $1 trillion for the first time since June 12.
A bitcoin return to $22,000 and an Ethereum surge to $1,500 were the milestones driving the broad-based crypto rally.
Total Market Cap 190722 Daily Chart The Crypto Market Movers and Shakers from the Top Ten and Beyond ETH surged by 18.17% to lead the crypto top ten, with ADA (+9.37%) and SOL (+12.73%) also making impressive gains.
However, BNB (+6.62%), BTC (+7.95%), DOGE (+7.15%), and XRP (+6.47%) trailed the front runners.
Story continues From the CoinMarketCap top 100, Ethereum Classic ( ETC ) surged by 31.4% to lead the 100.
Polygon (MATIC) and STEPN (GMT) were close behind, with gains of 27.4% and 25.77%, respectively.
Lido DAO ( LDO ) bucked the broader market trend, with a 10.55% loss as investors locked in profits.
Total Crypto Liquidations Surge, Suggesting a Possible Market Pullback On Tuesday, 24-hour liquidations surged, suggesting a possible pullback from Monday levels.Over the weekend, we saw a similar rise in 24-hour liquidations going into Sunday that projected a bearish session, which materialized after a bullish start.
This morning, 24-hour liquidations stood at $691 million, up from $116.95 million on Monday.
Liquidated traders surged over the last 24 hours, suggesting deteriorating market conditions.At the time of writing, liquidated traders stood at 128,281 versus 40,592 on Monday morning.
According to Coinglass , one-hour liquidations stood at $161.66 million, up from $5.22 million on Monday.
Total Crypto Liquidations 190722 Daily News Highlights Bitcoin mining was in the spotlight, with US lawmakers pushing for more reporting.
The Dutch Central Bank fined Binance €3.3 million for offering services without being registered.
Coinbase got regulatory approval in Italy to provide ongoing crypto services.
Three Arrows Capital (3AC) reportedly owes creditors $3 billion, which includes $2.36 billion to Genesis.
The Paraguay Senate passed a bill to regulate crypto trading and mining.
This article was originally posted on FX Empire
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