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24 Hour Crypto Recap: Market Overview
The global crypto market cap fell 1.8% to $2.542 trillion over the past 24 hours. Bitcoin traded at $73,666.33, down 1.9% on the day and down 4.3% over the past week. Ethereum traded at $2,059.51, down 3.2% in 24 hours and 9.1% over seven days. BNB slipped 1.3% to $681.80, down 1.6% weekly. XRP fell 3.9% to $1.06, down 15.7% over the week. CoinGlass data showed $382 million in liquidations over 24 hours, with longs at $295 million and shorts at $87.3946 million. Bitcoin led trending searches, down 1.8% to $73,671.44. Zcash fell 11.7% to $1,027.97 after briefly dropping below $1,000 on OKX, and Solana slipped 3.4% to $83.30. Among top gainers, aelf jumped 73.6% to $0.07145, Initia rose 42.6% to $0.291, and ResearchCoin climbed 40.9% to $0.05379. US October CPI rose 0.4% month over month, against expectations of 0.3%. Core CPI rose 0.3%, against an expected 0.2%. CME FedWatch puts the odds of a 25 basis point hike in December at 88.5% and of a 50 basis point move at 11.5%. Fed Governor Christopher Waller said he would back a one-time 50 basis point hike if inflation keeps accelerating. The two-year Treasury yield then rose as much as 21 basis points to 4.77%. Dallas Fed President Lorie Logan said the Fed needs at least two more 25 basis point hikes. Deutsche Bank now expects increases in December, January and March. CryptoQuant said its bull market score dropped from 90 to 20. The firm said Bitcoin has fallen below its 365-day moving average of $76,400 and named $73,200 as key support. Bitcoin is down about 16% this year, while the S&P 500 is up about 10%. Glassnode said public keys for 35.4% of Bitcoin’s supply, or 7.12 million BTC, are already exposed on-chain, which could make those coins a target for future quantum attacks.