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Market News Crypto Market Daily Highlights – ADA and BNB Lead a Top Ten Surge

Crypto Market Daily Highlights – ADA and BNB Lead a Top Ten Surge

The cryptocurrency market had a strong Sunday, rising beyond $800 billion for the first time since December 15. Support for Fed policy attitude has been received.

Cory Russell

2023-01-09

11421

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On Sunday, the top 10 cryptocurrencies saw a positive day, with ADA and BNB setting the pace. For the first time since December 15, BTC also found support, finishing the day above $17,000.

An upbeat week was capped off by a bullish close on Sunday after a range-bound Saturday session as Asian markets continued to react positively to Friday's ISM Non-Manufacturing PMI survey and the US employment data.

Though the ISM Manufacturing and Non-Manufacturing PMIs indicated a US economic recession, late support came from expectations of a gentle landing. Bets on the Fed raising interest rates by 50 basis points in February have fallen, allaying concerns about a harsh landing. No crypto-related events existed to support the late rise.

There are no economic data for investors to take into account today since it is a quiet day on the US economic calendar. The NASDAQ Index and any comments made by FOMC members, however, are expected to have an impact during the afternoon session. The NASDAQ mini gained 14.25 points this morning.

Investors should keep an eye on the cryptocurrency news channels for developments on the SEC v. Ripple case, Huobi Global News, and the continuing Binance US investigations.