Crypto Market Daily Highlights – DOGE Hits Reverse in a Mixed Session

The top 10 cryptocurrency exchanges had a choppy Thursday session. Dogecoin (DOGE), BNB, and XRP all found support as the price fell. BTC broke a four-day losing trend and continued to stay over $20,000.

US economic figures were below forecasts, supporting the cryptocurrency market.

The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5. The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.

The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims decreased from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.

The statistics supported the cryptocurrency market, while the NASDAQ Composite Index dropped by 1.73% as traders responded to Fed Chair Powell's comments.

The focus of today's late-day crypto market test will be the US employment data. Better-than-anticipated results would test consumer interest. The NASDAQ 100 Mini was down 12.75 points this morning.

Despite Weak US Economic Indicators, the Crypto Market Finds Support

The crypto market saw a bumpy day on Thursday, plunging to an early low of $944.0 billion and then recovering to a late-morning high of $974.4 billion. The market valuation for cryptocurrencies fell to $952.3 billion in the late morning, but before investors reacted to the ISM Non-Manufacturing PMI, the market cap rose to $966.1 billion before relaxing again.

The cryptocurrency market increased by $4.6 billion to close the day at $956.2 billion despite the late decline.