Good morning, Asia. Here’s what makes news in the markets:
Welcome to Asia Morning Briefing, a daily overview of top stories during the US HOURS and an overview of market movements and analysis. For a detailed overview of US markets, see Coindesk’s Crypto Doybook Americas.
Bitcoin stabilized in Asia Thursday to $ 114,610 (+1.4%)Itched some reason after last week’s slide, while ether surpassed with a 5.8% jump to $ 4,370.73 as investors rotated selectively across the market.
Coindesk 20, a measure of the performance of the largest crypto assets, has risen 3.5%and trades over 4,078.
Okx Singapore CEO Gracie Lin said in a note to Coindesk that the rising ETH/BTC ratio shows capital shifts to Ether’s relative strength while Bitcoin consolidates.
“Crypto Capital becomes more selective,” Lin told Coindesk.
She emphasized that this is not a broad “altar season,” but a targeted movement into ETH as macro -catalysts such as Jackson Hole Conference and US Inflation Data Loom.
Fresh figures from Kryptoquant emphasize why Bitcoin’s Rally has cooled. Apparently demand has fallen from 174,000 BTC in July to 59,000 BTC today, while ETF flow has subsided to their weakest since April, “the company wrote in a recent report.
Profit tags remain heavy, with whales realizing $ 2 billion dollars in gains on August 16 alone, bringing the total realized profit since July to $ 74 billion. Cryptoquant analysts are now classifying the market as in a “Bullish Cooldown” phase, with $ 110,000 marked as an important level of support.
In a note to Coindesk, analysts at Enflux, a Singapore-based market manufacturer, noticed that retail enthusiasm for the altar season has dropped sharply compared to last week, even when strategic efforts such as BNB hit the heights of all time and hyperliquid’s operational strength continue to draw capital.
“This indicates that the ALTCOIN market is no longer a uniform beta trade, as macro -assignment is formed, but more selective and concentrated, also on the institutional side,” the company said.
The result is a market that is less defined by broad events and more of selective winners, with ETH that puts the tone as capital remain in crypto but moves with sharper focus, which favors resistance to speculation.
Market Movers
BTC: Bitcoin rose 1.4% to just over $ 114,000, while US stocks slipped, and Altcoins showed unusual resilience as BTC dominance is approaching a six-month low.
ETH: Ether surpassed Bitcoin and climbed 5.8%as dealers rotated to majors despite slowing down the BTC demand.
Gold: UBS raised his gold price target to $ 3,600 per Ounce in Q1 2026 with reference to the strongest demand for gold since 2011, driven by American macro risks, de-dollarization and heavy ETF and Central Bank’s purchases.
S&P 500: Nasdaq fell 0.68% and the S&P 500 slipped 0.26% on Wednesday as investors rotated out of tech shares in sectors such as energy, healthcare and consumer adhesives in front of Fed’s Jackson Hole Symposium.
Other places in crypto
- Winklevoss twins pay tribute to $ 21 million. Against Republicans in next year’s Congress (Coindesk)
- Crypto -Firmaers urge the UK to form the National StableCOin strategy to avoid falling behind us (CNBC)
- Bitmex founder, pardoned by Trump, joins Longevity-Hacking Man (Bloomberg)
