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.
As Asia begins its trading day, BTC is down by 3% over the last 24 hours and changes hands to $ 113,000, while ether is also in the red, down, 5.6% down to $ 4,100, and extends a week’s weakness across majors.
The withdrawal comes despite a continued stream of bullish headlines that emphasize what market observers say is an extended gap between short -term price action and long -term structural progress.
In a recent report, the glass node frames the decline as a function of fragility: Spot-Momentum decreases, gearing is stretched, and the profit pressure is based. Although ETFs in US-notified spot features attracted nearly $ 900 million in influx last week, Glassnode warns that without renewed conviction in spot markets, positioning remains vulnerable to deeper degradation.
However, this view is not universal.
On the other hand, Enflux, a Singapore-based market manufacturer, argued in a recent note that was shared with Coindesk that the industry matures faster than prices suggest.
Weak price action is a short -term interruption, and dealers do not focus on the more important headlines: Google becomes the largest shareholder in miner terawulf, Wyoming launches a state -sponsored stableecoin and tied a former official
These shifts, they claim, show capital and talent that adapts to a regulatory, institutional future.
The divergence in tone tells. A camp sees fragile positioning and fading momentum; The other sees that scaffolding is added to an institutional, regulatory-adapted cycle. Prices may not look impressed, but the industry’s course suggests that the market matures faster than diagrams suggest.
Market Movers
BTC: Bitcoin dropped 3.2% to less than $ 114,000 when Cryptocurrencies and related shares extended losses ahead of Fed’s FOMC minutes and Powell’s Jackson Hole speech later this week.
ETH: Ether dropped 3.5% to less than $ 4,200, as investors are considering the likelihood of a September -fed rate, with Bank of America economists warning Powell can argue to keep the rates in the midst of sticky inflation and customs pressure.
Gold: Gold angled up to $ 3,384.70 and silver for $ 38,115 in quiet trade as the markets are waiting for Powell’s Jackson Hole speech on Friday at Fed’s political prospects, while global equities were mixed and China’s central bank injured $ 65 billion into stable bonds.
Nikkei 225: Japan’s Nikkei slipped 1.14% to 43,050.89 and withdrew from record highs as investors weigh risks tied to a fragile US trade agreement.
S&P 500: US equity futures were slightly changed on Tuesday night, with the S&P 500 flat, Dow Steady and Nasdaq 100 down 0.2%as investors waited for larger retail earnings and fed meeting minutes.
Other places in crypto
- Bullish’s $ 1.15B in IPO -Revenue was completely in stableecoins – a first for the public market (Coindesk)
- Who needs 280 Bitcoin -domain names? Massive btc -bundle goes up auction (decryptter)
- Robinhood Launch of Sports Investment Forward Markets on NFL and NCAA Football via Kalshi Partnership (The Block)
