Bitcoin Stalls at $88k While Asian Stocks Ride Wall Street’s Momentum
Bitcoin's price action hits a wall just shy of $88,000, as traditional markets in Asia catch the wave from a bullish Wall Street session.
Digital Gold vs. Paper Gains
The flagship cryptocurrency's pause contrasts sharply with regional equity indices charging higher. It's a classic divergence play—where one asset class catches its breath, another sprints ahead on borrowed momentum.
The Liquidity Tango
Global capital flows remain the invisible conductor. Positive sentiment from U.S. trading floors often fuels the opening bell in Tokyo, Hong Kong, and Sydney, creating a familiar, if predictable, pattern of follow-through. Meanwhile, crypto markets, operating 24/7, digest their own set of macro and micro pressures.
A Tale of Two Markets
Watch the correlation—or lack thereof. When traditional risk assets rally and Bitcoin doesn't, it signals traders are parsing different narratives. Is this decoupling or just a temporary pit stop on crypto's longer road? The $88,000 level now acts as a key technical and psychological battleground.
Remember, in finance, yesterday's Wall Street rally is often just fodder for tomorrow's Asian open—and sometimes, the most innovative asset in the room chooses to sit the dance out. For now.
Market snapshot
- Bitcoin: $88,006, down 0.6%
- Ether: $2,987, down 0.8%
- XRP: $1.89, down 1.6%
- Total crypto market cap: $3.06 trillion, down 0.9%
Slow Disinflation Keeps Fed On Hold
Linh Tran, a market analyst at XS.com, said the policy stance of the US Federal Reserve still sets the short to medium-term rhythm for Bitcoin.
“Although US inflation has eased from its peak (with CPI y/y at 2.7% released last week), recent data indicate that the disinflation process is progressing slowly and unevenly,” she said.
“This has forced the Fed to maintain a cautious stance, making it difficult to pivot quickly toward an aggressive easing cycle.” She added that exchange reserves remain relatively low, a sign many holders still prefer to sit tight, though short-term moves keep tracking liquidity and sentiment.
Metals Break Records On Safe Haven Demand
Equities drew support from heavyweight tech names and a broader bid for risk, with Reuters pointing to gains in stocks such as Nvidia during the US session and firmer index futures in Asia.
Macro traders also looked ahead to US third-quarter GDP data, which markets expected to show annualized growth around 3.3%, after some releases faced disruption from a recent government shutdown.
In commodities, Gold pushed through $4,400 an ounce and silver hit new peaks, as traders priced in a friendlier rate path and reached for hedges into the holidays.
Geopolitics added fuel, with reports around President Donald Trump’s Venezuela pressure campaign and US interdictions of tankers tightening the backdrop for energy and safe-haven trades.
