Bitcoin Eyes $96K as Asian Markets Open: Crypto Defies Wall Street Tech Rout

Bitcoin pushes higher while traditional tech stocks stumble—the decoupling narrative gets a fresh data point.

The Crypto Resilience Play

Forget the Nasdaq's hangover. As Asia's trading desks flicker to life, all eyes are on the $96,000 zone. Bitcoin's grinding ascent continues, seemingly indifferent to the sell-off in big tech shares stateside. It's a stark reminder: digital asset flows are writing their own rulebook, one that increasingly bypasses legacy market sentiment.

Mixed Signals from Regional Bourses

Asian equities are painting a fragmented picture—no unified direction here. Some indices are attempting to find a floor after the Wall Street slide, while others are drifting. The divergence highlights the localized nature of traditional equity drivers right now: central bank whispers, currency moves, and the occasional corporate earnings surprise (or disappointment).

The Real Story? Liquidity Finds Its Corner

The takeaway isn't just about price. It's about where smart, or perhaps just impatient, capital is parking itself. While fund managers rebalance their tech-heavy portfolios and debate P/E ratios, a significant slice of the market is voting with its wallet for a different kind of asset entirely. One that operates 24/7, answers to no CEO, and treats a 5% dip as a buying opportunity. Call it a hedge, a gamble, or the future—but you can't call it boring.

So, while traditional finance frets over quarterly guidance and Fed minutes, crypto just keeps building. Another day, another resistance level in sight. The old guards are checking their watches; the new market is checking the blockchain. Funny how the 'risky' asset suddenly looks like the steady hand—at least for this morning's session. A classic case of the tail wagging the dog, or perhaps the dog finally learning a new trick.

Market snapshot

• Bitcoin: $96,177, up 0.8%
• Ether: $3,310, down 0.2%
• XRP: $2.10, up 0.2%
• Total crypto market cap: $3.34 trillion, down 0.3%

Open Interest Drop Signals Crypto Market Reset

Crypto traders also kept one eye on positioning. Analysts said bitcoin open interest has dropped more than 31% from its 2025 peak and has steadied around $10B, a deleveraging phase that followed heavy liquidations as spot trading stayed active, with volumes nearing $60B.

Bitcoin open interest plunges 31% as market deleveraging creates potential bottom formation with analysts targeting $105,000 breakout zone.#Bitcoin #OpenInteresthttps://t.co/jqikXXzthT

Some desks see the reset as constructive, especially if price holds. The MOVE higher reflects a firmer risk on tone tied to stable US inflation and a resilient job market, creating what QCP describes as a “Goldilocks environment” where investors are piling into everything from stocks to precious metals and now crypto.

Lukman Otunuga, a senior market analyst at FXTM, said investor sentiment is being tugged in different directions as geopolitical risks, trade policy uncertainty and worries about central bank independence weigh on markets.

“While risk assets remain fragile, SAFE havens like gold and silver continue to shine,” he said. “With key legal and political decisions looming, volatility is likely to remain elevated, creating both risks and opportunities for traders in the week ahead.”

Macro And Political Risks Continue To Steer Markets

Oil helped set the tone for cross-asset trading. Prices fell for the first time in six days after President Donald TRUMP signaled he may hold off on attacking Iran for now, and traders trimmed some of the geopolitical premium that had built into crude.

Gold and silver also cooled after pushing to record highs in the prior session, as traders took stock of the latest headlines and shifted back toward risk assets in parts of the market.

Policy uncertainty stayed in the background. The US Supreme Court did not issue a ruling on challenges to Trump’s global tariffs on Wednesday, leaving markets waiting until at least next week for clarity on one of the administration’s signature economic policies.

FX traders in Asia also watched South Korea’s won after US Treasury Secretary Scott Bessent said the currency’s slide did not match the country’s fundamentals, comments that offered rare verbal support as volatility picked up.

Japan’s politics remained a live variable too. Reports and subsequent confirmation that Prime Minister Sanae Takaichi plans a snap election have kept the yen under pressure at points, and that currency swing has fed into daily moves in Japanese equities.