Asia Market Open: Bitcoin Stalls At $88k As Asian Stocks Ride Wall Street Momentum
Bitcoin steadied near $88,000 in early Asian trading on Tuesday as equities pushed higher into the year-end, with traders leaning on risk appetite while gold and silver powered to fresh records on rate cut bets and geopolitical tension.
A broad MSCI gauge of Asia Pacific shares rose about 0.31% as the mood carried over from Wall Street, where late-week buying revived talk of a year-end rally.
Crypto moved in step with that calmer tone rather than leading it, with Bitcoin trading around $88,680, up about 0.4% on the day, based on CoinGecko data.
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.
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