Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
As East of Asia begins its negotiation day, BTC is quoted at $ 116,263, 1.1% less in the day and 2% lower in the week, according to Coindesk market data, while ETH is at $ 4,322, of 3.8% in the last 24 hours, but even more than 2.6% weekly.
He COINDESK 20 (CD20)An index that tracks the largest cryptographic assets, has dropped 2.4%.
Polymarket’s chances suggest that merchants are preparing for weakness until the end of August. The most probable result for BTC is now a closure of less than $ 111,000 with a 34%probability, while the largest ETH weighting scenario is an end of about $ 4,800 to 43%.
Enfux, a market manufacturer based in Singapore, said the market is being removed in two addresses.
“The market remains caught between a strong underlying institutional conviction, highlighted by the additional change of purchase of 430 BTC and structural financing of Strategy Inc., and the lack of immediate retail monitoring,” he wrote in a note to COINDESK.
EnFlux pointed out the Bitcoin’s goal of Vaneck’s end of the year of $ 180,000 as evidence that institutions are positioning for the continuation, even when the narratives favored by retail trade such as XRP and Doge have been limited by the delays of the SEC in ETF approval.
Solana is still an exception, Enfrux wrote, with “quiet force” of his domain in the transfers of USDC and the part of Pumpfun in the new tokens emission.
Even so, derivative positioning shows caution.
QCP reported in a recent market update that perpetual financing rates became negative during the weekend, a configuration that preceded the previous setbacks, and the biased options now favor the maturities.
The result is a market that seems structurally supported in the upper but tactically defensive in the Jackson Hole Symposium on Thursday, where Fed President Jerome Powell is expected to address the policy under the weight of a higher inflation than expected and a white house that continues to challenge the neutrality of the Fed.
With the interest of searching for cryptography in a maximum of four years and the Genius law sailing through Washington, and now in the hands of regulators, the basis of a broader demonstration is still being built.
But for now, prediction markets and price action suggest that the conviction is concentrated in the upper part, while the flows remain selective.
Market movements
BTC: Bitcoin increased between $ 114,993 and $ 117,620 on August 18, with volumes well above the average as the merchants digested the clarification of Treasury Secretary Scott Besent that strategic reserves would be filled through neutral budget acquisition Jerome Powell was in the case of keeping the rates instead of the rates.
ETH: Ethereum fell 3% to $ 4,330.61 on August 18 in the midst of great volatility and repeated resistance near the maximum records, even when the US ETFs generated $ 3.71 billion inputs in marked contrast with continuous retail sale.
Gold: The gold signed about $ 3,333– $ 3,394 per ounce on Monday, increasing to the early trade of the US broader geopolitics that are in the demand for the demand for refuge.
Nikkei 225: Asia-Pacific’s actions slid mostly on Tuesday ahead of the White House conversations between Trump, Zelenskyy and European leaders, although Japan Nikkeii 225 increased 0.1% and the Topix was flat.
S&P 500: The US actions changed little on Monday, since the summer rally showed signs of fatigue before the minutes of the Fed, the main retail profits and Jackson Hole’s speech by Jerome Powell at the end of this week.
In another part of crypto
- The United States Treasury Department begins to work in genius, collecting views on illicit activity (Cindenesk)
- After attacking Monero, Qubic looks at Dogecoin, here is why (Decipher)
- Michael Saylor facilitates the sales limits of shares such as Bitcoin Premium Falls (Bloomberg)
