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.
Bitcoin stabilized in Asia on Thursday at $ 114,610 (+1.4%)scratching some land after the slide last week, while Ether exceeded 5.8% to $ 4,370.73 as investors selectively rotated throughout the market.
The Coindesk 20, a measure of the performance of the largest cryptographic assets, increases 3.5%, which quotes above 4,078.
The CEO of OKX Singapore, Gracie Lin, said in a note for COINDESK that the ETH/BTC ascending ancestry relationship shows that the capital changes to Ether’s relative force while Bitcoin is consolidated.
“Crypto Capital is becoming more selective,” Lin told Coindesk.
She emphasized that this is not a broad “Altse season”, but an objective movement towards ETH as macro catalysts such as the Jackson Hole conference and the inflation data loom in the United States.
Fresh Cryptoquant figures underline why Bitcoin’s rally has cooled. The apparent demand has decreased from 174,000 BTC in July to 59,000 BTC today, while ETF tickets have slowed their weakest since April, “the firm wrote in a recent report.
The profits remains heavy, and the whales realize $ 2 billion in profits only on August 16, which raises the profits made from July to $ 74 billion. Cryptocant analysts now classify the market as in a “bullish sideways” phase, with $ 110,000 marked as an important level of support.
In a note for Coendesk, Enflux analysts, a market manufacturer based in Singapore, said that retail enthusiasm for the Altseation season has decreased sharply compared to last week, even when strategic bets such as BNB reach the maximum of all time and Hyperliquid’s operational force continue to attract capital.
“This indicates that the Altcoin market is no longer a uniform beta trade, since the macro conviction is being formed, but more selective and concentrated, also on the institutional side,” said the firm.
The result is a market less defined by broad demonstrations and more by selective winners, with ETH establishing the tone as capital remains in cryptography, but moves with a more clear approach, favoring resilience on speculation.
Market motors
BTC: Bitcoin rose 1.4% just above $ 114,000, while US shares slipped, and Altcoins showed unusual resistance as BTC’s domain approaches a minimum of six months.
ETH: Ether beat Bitcoin, climbing 5.8% as merchants turned in specialties despite decelerating the demand of BTC.
Gold: UBS increased its gold target price to $ 3,600 per ounce in the first quarter of 2026, citing the strongest linges demand since 2011 driven by the macro risks of the US. UU., Desmarization and heavy ETF and the purchase of central banks.
S&P 500: The Nasdaq fell 0.68% and the S&P 500 fell 0.26% on Wednesday when investors turned technological actions in sectors such as energy, medical care and consumption staples before the Jackson Hole symposium of the Fed.
In another part of crypto
- Winklevos Twins launched $ 21 million for Republicans in the battles of the Congress next year (Coindesk)
- Cryptography companies urge the United Kingdom to form a national Stablecoin strategy to avoid being left behind (CNBC)
- The founder of Bitmex, forgiven by Trump, joins the fashion of longevity (Bloomberg)
