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 organized a strong recovery during the past week, bouncing a fall below $ 114,000 to operate about $ 121,000, in what Glassnode described in a recent report as a change of “depletion of the seller to a strong rebound near recent ATHS.”
However, the rally occurred without an increase in the participation of the spot market.
Glassnode data shows that timely trade volumes fell 22% to $ 5.7 billion, near its low statistical band, suggesting that the rebound has been more driven by the positioning changes than the deep purchases of convictions. The cumulative volume of Delta overturned 94% for the purchase pressure, a sign that the aggressive sale has been replaced by a renewed demand, but not yet in a large merchant base.
On the derivatives side, leverage merchants participated aggressively again, Glassnode detailed in their report.
The delta of the perpetual cumulative volume, a measure of the purchase-sale pressure in Pers, increased 88%, the financing rates remained high and the open options increased by 6.7% to $ 42.4 billion. However, the volatility price collapsed in almost a third, indicating a degree of complacency that has historically preceded great market movements.
The ETF flows offered some relief, with the ETF departures of Bitcoin Spot that are quoted in the United States to half of $ 311 million from $ 686 million the previous week. Even so, ETF’s volume of trade fell 27.7% to $ 13.7 billion, maintaining the activity near its low band.
QCP Capital framed the weekend, which briefly pushed BTC above $ 122,000, depending on the books of thin purposes and a broader risk change in global markets.
“Crypto organized an impressive return over the weekend during the thin negotiation hours of low liquidity,” wrote the commercial firm based in Singapore, noting that the rebound was aligned with a rebound in the actions of the USA. UU. And the growing expectations for a feat cut of the September Fed fees.
Although the activity in the chain improved, the active addresses increased 8.4% to 793,000, and the volume of rates increased by 10%. Glassnode warned that high levels of profitability could quickly become the sale pressure if the feeling changes. With 94.1% of the gain offer and the loss ratio made to 1.9, the market may be reaching a point where the profits accelerate.
The combination of thin liquidity, positioning of bullish derivatives and macro optimism driven by macro leaves Bitcoin prepared for volatile movements as it approaches the maximums of all time, and the next test probably comes from the launch of the IPC of the United States on Tuesday.
Polymarket operators are inclined towards a modest increase in line with the consensus that BTC would probably maintain consolidating, with hotter impressions that pose a wind against the short term by delaying fed cuts and the softest readings that offer a possible rupture catalyst if the ETF flows and the punctual activity are referred to.
Market movements
BTC: Bitcoin is quoted at $ 118K as merchants withdraw and position themselves for the possibility that Tuesday’s IPC report can break the BTC impulse.
ETH: Ethereum is quoted at $ 4200. Analysts say that the ETH rally is partly due to the increase in chain capacity and the lower Defi costs.
Gold: Gold slid at $ 3,355.13 as a feeling of optimistic risk and Trump’s promise to exclude the gold from the tariffs weighed on the demand for safe refuge, although the losses were padded by the increase in bets of the fees of the Fed Fedes in front of the inflation data of the United States this week.
Nikkei 225: Asia-Pacific markets increased on Tuesday, with Japan Nikkei 225 reaching a record record after the commercial truce between the United States and China was extended, while investors waited for the expected rate cut of the Bank of the Australian Reserve Bank.
S&P 500: US actions decreased, with the S&P 500 less than 0.2% and just under their record, as investors expect new inflation data. Meanwhile, Citigroup and UBS raised their S&P 500 goals at the end of the year, citing the risks of relief policies and solid profits, with Citi raising their prognosis at 6,600 and UBS at 6,100.
In another part of crypto
- Jeff Bezos’ blue origin now accepts Bitcoin, Ethereum and Solana for space flights (Decipher)
- Rumble profits in plans to acquire northern data affiliated with tether (Cindenesk)
- Banking Committee of the Senate Democratic Senate Slam Gop Crypto Draft Projector as ‘Overpiece’ to dodge regulation (The block)
