Asia Market Open: Bitcoin Dips as Asian Stocks Continue Their Correction from Recent Highs

Bitcoin

Summary:
In early Asian trading on Thursday, Bitcoin dipped towards $90,000 as the rally in regional equity markets softened for a second consecutive session. This shift occurred as traders began focusing on data risks and geopolitical issues influencing the market.

Key Takeaways:

Bitcoin's price fell to $90,975, down 2.1%.
Asian equity markets are experiencing a pullback, with Japan’s Nikkei dropping 1.1% and Hong Kong’s Hang Seng decreasing by 1.3%.
Wall Street showed mixed results as job data affected investor sentiment ahead of major reports.
Bitcoin received strong ETF demand despite external geopolitical tensions, particularly regarding Venezuela.

Bitcoin and Market Overview

Bitcoin traded at $90,975, representing a decrease of 2.1%. Ether fell by 3.4% to $3,160, while XRP dropped 4.5%, reaching $2.17. The overall cryptocurrency market cap is now at $3.20 trillion, down by 1.9%.

Wall Street Faces Mixed Signals Amid Soft Labor Data

In the U.S., market conditions were shaky. On Wednesday, Wall Street had a mixed response as investors processed disappointing job market signals just ahead of Friday’s nonfarm payrolls report. Traders were also keeping an eye on developments in Venezuela and other policies stemming from President Trump's administration.

Bond markets maintained steadiness, while the dollar experienced a slight decline as investors debated whether the cooling labor indicators would influence the Federal Reserve’s decision on interest rate cuts later in the year.

Cryptocurrency Resilience Amidst Geopolitical Tensions

Crypto traders remained focused on market movements and positions beyond the geopolitical situation in Venezuela. Analysts from Bitfinex stated on X, “Flows and access are still moving in Bitcoin’s favor. US spot ETFs recorded over $1.1 billion in net inflows within the first two trading days of the year. Additionally, Morgan Stanley filed for a Bitcoin trust, and MSCI kept crypto-treasury companies in its indices, aiding in the maintenance of passive exposure.”

According to these analysts, “Meanwhile, the S&P 500 is reaching new peaks, metal prices are nearing record highs, and US gasoline prices are at multi-year lows, alleviating some inflationary pressures. As 2026 begins, trading volumes are higher, but the macroeconomic environment remains supportive of risk.”

Ongoing Geopolitical Developments

Geopolitical issues continue to shape market sentiment beyond Venezuela. China has intensified its stance against Japan by prohibiting exports of dual-use items intended for military purposes, escalating tensions between the two leading Asian economies.

Looking ahead, the calendar is pivotal. Investors are bracing for Friday’s employment report and a US Supreme Court decision relating to Trump’s global tariffs, both of which carry significant potential for impacting rates, equities, and cryptocurrencies all in a single trading session.