Asia Market Opening: Bitcoin Stays Above $87k as Shares Rise on Mixed US Jobs Report

Bitcoin experienced a rise of approximately 2% during Asian trading hours on Wednesday, holding steady above $87,000 as regional equity markets also showed slight gains. Traders are closely watching the upcoming US inflation report for indications on the Federal Reserve's potential interest rate adjustments in 2026.

Key Takeaways

Bitcoin trades at $87,274, reflecting a 1.9% increase.
Equity markets in Asia gained slightly after mixed signals from the US jobs report.
There is a possibility for Bitcoin to rise toward $90,000 if upward momentum continues.
Unemployment rates in the US rose to 4.6% amid slow growth concerns.
Japan's trade data shows promising export performance, influencing rate hike expectations.

Bitcoin

Bitcoin's Performance and Market Outlook

Bitcoin is currently priced at $87,274, with a rise of 1.9%. Ether stands at $2,948, up by 0.5%, while XRP is valued at $1.93, marking a 3.4% increase. The total cryptocurrency market cap now sits at $3.05 trillion, up 1.3%.

Tech Sector Boosts Investor Sentiment Ahead of CPI Data

On Wednesday, S&P 500 futures dipped by 0.1% as investors awaited the upcoming Consumer Price Index (CPI) report. The technology sector provided a positive influence, helping to restore some investor confidence. For instance, South Korea's KOSPI gained 0.6%, and Hong Kong's Hang Seng index increased by 0.3%. Major tech companies and the artificial intelligence sector drew buyers back into the market.

In Hong Kong, the excitement around robotic taxis helped boost shares, with companies like Pony AI and WeRide both rising over 3%. This follows a positive report from Tesla, where CEO Elon Musk stated that the company is testing autonomous robotaxis without human safety drivers.

On Wall Street, while the Nasdaq Index saw gains on Tuesday, both the S&P 500 and Dow Jones Industrial Average closed lower, primarily due to declines in the healthcare and energy sectors. Investors are processing delayed economic releases caused by a recent government shutdown, treating the data as useful indicators rather than conclusive.

Labor Market and Growth Concerns Persist

The Labor Department reported that nonfarm payrolls increased by 64,000 jobs in November after a prior decline in October due to government spending cuts. Meanwhile, the unemployment rate rose to 4.6%, with retail sales remaining flat in October, slightly below analysts' expectations.

Nic Puckrin, investment analyst and co-founder of Coin Bureau, noted that year-end tax-loss selling pressure could affect Bitcoin, as many investors are facing losses. This could potentially lead Bitcoin prices to drop below $80,000 if the sell-off intensifies. In the short term, he highlighted the $83,800 ETF cost basis level as critical, with further support expected around $81,200, which he identified as the market's true average.

Japanese Markets React to Trade Data Amid Rate Hike Speculations

In Greater China, the Shanghai Shenzhen CSI 300 rose by 0.5%, while the Shanghai Composite remained unchanged as investors await clearer fiscal support signals from Beijing following a series of disappointing November economic reports.

In contrast, Australia’s ASX 200 experienced a slight decline of 0.2%, and Singapore’s Straits Times index fell by 0.3%, although there was a positive note with reported increases in Singapore's non-oil exports for November.

Japan's Nikkei 225 increased by 0.3%, and the broader Topix Index gained 0.1% after trade figures exceeded expectations, signaling that international demand is bolstering growth as the year concludes. Traders are also keeping a lookout for the Bank of Japan's upcoming policy decision on Friday, with markets leaning toward a potential rate increase due to persistent inflation and a weak yen.

Finally, speculation around US interest rates intensified, especially after the Wall Street Journal announced that President Donald Trump would interview Fed Governor Christopher Waller for the chair position on Wednesday, further adding variables to an already uncertain economic landscape.