Bitcoin Jumps to $95K as Asian Markets Open Higher Despite Wall Street Dip
Bitcoin rallied nearly 5% to $95,232 on Wednesday, helping lift sentiment across crypto markets, while Asian equities opened modestly higher following a weaker session on Wall Street. Traders are weighing fresh policy risks in Washington alongside shifting risk appetite across global markets.
Crypto Finds Support Amid Geopolitical Tension
Akshat Siddhant, lead quant analyst at Mudrex, said rising tensions in the Middle East are pushing investors toward alternative safe havens like crypto, fueling the broader market rally.
“On-chain data also supports the positive momentum, with short-term holders moving back into profit. Historically, this eases selling pressure and can extend upside potential,” Siddhant noted.
He added that for Bitcoin to sustain its bullish run, it needs a firm daily and weekly close above the $92,000–$94,000 zone. Falling below that range could see BTC consolidate or test support near $88,000.
Asian Stocks Start the Day in Green
China’s major indices opened higher, with Shanghai up 0.89%, Shenzhen’s SZSE Component rising 1.54%, and the China A50 gaining 0.56%.
Hong Kong also saw gains, with the Hang Seng climbing 0.35%, extending a cautious uptrend as traders focused on interest rates, risk appetite, and cross-asset flows that often spill into crypto.
Market Snapshot
Bitcoin: $95,325, up 4.4%
Ether: $3,321, up 6.7%
XRP: $2.17, up 5.6%
Total crypto market cap: $3.33 trillion, up 4.5%
Saylor’s Bitcoin Buy Boosts Sentiment
Part of Bitcoin’s rally followed corporate buying. Michael Saylor’s Strategy disclosed an additional purchase of 13,627 BTC worth roughly $1.25B at an average price around $91,500 per coin between January 5–11. This helped steady sentiment and attract fresh inflows, pushing BTC through the $94,000–$95,000 resistance that had capped it for weeks.
Japan Firms Gain on Yen Weakness
Japan’s equities remained firm, with the Nikkei 225 up 0.9%, supported by a yen that weakened to its softest level since July 2024. The weaker currency boosted exporters and regional risk appetite.
Wall Street Pullback and Policy Risks
In the U.S., stocks fell overnight. Financials led declines after JPMorgan warned that former President Trump’s proposed 10% cap on credit card interest rates could hurt the economy and squeeze bank profits. The Dow fell 0.8%, the S&P 500 slipped 0.19%, and the Nasdaq eased 0.10%.
Notable movers included Visa (-4.5%), Mastercard (-3.8%), and JPMorgan (-4.2%), even after posting stronger-than-expected quarterly profits.
Outside equities, oil surged on geopolitical concerns, gold climbed to new highs, and inflation data matched expectations, keeping some rate cut bets alive even as markets recalibrated risk.
