Asia Market Open: Bitcoin Steady Near $88K as Tech Loses Steam, Gold Gains
Bitcoin was holding steady around $88,500 early Thursday as Asian markets cooled after a strong tech run. Investors are balancing optimism around earnings with caution over global trade, central bank signals, and a fresh surge in gold.
In China, the Shanghai Composite rose 0.21% and the DJ Shanghai gained 0.22%, while the SZSE Component slipped 0.10% and the China A50 fell 0.20%. Hong Kong’s Hang Seng stood out with a jump of 1.22%.
Crypto snapshot:
Bitcoin: $88,527, down 0.7%
Ether: $2,990, down 0.6%
XRP: $1.89, down 0.1%
Total crypto market cap: $3.08 trillion, down 0.6%
Markets Caught Between Tech Hopes and Macro Uncertainty
Lukman Otunuga, senior market analyst at FXTM, says investors are being pulled in two directions.
“Optimism around global equities and major tech earnings is supporting risk appetite,” he said. “At the same time, trade uncertainty, sharp currency swings, and doubts around U.S. fiscal and monetary policy are keeping investors cautious. With the dollar still vulnerable and tech earnings dominating the S&P 500, the coming days could set the tone for risk sentiment well beyond this week.”
Meanwhile, gold and silver hit fresh all-time highs, reflecting continued interest in physical assets. Oil climbed to a four-month high after President Donald Trump warned Iran of potential consequences if a nuclear deal isn’t reached.
Powell Signals Steady Policy
In the U.S., the Federal Reserve kept interest rates on hold. Chair Jerome Powell described the economic outlook as “clearly improving” and said there was broad committee support for pausing rate changes. He also avoided questions about his post-May plans as Trump pushes for deeper rate cuts.
Markets reacted by pricing in a slimmer chance of further easing in April (26%), while June is now seen as the likely window for the next move (61%).
Earnings Drive the Equity Story
Corporate earnings continued to shape market sentiment. Samsung Electronics reported a surge in profits, boosted by AI-driven demand for chips. Investors also reacted to mixed results from Microsoft and Meta, while eyes now turn to Apple’s upcoming report.
Currency markets remain unsettled. The dollar is under pressure, despite Treasury Secretary Scott Bessent reaffirming the administration’s preference for a strong greenback. Meanwhile, European officials are watching the euro rise closely, warning that sharp moves could influence ECB rate decisions.
Crypto Stays Cautious
In crypto markets, trading remained tight. Thin ETF activity and softer derivative positioning kept Bitcoin range-bound, as traders look for clearer catalysts from equities, earnings, and policy signals.
In short, Bitcoin is steady, tech stocks are taking a breather, gold is climbing, and investors are watching every macro and corporate cue for direction.
