Asia Market Open: Bitcoin Holds Near $95K as AI Optimism Lifts Shares
Bitcoin steadied around $95,000 on Friday as traders weighed calmer macro conditions and renewed enthusiasm for AI stocks across Asia.
Asian equities pushed higher, hovering near record levels, with chipmakers back in the spotlight after strong earnings from Taiwan Semiconductor Manufacturing Co. revived interest in the AI trade. The mood was further supported by a new US-Taiwan trade deal that lowers tariffs on several Taiwanese exports and encourages investment in U.S. tech supply chains—news investors see as a positive for the semiconductor sector.
Overnight, Wall Street extended gains, led by tech and financial shares, suggesting that risk appetite remains intact even as expectations for rapid Federal Reserve rate cuts continue to moderate.
Market snapshot:
Bitcoin: $95,496, down 0.8%
Ether: $3,301, down 0.4%
XRP: $2.08, down 1.3%
Total crypto market cap: $3.31 trillion, down 0.3%
Bitcoin’s Evolving Role
According to Wenny Cai, co-founder of SynFutures, Bitcoin is shedding its old “high-beta” image from 2021.
“Trading firmly between $90,000 and $100,000, BTC is now functioning as a sophisticated macro hedge against central-bank volatility,” Cai said.
He added that Bitcoin’s stabilizing dominance around 57%–58% shows capital is flowing into “neutral reserve” assets outside the traditional credit-driven system.
Nikkei Slips as Yen Strengthens
In Japan, equities eased slightly, with the Nikkei down 0.42%, as the yen strengthened ahead of a possible snap election.
Currencies remained a key focus, with the dollar hovering near a six-week high after U.S. data—including lower jobless claims—prompted traders to scale back bets on near-term easing.
Commodities Cool
Oil prices, gold, and silver retreated as traders trimmed geopolitical risk premiums after President Donald Trump signaled a wait-and-see approach regarding unrest in Iran.
