Asia Market Open: Bitcoin Slides, Gold Hits Record, Yen Strengthens Amid Trade Tensions
Asian markets opened Monday with a mix of caution and safe-haven buying as investors digested global trade tensions and upcoming US policy decisions.
Bitcoin slipped below $88,000 to $87,781, down 1.3%, while Ether fell 2.6% to $2,867. The total crypto market cap eased 1.4% to $3.04 trillion, signaling some profit-taking after recent rallies.
Meanwhile, gold continued its meteoric rise, reaching a fresh record above $5,085 an ounce before trading around $5,072, up 1.79%. Analysts attribute the surge to safe-haven demand, expectations of easier US monetary policy, central bank buying, and ETF inflows. Prices have climbed more than 17% in 2026 after a 64% gain in 2025.
In equities, Chinese markets were mixed. The Shanghai Composite added 0.12%, and the China A50 gained 0.49%, while the SZSE Component fell 0.74%, and the DJ Shanghai slipped 0.09%. Hong Kong’s Hang Seng edged up just 0.04%.
Currency markets also saw sharp moves. The yen surged to a two-month high of 153.89 per dollar, gaining 1.2% amid speculation of coordinated US-Japan intervention. The euro rose to a four-month peak of $1.1898 as traders trimmed dollar positions ahead of the Federal Reserve meeting.
Trade headlines kept investors on edge. President Donald Trump stepped back from threats of Greenland-related tariffs but warned of 100% tariffs on Canada and 200% tariffs on French wines, adding uncertainty to global markets.
US futures were modestly lower as investors prepared for a busy week of Federal Reserve announcements and corporate earnings after last week’s volatility.
