Asia Morning Briefing: Bitcoin and Ether Hold Steady Ahead of CPI and China-U.S. Signals
Markets in Asia are trading cautiously as the U.S. government shutdown delays most economic releases and China signals restraint on export controls. Investors are eyeing Friday’s CPI report, the only major U.S. data unaffected by the shutdown.
Bitcoin (BTC) is trading near $108,164, slightly up from Monday but still down 2% for the week, while Ether (ETH) hovers around $3,815. QCP Capital describes the market as in “narrow-range equilibrium,” noting that a softer 0.2% CPI reading could support Bitcoin’s upside, while volatility is expected to remain elevated until the report.
Trade and policy: Polymarket assigns a 77% probability of a China-U.S. tariff deal by Nov. 10, while the odds of Trump’s 100% tariffs have dropped to 16%. Analysts suggest Trump is likely to pursue a symbolic deal over confrontation, reinforced by his weekend comment that the U.S. “wants to help China, not hurt it.”
Market snapshot:
- BTC: Consolidating above $108K, with a dip below $100K seen as a potential buying opportunity.
- ETH: Around $3,800 on 33% higher volume, though a $650M Ethereum Foundation transfer triggered $700M in profit-taking, leaving analysts divided between a breakout toward $5,000 or a slide to $2,850 if support at $3,470 fails.
- Gold: Futures down 0.3% to $4,097.80/oz after Tuesday’s 5.7% plunge, with central-bank buying and rate-cut expectations providing support.
- Nikkei 225: Japan’s index fell 1.5%, driven by renewed U.S.-China trade tension concerns.
