Asia Morning Briefing: Cooling BTC Pushing Up Altcoin Volumes

1 day ago

Good Morning, Asia. Here's what's making quality successful the markets:

Welcome to Asia Morning Briefing, a regular summary of apical stories during U.S. hours and an overview of marketplace moves and analysis. For a elaborate overview of U.S. markets, spot CoinDesk's Crypto Daybook Americas.

Bitcoin (BTC) is trading supra $105K arsenic Asia begins its concern day, down 1%.

In a note, Paris-based integer assets trading steadfast Flowdesk wrote that the world's largest integer plus was moving into a tactical posture with terms consolidation.

"As BTC consolidates adjacent all-time highs, altcoin volumes and liquidity person seen a continued meaningful displacement upwards," Flowdesk wrote.

Flowdesk notes that Bitcoin's volatility continues to diminution contempt looming macroeconomic events that typically shingle up markets.

With BTC consolidating adjacent its all-time high, there's a noticeable emergence successful telephone overwriting, Flowdesk observed, arsenic traders question to monetize imaginable upside without giving up halfway bitcoin exposure.

"The altcoin rotation continues, ETF inflows are back, and vol positioning reflects a modulation to much tactical, yield-generating strategies," Flowdesk concluded.

Meanwhile, CoinDesk's Market Insight bot reported that BTC faces downside risks aft hitting beardown absorption adjacent $108.8K, but ongoing organization involvement whitethorn supply support.

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House Republicans Unveil New Crypto Bill Giving CFTC Key Oversight Role

U.S. House Republicans officially introduced the Digital Asset Market Clarity Act, CoinDesk reported Thursday U.S. time, their latest propulsion to modulate crypto markets.

This 236-page bill, a successor to the earlier FIT21 Act, gives the Commodity Futures Trading Commission superior oversight of integer commodity markets, establishes wide guidelines for crypto exchanges, and exempts definite decentralized concern (DeFi) services from Securities and Exchange Commission (SEC) oversight.

Flowing parallel to this, the Senate remains focused connected abstracted bipartisan stablecoin legislation, which is further on procedurally but faces ongoing debate. With committee hearings scheduled for adjacent week, lawmakers volition publically sermon the caller House bill, mounting the signifier for negotiations that could signifier U.S. crypto regularisation this session.

'Crypto Mom' Peirce Says Traders Need to Take Personal Responsibility

Hester Peirce, main of the U.S. Securities and Exchange Commission's crypto task force, urged crypto investors astatine Bitcoin 2025 to instrumentality idiosyncratic work for their losses alternatively than question authorities bailouts, CoinDesk reported Thursday from BTC Vegas.

Peirce emphasized consistency among libertarian-minded crypto traders, arguing that those who request state indispensable besides judge accountability for their fiscal outcomes, peculiarly erstwhile engaging successful speculative ventures similar memecoins.

Peirce highlighted ongoing efforts nether Republican enactment to clarify the SEC's jurisdiction, stating that astir crypto tokens aren't securities and frankincense don't necessitate SEC registration unless they are explicitly progressive with securities. She remained neutral connected companies holding integer assets connected their equilibrium sheets, provided due disclosure. Despite the existent strides successful policymaking astatine the SEC, Peirce noted that establishing a national crypto regulator for retail trading would necessitate wide legislative enactment from Congress.

Blockchain Founders Fund Surpasses 200 Investments

Blockchain Founders Fund (BFF), a Singapore-based task superior steadfast focused connected early-stage Web3 and blockchain startups, is acceptable to denote Friday astatine Web Summit successful Vancouver that it has surpassed 200 investments crossed much than 160 companies.

Founded successful 2018, the steadfast is known for supporting projects specified arsenic Shardeum, an Ethereum-compatible blockchain level utilizing dynamic authorities sharding, and Validation Cloud, an infrastructure institution merging accepted enterprises with blockchain and AI technologies.

The money announced successful October that it had deed the 150 people for investments.

Market Movements:

BTC: Bitcoin is trading astatine $105,713 arsenic Asia begins its concern day, having fluctuated betwixt $105,682 and $108,927 implicit the past 24 hours, encountering absorption adjacent the precocious scope and signaling imaginable bearish momentum.
ETH: Ethereum is up 6%, peaking astatine $2,784 earlier stabilizing adjacent $2,650, arsenic beardown trading volumes and organization optimism outweigh broader economical uncertainties.
Gold: Gold is up 0.4%, trading astatine $3,311, arsenic the U.S. system shrunk 0.2% connected weaker spending, tariff impacts.
Nikei 225: Japan's Nikkei 225 dropped 1.55% arsenic Asia-Pacific markets fell Friday amid U.S. economical slowdown, ostentation concerns
S&P 500: The S&P 500 closed up 0.4% astatine 5,912.17 Thursday, boosted by Nvidia but restrained by capitalist caution amid developments surrounding Trump's "reciprocal" tariffs.