Asia Morning Briefing: Bitcoin Slips Below $110K as Rally Momentum Wanes, CPI and Trade Talks Loom
Bitcoin dipped back below $110,000 in early Tuesday Asia trading, signaling a pause in its recent bullish streak. After touching $110,169 on Monday—its highest since late May—the cryptocurrency has cooled to around $109,300 amid thinning volumes and muted follow-through.
The stall comes as traders weigh macroeconomic headwinds, including the upcoming U.S. Consumer Price Index data and the ongoing trade dialogue between Washington and Beijing. Both are seen as key catalysts that could define Bitcoin’s short-term trajectory.
“The market’s still leaning bullish, but the tempo has slowed,” said analysts at QCP Capital. “Volatility is at year-to-date lows, and unless we see a decisive break, BTC may chop between $107K and $111K.”
The short squeeze that fueled Bitcoin’s breakout over the weekend triggered over $330 million in liquidations—its largest single-day total in nearly a month—but on-chain indicators now suggest long-term holders are distributing into strength.
Ethereum held steady near $2,580, supported by a steady rise in institutional staking flows. Other major altcoins like SUI and Hyperliquid maintained recent gains, each posting 24-hour increases of 4–6%.
Meanwhile, Asia’s equity markets opened cautiously higher. The Hang Seng Index held near 24,000, lifted by trade optimism, while Japan’s Nikkei saw modest gains. Gold traded flat near $3,314, with investors seeking clarity from macro data due midweek.
Market Snapshot:
- BTC: $109,295 ▼ 0.8% – Trading sideways after weekend rally fades.
- ETH: $2,584 ▲ 0.3% – Institutional staking continues to support sentiment.
- Gold: $3,314.11 — Flat as traders await CPI clarity.
- Hang Seng Index: +0.9% to 24,019 – Highest since March on trade talk optimism.
- Upcoming Risk Events: U.S. CPI (Wed), Treasury auction (Thurs), China stimulus talk.
