Asia Market Open: Bitcoin Slips As Stocks Cheer US Growth, Gold At All-Time High

Bitcoin eased in early Asian trading on Wednesday as stocks opened higher on Wall Street momentum after data showed the US economy grew at its fastest pace in two years.

The S&P 500 closed at a record on Tuesday after an upward revision to third-quarter GDP showed annualised growth of 4.3%, a report that also pushed bond yields higher and kept growth stocks in demand.

In crypto, Bitfinex analysts said Bitcoin has bounced decisively from the low $80,000 support zone identified earlier.

“However, the recovery now faces a substantial headwind in the form of a dense overhead supply cluster accumulated by top buyers between $94,000 and $120,000,” they added.

“This concentration of supply has created a distinctly top-heavy market structure, where rebound attempts are increasingly capped by sell pressure. This dynamic is reminiscent of early 2022, when recoveries during the initial stages of a bearish phase repeatedly failed to gain traction.”

MSCI’s regional gauge of Asia Pacific stocks extended gains into a fourth straight session, rising about 0.2% at the open. Japan and South Korea advanced, while Australian shares edged lower in a shortened session.

Market snapshot

• Bitcoin: $87,341, down 1.5%
• Ether: $2,943, down 2.3%
• XRP: $1.86, down 2.1%
• Total crypto market cap: $3.03 trillion, down 1%

Geopolitics And Rate Bets Propel Gold To New Highs

Gold grabbed the spotlight, surging past $4,500 an ounce for the first time as safe-haven demand built on geopolitical tension and traders kept pricing in the prospect of lower US rates next year.

The metal’s run comes as Washington ramps up pressure on Venezuelan oil flows, with President Donald Trump’s blockade keeping shipowners on alert and feeding wider risk hedging across markets.

Fed Leadership Uncertainty Keeps Markets On Edge

On the policy front, Trump has also kept markets guessing about the next Federal Reserve chair, repeating that he wants a rate cutter in place as he nears an announcement.

In Asia, investors tracked signals out of Beijing and New Delhi, where the Reserve Bank of India moved to ease tight conditions with fresh liquidity measures that include bond purchases and a dollar rupee swap.

Trade remained part of the backdrop, after the Trump administration said it would delay new tariffs on Chinese semiconductor imports until mid-2027, a move that signalled a preference for leverage and runway over an immediate escalation.