Asia Market Open: Bitcoin Softens As Asian Stocks Extend Pullback From Records

Bitcoin slipped toward $90,000 in early Asian trading on Thursday as the region’s equity rally cooled for a second session and traders shifted back to a familiar mix of data risk and geopolitics.

The risk reset came through energy first. Oil prices fell sharply after President Donald Trump confirmed Venezuela would supply up to 50M barrels of crude under a new arrangement following the weekend upheaval, a headline that markets read as a potential pressure valve on global prices over time.

Asian shares took a step back as that narrative sank in. Japan’s Nikkei slid 1.1% and Hong Kong’s Hang Seng dropped 1.3%, while Australia’s ASX 200 edged 0.2% higher, helped by commodity exposure.

Market snapshot

• Bitcoin: $90,975 down 2.1%
• Ether: $3,160, down 3.4%
• XRP: $2.17, down 4.5%
• Total crypto market cap: $3.20 trillion, down 1.9%

Wall Street Stumbles As Softer Jobs Data Tests Risk Appetite

US markets handed over a shakier lead. On Wednesday, Wall Street turned mixed as investors digested softer labour signals ahead of Friday’s nonfarm payrolls report, with traders also tracking the Venezuela fallout and other Trump-driven policy headlines.

Bonds held onto their bid, and the dollar eased slightly, as investors weighed whether cooling jobs indicators keep the Federal Reserve on track for rate cuts later this year.

ETF Demand Anchors Crypto As Traders Look Past Venezuela

Crypto traders kept their focus on flows and positioning, not just the Venezuela tape. Bitfinex analysts wrote on X, “Flows and access are still moving in Bitcoin’s favour. US spot ETFs added more than $1.1B of net inflows in the first two trading days [of the year], Morgan Stanley filed for a BTC trust, MSCI kept crypto-treasury names in its indexes, helping preserve passive exposure,” they said.

They added, “In the background, the S&P 500 is at new highs. Metals sit near records, and US gasoline prices are at multi-year lows, easing headline inflation pressure. For traders, 2026 opens with higher volume but a macro backdrop that still leans supportive for risk.”

Geopolitics stayed busy beyond Caracas. China escalated pressure on Japan by banning exports of dual-use items for military use, adding another layer to an already tense relationship between Asia’s two biggest economies.

The calendar now does the heavy lifting. Investors line up Friday’s jobs report and a US Supreme Court ruling tied to Trump’s global tariffs, with both events carrying the kind of headline risk that can whip around rates, equities, and crypto in the same session.