Bitcoin held near $88,000 early Thursday as Asian markets eased out of a hot streak in tech and investors shifted focus to earnings, central bank signals, and a fresh run higher in gold.
Shanghai rose 0.21% and DJ Shanghai gained 0.22%, and the SZSE Component slipped 0.10% and China A50 fell 0.20%. Hong Kong stood out as the Hang Seng jumped 1.22%.
Market snapshot
- Bitcoin: $88,527, down 0.7%
- Ether: $2,990, down 0.6%
- XRP: $1.89, down 0.1%
- Total crypto market cap: $3.08 trillion, down 0.6%
Markets Torn Between Tech Hopes And Macro Uncertainty
Lukman Otunuga, senior market analyst at FXTM, said that markets are being pulled in two directions.
“On one hand, optimism around global equities and major tech earnings is supporting risk appetite. On the other, persistent trade uncertainty, sharp currency moves, and doubts around US fiscal and monetary policy are keeping investors on edge,” he said.
“With the dollar still vulnerable and big tech earnings accounting for a significant share of the S&P 500, the coming days could set the tone for risk sentiment well beyond this week.”
Gold and silver pushed to fresh all-time highs as investors stayed committed to physical assets, and oil hit a four-month top after President Donald Trump warned Iran of possible attacks if it did not make a deal on nuclear weapons.
Powell Signals Steady Policy As Markets Reprice Easing Path
In the US, the Federal Reserve kept rates on hold, and Chair Jerome Powell talked of a “clearly improving” economic outlook and broad support on the committee for a pause. Powell also sidestepped questions on whether he would remain as a governor after stepping down as chair in May as Trump presses for deeper cuts.
Traders then repriced the path ahead, with the chance of another easing by April pared back to 26% and June seen as the next likely window at 61%.
Earnings kept driving the equity story. Samsung Electronics reported a surge in operating profit as AI spending lifted chip prices, and markets also watched the split reaction to Microsoft and Meta, with investors turning next to Apple results.
Currency markets stayed unsettled as the dollar remained under pressure, even after US Treasury Secretary Scott Bessent reiterated the administration’s preference for a strong dollar, and European officials monitored the euro’s rise as the European Central Bank flagged that a steep move could influence rate decisions.
For crypto, the mood stayed cautious. Thin spot ETF activity and softer derivatives positioning kept bitcoin trading in a tight range, with traders looking for a clearer catalyst from risk markets, earnings, and the next signals from policymakers.
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