Asia Market Brief: BTC and ETH Sideways as CPI Release and China-U.S. De-Escalation Loom
Asia Morning Briefing: Bitcoin and Ether Range-Bound as Markets Eye CPI and China-U.S. Developments
Crypto and equity markets in Asia are trading cautiously as the U.S. government shutdown delays most economic data, while China signals restraint on export controls. Investors are focused on Friday’s CPI report, the only major U.S. release unaffected by the shutdown.
Bitcoin (BTC) trades near $108,164, slightly up from Monday but still down 2% for the week, while Ether (ETH) hovers around $3,815. QCP Capital describes the market as in a “narrow-range equilibrium,” noting that a softer 0.2% CPI print could support Bitcoin’s upside, while volatility is likely to remain elevated until the report.
Trade outlook: Polymarket assigns a 77% probability that the U.S. and China will reach a tariff deal by Nov. 10, while the odds of Trump’s 100% tariffs have fallen to 16%. Analysts suggest Trump favors a symbolic deal over confrontation, reinforced by his weekend comment that the U.S. “wants to help China, not hurt it.”
Market snapshot:
- BTC: Consolidating above $108K, with a dip below $100K seen as a potential buying opportunity.
- ETH: Around $3,800 on 33% higher volume; a $650M Ethereum Foundation transfer triggered $700M in profit-taking, leaving analysts split between a potential breakout to $5,000 or a slide to $2,850 if support at $3,470 fails.
- Gold: Futures down 0.3% to $4,097.80/oz after Tuesday’s 5.7% plunge, though central-bank demand and rate-cut expectations provide support.
- Nikkei 225: Japan’s index fell 1.5% amid renewed U.S.-China trade tension concerns.
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