Asia Market Open: Bitcoin Dips To $75K While Asian Equities Slip And Metals Turn Volatile
A fresh bout of turbulence hit Bitcoin and equities markets at the Asia open on Monday, after a historic wipeout in precious metals spilled into risk assets and left investors bracing for a packed week of earnings, central bank meetings and headline economic data.
In early trading, Bitcoin hovered around $75,000 after dipping below $76,000 in thin weekend conditions, revisiting levels last seen during the fallout from Donald Trump’s “Liberation Day” tariffs last year.
Asian share markets tracked Wall Street futures lower, as traders digested Friday’s metal shock and turned cautious ahead of a heavy calendar. MSCI’s broad Asia-Pacific index outside Japan fell 0.7%, and South Korea dropped 1.0%.
Japan stood apart. The Nikkei 225 gained 0.7% after opinion polls pointed to a landslide for Prime Minister Sanae Takaichi’s Liberal Democratic Party in next week’s lower house election, a result investors see as supportive of large-scale stimulus and a weaker yen.
Market snapshot
- Bitcoin: $75,549, down 4%
- Ether: $2,210, down 9.3%
- XRP: $1.56, down 6%
- Total crypto market cap: $2.62 trillion, down 4.3%
Metals Chaos Spreads As Silver Plunges And Gold Stays Under Pressure
The mood stayed skittish in commodities. Silver extended its rout and at one point fell another 5%, after Friday’s roughly 30% crash squeezed leveraged positions in what had become a crowded trade.
Gold also remained under pressure after a Friday slide that marked its steepest daily fall since 1983, while silver suffered its worst single-day loss on record.
Oil slipped almost 3% after Trump said over the weekend Iran was “seriously talking” with Washington, a comment that traders read as lowering the immediate risk of a US military strike. Iran stayed a key geopolitical swing factor for energy.
Markets Brace For Earnings And Central Bank Decisions
Currency moves added another layer. The dollar stayed firm after Trump nominated Kevin Warsh as the next Federal Reserve chair, a pick markets viewed as potentially less friendly to rapid rate cuts, and more pointed about the Fed’s balance sheet.
Equity futures in Europe and the US edged lower, with S&P 500 futures down 0.2% and Nasdaq futures off 0.4% as investors positioned for results from Alphabet, Amazon and AMD, and for more scrutiny on AI spending after Microsoft drew a chilly reception.
That earnings focus lands alongside major policy meetings, including the Reserve Bank of Australia, European Central Bank and Bank of England, with markets pricing about a 75% chance the RBA lifts rates to 3.85% to tackle resurgent inflation.
Data due in Asia includes S&P Global manufacturing PMIs for Japan, South Korea and Taiwan, plus inflation prints for Indonesia and Pakistan, while Malaysia remains closed.
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