Asia Morning Briefing: Hong Kong’s FinTech Week Belonged to Stablecoins, Not CBDCs
Markets
Market Movement
BTC: Bitcoin BTC$106,401.25 is trading at around $105,930, little changed over 24 hours, as the market consolidates following recent volatility and profit-taking from leveraged traders.
ETH: Ethereum ETH$3,603.57 is trading near $3,578, slipping slightly as traders rotate into Bitcoin and unwind leveraged DeFi positions, though network activity and staking demand continue to anchor support around current levels.
Gold: Gold surged over 2% to about $4,085 an ounce as soft U.S. economic data and a deal to end the government shutdown boosted expectations of a December Fed rate cut, driving renewed safe-haven demand.
Nikkei 225: Asia-Pacific markets advanced Tuesday, with Japan’s Nikkei 225 up nearly 1%, as investors tracked Wall Street’s rally driven by renewed AI optimism and growing confidence that the U.S. government shutdown will soon end.
Elsewhere in Crypto
Elsewhere in Crypto
Bitcoin recovered from an early Monday drop to hold near $106,000. XRP led majors on ETF optimism, while zcash and monero cooled off after outsized rallies.
Progress toward ending the U.S. shutdown boosted sentiment, with traders eyeing a short-term liquidity boost from drawing down the Treasury General Account.
Should the shutdown drag on, however, it risks derailing efforts to pass crypto market structure legislation, Arca research head warned.
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ESMA will prioritize projects that position it as a respected regulator on the global stage, and aiding it in attracting and retaining talents. The regulator has already begun implementing some of the changes sought by the reform.
