Asia Markets Update: BTC and ETH Stable as Traders Eye CPI Data and China-U.S. Tensions

Asia Morning Briefing: Bitcoin and Ether Range-Bound Ahead of CPI and China-U.S. Signals

Crypto and equity markets remain in a holding pattern as the U.S. government shutdown delays most economic data releases, while China signals restraint on export controls. Investors are focused on Friday’s CPI report, the only major U.S. economic release not impacted by the shutdown.

Bitcoin (BTC) trades around $108,164, up slightly from Monday but still down 2% for the week. Ether (ETH) is near $3,815, reflecting a “narrow-range equilibrium,” according to QCP Capital. The CPI report is seen as the “singular anchor” for policy expectations; a softer-than-expected 0.2% reading could support Bitcoin’s upside, while volatility is expected to remain elevated.

Trade and policy outlook: Polymarket assigns a 77% probability of a China-U.S. tariff agreement by Nov. 10, while the odds of Trump’s 100% tariffs have fallen to 16%. QCP suggests Trump favors a symbolic deal over confrontation, reinforced by his weekend remarks that the U.S. “wants to help China, not hurt it.”

Market snapshot:

• BTC: Consolidating above $108K; a dip below $100K could present a buying opportunity, according to analysts.
• ETH: Around $3,800 on 33% higher volume, though a $650M Ethereum Foundation transfer triggered $700M in profit-taking, leaving analysts split between a potential breakout toward $5,000 or a slide to $2,850 if $3,470 support fails.
• Gold: Futures down 0.3% to $4,097.80/oz after Tuesday’s 5.7% decline, though central-bank buying and rate-cut expectations provide support.
• Nikkei 225: Japan’s index fell 1.5% amid reports of potential U.S. export restrictions to China, raising trade-tension concerns.

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