Asian Equities Rise Modestly as Bitcoin Holds Above $91K Ahead of Fed
Asian equities opened slightly higher on Monday as markets prepare for a busy week of central bank announcements, including a Federal Reserve meeting where a 25-basis-point rate cut is largely priced in. MSCI’s Asia-Pacific index rose around 0.2%, led by technology stocks, while U.S. futures and the dollar drifted lower.
Crypto markets followed the cautious optimism. Bitcoin traded above $91,300, up 2% in 24 hours and more than 6% over the past week, extending last week’s rebound but facing resistance near $94,000. FxPro analyst Alex Kuptsikevich noted the move fits a corrective pattern but added that momentum could lift BTC toward $98,000–$100,000.
Altcoins Performance
- Ether climbed 3% to $3,135, logging a 10.6% weekly gain.
- BNB rose 1%, Solana +1.6%, stETH +3%, XRP +1.2% to $2.08.
- Cardano underperformed, down ~1.4%.
Despite gains, sentiment remains cautious. CryptoQuant’s Bull Score dropped to zero for the first time since early 2022, a sign of bearish cycle conditions. CEO Ki Young Ju warned that without new liquidity, Bitcoin could drift into a $55,000–$70,000 range next year.
Looking Ahead
Medium-term catalysts, including potential 401(k) rule changes by 2026 and Ethereum’s Fusaka hard fork upgrades, could support the market. For now, traders remain focused on Fed policy and broader macro conditions, with BTC’s current pullback mirroring prior cycles in 2013, 2017, and 2021.
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