Asian Market Open: Bitcoin (BTC) Falls to $93,000 and Markets Reduce Risks Ahead of Fed Signals

Hello Asia… Here are the most notable movements before the official opening:

Bitcoin’s price fell to $93,000 in the early hours of Monday’s Asian trading session, recording its biggest decline since March, as traders reduced expectations of an expected interest rate cut in December and global exchanges opened trading cautiously.

But the liquidation revealed the picture; Data from the CoinGlass platform showed the liquidation of transactions worth $617.45 million in 24 hours, including $394.50 million for bullish positions and $222.95 million for their bearish counterparts. Bitcoin alone resulted in $242.19 million worth of transactions being liquidated, while Ethereum-ETH cost $242.19 million worth of transactions. Its speculators lost $169.06 million, while the largest liquidation of a Bitcoin-related speculative trade amounted to $30.60 million via the Hyperliquide platform.

For their part, Wall Street markets also performed poorly, with futures activity declining after last Friday’s declines, with the Dow Jones indices falling 1.65%, the S&P 500 1.66% and the Nasdaq 2.29%.

An overview of the market

• Bitcoin price: $95,051, down 0.7%
• Ethereum price: $3,172, down 0.7%
• Ripple Coin Price (Ripple-XRP): $2.25, up 0.4%
• Total value of digital assets: $3.31 trillion, down 0.9%

Markets Reduce Risk Exposure as Fed Rate Cut Probability Drops to 40%

European markets increased their cautious atmosphere, with the German DAX index falling 1.39%, the FTSE 100 index 1.05%, the French CAC 40 index 0.11% and the Euro Stoxx 50 index around 0.83%.

Asian markets followed with varying declines, with Japan’s Nikkei 225 index falling 1.77%, Australia’s S&P ASX 200 index 1.35%, New Zealand’s benchmark index about 1.58%, while the Shanghai index fell slightly by 0.16%.

Interest rate expectations were the main driver of risk aversion, as markets priced in the possibility of an interest rate cut to 40% in December after surpassing 60% last week, prompting investors to prefer to preserve liquidity and stay away from trading new asset classes.

Liquidation wave intensifies as crypto markets struggle to receive support

Digital currencies embodied this transformation, as Crypto Spot ETFs lost their investments and liquidity became scarce, forcing Bitcoin to abandon its gains linked to hopes of easing monetary policies, to trade yesterday morning at $95,051 after falling at dawn.

For its part, Japan added a local change. The Asahi newspaper reported that the Financial Services Authority (FSA) is considering enacting new legislation that treats digital assets as financial products subject to trading laws based on undisclosed information, in addition to reducing taxes on gains from the crypto market to a flat rate of 20%, in addition to new requirements and disclosures for 105 locally listed digital currencies.

Elsewhere, stock traders turned their attention to a busy week of earnings announcements and delayed U.S. economic data that will affect the evolution of interest rate expectations, while stocks of big technology companies remained in the spotlight with a revaluation of their prices linked to the wave of enthusiasm linked to artificial intelligence technology.

As for the liquidation wave, the markets remained under pressure throughout the session, as the twelve-hour liquidation wave caused losses amounting to $389.39 million, of which $283.40 million were suffered by the bulls, while the four-hour liquidation wave caused losses amounting to $76.11 million, the majority of which was suffered by the bears (speculators bearish) worth $67.04 million.

In general, traders believe that the renewed conviction of institutions will play a decisive role in forming a solid basis for a restart, or that we will see the prelude to a deeper correction wave.

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