Asia’s crypto market kicked off Thursday on a high note. Bitcoin jumped back over $90,000, and stocks across the region opened stronger. A weaker US dollar and growing bets on a Federal Reserve rate cut in December fueled the appetite for risk in both crypto and equities. Still, trading stayed pretty quiet with US markets closed for Thanksgiving and set for just a half-day on Friday.
Fed Signals Take Priority as Post-Shutdown Data Lags
Expectations around the Fed have flipped fast. CME FedWatch now puts the odds of a 25 basis point cut next month at 85%, way up from just 30% last week. Traders are already positioning for the Fed’s last policy meeting of 2025.
With key US economic reports still missing after the government shutdown, investors are hanging on every word from Fed officials. Recent comments from San Francisco Fed President Mary Daly and Governor Christopher Waller made it clear—the Fed looks ready to shift from a pause to actual easing.
The newest jobs numbers boosted confidence. Although weekly unemployment filings fell to their lowest in half a year, suggesting few workers are being let go – hinting the economy might ease without crashing.
Crypto followed the general market mood. Bitcoin stayed near 91,200 bucks. Meanwhile, Ethereum jumped past three grand. Still, analysts think Bitcoin might get stuck around 93K. On the flip side, Ethereum’s got to hold up above 3,050 to even aim for 3,200 or more.
Asian Stocks Accelerate Up as Crypto Momentum and Tech Strength Coincide
Asian stocks picked up the positive energy. Japan’s Nikkei and South Korea’s Kospi both climbed more than 1% in early trading. The MSCI Asia Pacific index inched higher too, trying to end a three-week losing streak
China’s property sector is still a headache, but the overall mood held up as investors piled into global tech. Nvidia’s strong earnings and steady demand for AI infrastructure boosted confidence in growth and tech shares.
With Bitcoin back above $90K and the market betting on a December Fed rate cut, Asia’s trading day started with a cautious but unmistakable risk-on vibe.
