Crypto Reporter
Shalini Nagarajan
Crypto Reporter
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Bitcoin rose nearly 5% to $95,232 on Wednesday, and Asian shares opened modestly higher after Wall Street ended lower overnight, as traders weighed fresh policy risk in Washington and a shifting risk mood across markets.
Akshat Siddhant, lead quant analyst at Mudrex, said escalating Middle East tensions are driving investors toward alternative safe havens such as crypto, lending support to the wider market rally.
“On-chain data adds to the positive setup, with short-term holders moving back into profit. Historically, this has been a sign that selling pressure eases, extending upside potential,” he said.
“For bullish continuation, Bitcoin needs a firm daily and weekly close above the $92,000–$94,000 zone to reclaim key moving averages. Failure to hold this range could see BTC consolidate or retest support near $88,000.”
China’s major benchmarks started the day in the green. Shanghai rose 0.89%, Shenzhen’s SZSE Component added 1.54%, and China A50 gained 0.56%.
Hong Kong also advanced. The Hang Seng climbed 0.35% in early dealing, extending a cautious uptrend as traders stayed focused on rates, risk appetite, and cross-asset flows that often spill into crypto.
Market snapshot
- Bitcoin: $95,325, up 4.4%
- Ether: $3,321, up 6.7%
- XRP: $2.17, up 5.6%
- Total crypto market cap: $3.33 trillion, up 4.5%
Saylor’s Latest Bitcoin Purchase Fuels Market Optimism And Inflows
Bitcoin’s jump followed a busy week for corporate accumulation. Michael Saylor’s Strategy disclosed a purchase of 13,627 BTC worth about $1.25B to $1.3B, at an average price around $91,500 per coin, a move that helped steady sentiment and pull in fresh buying.
The rally also leaned on market mechanics that crypto traders watch closely. Buyers drove Bitcoin through the $94,000 to $95,000 zone that had capped it for weeks, and traders pointed to rising open interest and negative funding that can pressure short sellers during a fast push higher.
Japan Stocks Stay Firm On Yen Slump As Wall Street Stumbles
Japan’s equities stayed in rally mode. The Nikkei 225 advanced 0.9%, and the yen weakened to its softest level since July 2024, adding momentum to exporters and keeping regional risk appetite supported.
In the background, traders headed into Wednesday watching for a possible US Supreme Court ruling tied to President Donald Trump’s global tariffs announced in April, a decision that could reshape how markets price trade friction and growth risk.
Overnight in the US, stocks fell as financials led declines after JPMorgan warned that Trump’s proposed 10% cap on credit card interest rates would hurt the economy and squeeze profitability across the sector. The Dow fell 0.80%, the S&P 500 slipped 0.19%, and the Nasdaq eased 0.10%.
Visa dropped 4.5%, Mastercard fell 3.8%, and the financial sector sank 1.8%, with JPMorgan ending down 4.2% even after posting a better-than-expected quarterly profit alongside a decline in investment banking fees.
Oil surged on geopolitical tension and gold pushed to new highs, and traders also took in an inflation reading that matched expectations, a combination that kept rate cut bets alive even as risk markets recalibrated.