Asia Morning Briefing: BTC Holds Steady as Market Resets After Leverage Flush
Bitcoin stabilized around $110,300 after a sharp selloff, which analysts view as a healthy leverage flush and market reset.Summary
Bitcoin is trading steadily around $110,300 in Asian trading following a significant correction that saw BTC dip to $104,000 last week. Analysts from Glassnode suggest this was a "flush, not a failure," indicating that excess leverage was unwound and positions were cleaned up, evidenced by falling futures open interest and funding rates. Market maker Enflux points to signs of institutional resilience, such as Blockchain.com’s SPAC listing plans and Bitmine allocating $800 million to ETH, suggesting long-term capital is rebuilding the foundation. Both firms agree the market is in a cautious reset phase underpinned by real capital engagement. Meanwhile, Gold surged to a record high of $4,380.89 amid trade uncertainty, and Japan's Nikkei 225 hit a record high, reflecting a broader portfolio shift where digital assets coexist with traditional hedges.
(Source：CoinDesk)