Asian Markets Tumble as Bitcoin Breaks Below $100K Amid Fed Concerns
Asian stocks plunged following Wall Street's selloff as cautious Fed signals caused Bitcoin to drop below $100,000.Summary
Asian stocks experienced a significant selloff on Friday, mirroring Wall Street's decline, as hawkish comments from Federal Reserve officials dampened expectations for interest rate cuts in December. This market anxiety was reflected in the cryptocurrency space, where Bitcoin fell below the $100,000 psychological level amid persistent selling pressure, and ETH dropped by 8.33% in 24 hours. Furthermore, investor sentiment in crypto was chilled by reports of potential regulatory scrutiny in Japan targeting cryptocurrency treasury companies. Derivatives markets show slow capital return, indicating continued risk aversion among traders who are now awaiting key US economic data, such as retail sales, while Fed officials maintain a cautious stance on policy easing due to inflation concerns.
(Source：BeInCrypto)