Asia Morning Briefing: Even Prediction Markets Didn’t See BTC's Selloff Coming

Bitcoin's recent slide into the low $90,000s triggered one of the fastest sentiment resets of the year in prediction markets, indicating that both retail and institutional traders were caught off guard by the severity of the selloff, which erased most of the year-to-date gains. Professional desks, according to QCP, were not positioned for a weekly close below $100,000. On-chain data from Glassnode suggests oversold momentum and moderating ETF outflows point toward late-stage capitulation pressures, as Bitcoin trades near prior bottom zones. However, CryptoQuant argues that a true bottom is missing because realized losses remain low and long-term holders are still selling into strength. The market is currently caught between early exhaustion signals and a lack of definitive capitulation, suggesting a volatile period ahead.

In market movements, BTC slipped to about $92,500, down 2% on the day. Ether eased about 2% to hold just above $3,000. Gold also fell 0.3% to about $4,069 an ounce due to fading expectations for a December Fed rate cut and a stronger dollar. Asia-Pacific markets broadly declined, with Japan's Nikkei 225 down 0.92% as investors awaited Nvidia earnings and the September jobs report.

(Source：CoinDesk)