Asia Market Open: Bitcoin Declines 2% as Selling Momentum Carries Over From October

Good, morning Asia. Here’s what’s moving before the ￰1￱ fell 2% in early Asia, slipping below $107,000 as whale profit booking and continued ETF outflows weighed on ￰2￱ pullback extends pressure from Red October, when a $19b washout on Oct. 19 set a weaker tone that bled into ￰3￱ say the move looks like consolidation after a volatile month, with some positioning for a base before the next leg ￰4￱ snapshot Bitcoin : $106,961, down 0.7% Ether : $3,636, down 2.7% XRP : $2.35, down 3.4% Total crypto market cap: $3.64 trillion, down 1.6% Institutional Demand Slows as New Bitcoin Supply Outpaces Accumulation On-chain flows support the cautious ￰5￱ the first time in seven months, institutional demand has dipped below the pace of new coin issuance, according to Charles Edwards, founder of Capriole Investments.

Won't lie, this was the main metric keeping me bullish the last months while every other asset outperformed ￰6￱ trend could flip tomorrow, next week, or in 2 ￰7￱ right now we have 188 treasury companies carrying heavy bags with no business model and a lot less… ￰0￱ — Charles Edwards (@caprioleio) November 3, 2025 It is a sign that large buyers are stepping ￰8￱ shift aligns with a broader risk-off stance across ￰9￱ painted a different ￰10￱ major stock indexes climbed on Monday after news that Amazon will supply cloud services to OpenAI, while the dollar firmed to a three-month high against the euro as expectations for hefty US rate cuts ￰11￱ Street finished the previous session stronger, with the S&P 500 and the Nasdaq buoyed by tech gains, though futures later pointed lower, indicating a softer US ￰12￱ Asia, a rise in tech shares lifted Japan’s Nikkei and Taiwan’s TAIEX to record highs, while several regional markets slipped after recent ￰13￱ Signals Measured Path Ahead as Traders Scale Back Rate-Cut Bets Policy remains the main macro ￰14￱ Federal Reserve eased last week as expected, but Chair Jerome Powell said an interest rate cut at the next meeting in December was “not a foregone conclusion.” That line kept traders from leaning too hard into dovish bets.

Meanwhile, Fed officials on Monday offered mixed views on growth and inflation, and the ongoing US government shutdown has delayed key data, complicating the read-through for ￰15￱ now price a roughly 70% chance of a 25-basis-point cut next month, down from about 94% a week ￰16￱ October’s Shakeout, Crypto Markets Seek Stability as Leverage Resets Back in crypto, October’s liquidation wave drained leverage and risk ￰17￱ that base takes time, which is why spot dips are attracting only selective bids and rallies fade quickly when supply hits exchanges. “In many ways, October’s correction has done what it needed to: it has flushed out leverage and re-set sentiment,” said Rachel Lin, chief executive of SynFutures.

“On-chain data shows that long-term holders are not capitulating, they’re actively ￰18￱ outflows remain steady, and that’s historically a constructive sign>’ She added that November could start sideways as markets absorb Fed commentary. A softer inflation print or a clearer easing message could spark a recovery, while Ethereum may track the same path, with added support from network upgrades and growing institutional use of ￰19￱ now, the path of least resistance hinges on ￰20￱ ETF redemptions slow and exchange inflows abate, spot could stabilize above recent ￰21￱ then, the market will trade headline to headline, with macro and positioning calling the shots.