Latest news with #KOPSI
Yahoo
02-08-2025
- Business
- Yahoo
Asia Morning Briefing: Bitcoin Drops to $115K as Third Major Profit-Taking, New Tariff Tensions Add Pressure
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook (BTC) is set to end the trading week in Asia down 2.3% on the day, changing hands above $115,300. A new round of global tariffs from the White House is dragging down markets in Asia, with the Nikkei 225 opening in the red along with Seoul's KOPSI. Bitcoin is also not immune to this, as historically digital assets also follow equity markets when the White House announces tariffs – though that has also begun to weaken. CoinGlass data shows around $260 million in long positions have been liquidated over the last 4 hours. BTC is struggling with tariff pressure and continued profit taking after a historic run past all-time highs. According to a new report by CryptoQuant, bitcoin just experienced its third major profit-taking wave of the 2023–2025 bull cycle, with $6–8 billion in realized gains recorded in late July. Like the previous phases, this wave was defined by large spikes in the Spent Output Profit Ratio (SOPR), particularly among short-term holders, and a significant 80,000 BTC sell-off by an OG whale on July 25. New whale cohorts, those who accumulated BTC within the last 155 days, were the dominant sellers, according to the data provider. Exchange inflows surged to 70,000 BTC in a single day after the OG whale sold off, a level that typically signals a strong intent to exit positions at peak prices. The selling wasn't limited to BTC: Ethereum-based whales holding WBTC, USDT, and USDC also realized up to $40 million in daily profits, further supporting the narrative of broad-based capital rotation. Historically, these profit-taking events have been followed by a two- to four-month period of consolidation before the next leg higher, CryptoQuant wrote. That pattern may be playing out again, with U.S. investor appetite waning. The Coinbase premium, an indicator that tracks price differences between Coinbase and other global exchanges, recently flipped negative, suggesting that American buyers are no longer paying a premium. Adding to the cautious tone is the return of macro risk. Trump's tariff escalation, including new measures that specifically target Canada, has rattled broader risk assets. Equities, bonds, and crypto alike saw declines amid fears of inflation and supply chain disruption. Without a clear macro catalyst or structural inflows, risk-taking remains selective and conviction light, added market maker Enflux in a note to CoinDesk. "Until BTC or ETH can post a clean reclaim of recent local highs, price action may stay choppy and rotation thematic rather than trend-driven," the market maker said. Market Movements: BTC: Bitcoin (BTC) is trading at $115,500, down 2.3% on the day, as renewed White House tariffs weigh on Asian markets; despite the drop, BTC remains range-bound. ETH: Ether (ETH) hovered near $3,800 on Thursday after surging over 50% in July—its best month since 2022—as bullish price targets circulated on social media, including a popular analyst projecting a breakout to $15K–$16K this cycle, backed by $5.3 billion in U.S. spot ETF inflows and strong institutional demand. Gold: Gold rose to $3,296 earlier Thursday before slipping to $3,287.39, down 0.38%, as dip-buying offset a firm U.S. dollar after the Fed held rates steady and Powell pushed back on a September cut amid strong jobs data and rising core PCE inflation. Nikkei 225: Asia-Pacific markets opened lower Friday, with Japan's Nikkei 225 down 0.65% and the broader Topix index trading flat S&P 500: S&P 500 futures slipped Thursday night as traders weighed Big Tech earnings and looked ahead to July's jobs report. Elsewhere in Crypto: Tyler Winklevoss has 'serious concerns' over Trump's pick to lead the CFTC, Brian Quintenz (The Block) Tether-Focused Blockchain Stable Raises $28M to Power Stablecoin Payments (CoinDesk) HKMA's strict stablecoin regime to shape Hong Kong's crypto future (SCMP) 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Epoch Times
22-04-2025
- Business
- Epoch Times
Acting South Korean President Expects Positive Outcome From US Trade Talks
South Korean Acting President Han Duck-soo expects this week's trade talks with the United States to set the two nations on course toward a mutually beneficial outcome, he said during a cabinet meeting on Tuesday. U.S. President Donald Trump imposed reciprocal tariffs of 25 percent on imports from the East Asian nation earlier this month, which he later paused for 90 days. However, tariffs on the auto and steel sectors remain at 25 percent. Han said the meeting was scheduled at Washington's request and will be held in the United States' capital on April 24. Ahead of his departure for Washington on Tuesday, South Korean Finance Minister Choi Sang-mok said he aims to come back after 'opening the door' to discussions that will strengthen the South Korean–U.S. alliance. Industry Minister Ahn Duk-geun will also be at the meeting, where the Trump administration will be represented by U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. Related Stories 4/20/2025 4/8/2025 The negotiations are expected to cover reciprocal tariff exemptions or reductions, as well as duties on cars and steel, Seoul's industry ministry said in a 'Since the industries of both countries are closely linked, our goal is to negotiate a win-win direction rather than imposing tariffs,' Ahn said. 'We will actively respond by closely consulting with the U.S. government to minimize the impact on our companies.' The statement added that a specific agenda was being coordinated with the Americans but has yet to be confirmed. South Korean shares ended flat on Tuesday, as investors remained wary of potential turbulence ahead of negotiations with the United States over trade barriers. The benchmark KOPSI closed down by j us t 1.78 points, or 0.07 percent, at 2,486.64. The East Asian country's economy is vulnerable to any potential trade losses from U.S. tariffs, as much of its earnings come from exporting products worldwide, especially into the U.S. market. South Korea's top exports are integrated circuits, automobiles and parts, refined petroleum, and passenger and cargo ships, according to a Han said on Monday that the consultation process with the United States 'may not be easy.' Trump has said that sharing the cost of keeping U.S. troops in South Korea would be part of 'one-stop shopping' negotiations with Seoul, which South Korean officials have said is not up for negotiation. However, they have said cooperation on shipbuilding is a 'very important card' the country holds and that participation in a gas project in Alaska could form part of the package. Han 'signalled a willingness, depending on the issues, to reopen a cost-sharing deal' in an interview with the He told the paper that 'the role of the U.S. was huge in making Korea what it is now.' Han took the post of acting president after Yoon Suk Yeol was Yoon had issued a surprise late-night declaration of martial law that he said was needed in part to root out 'anti-state' elements. He lifted the decree six hours later after parliamentary staffers barricaded themselves inside the parliament using sofas to block special operations soldiers who broke windows as they tried to enter the chamber, where lawmakers voted to reject martial law. A Yoon denies that the martial law decree was an attempted coup d'etat.
