Asia Market Opening: Bitcoin Approaches $96K, Asian Stocks Varied Following Wall Street’s Tech Decline

Bitcoin rose slightly to around $96,000 on Thursday as traders monitored a recent reduction in crypto leverage and a volatile opening in Asia, following a decline on Wall Street driven by weakness among major US technology firms.

In Asia, Japan’s Nikkei 225 dropped approximately 1%, and US equity index futures softened, with initial indicators suggesting a subdued opening for Hong Kong and mainland China. Meanwhile, South Korean and Australian indices saw slight gains, contributing to an uneven regional outlook.

The cautious atmosphere came after another downturn in the US market. The tech-laden Nasdaq 100 decreased by 1.1% on Wednesday, and the S&P 500 finished 0.5% lower as investors reduced their holdings in large-cap technology stocks.

Market Overview

• Bitcoin: $96,177, up 0.8%
• Ether: $3,310, down 0.2%
• XRP: $2.10, up 0.2%
• Total crypto market cap: $3.34 trillion, down 0.3%

Decline in Open Interest Indicates Crypto Market Reset

Crypto traders remained attentive to market positioning. Analysts noted that Bitcoin’s open interest has fallen over 31% from its peak in 2025 and has stabilized around $10 billion, marking a deleveraging phase that followed significant liquidations as spot trading remained active, with volumes approaching $60 billion.

Bitcoin open interest drops 31% as market deleveraging creates potential bottom formation with analysts targeting $105,000 breakout zone.#Bitcoin #OpenInteresthttps://t.co/jqikXXzthT

— Cryptonews.com (@cryptonews) January 14, 2026

Some analysts view the reset positively, especially if prices remain stable. The upward movement reflects a stronger risk-on sentiment linked to steady US inflation and a robust job market, creating what QCP describes as a “Goldilocks environment” where investors are flocking to various assets, from stocks to precious metals and now crypto.

Lukman Otunuga, a senior market analyst at FXTM, mentioned that investor sentiment is being pulled in multiple directions due to geopolitical tensions, uncertainties in trade policy, and concerns regarding central bank independence impacting market dynamics.

“While risk assets are still vulnerable, safe havens like gold and silver continue to perform well,” he stated. “With significant legal and political decisions on the horizon, volatility is expected to stay high, presenting both challenges and opportunities for traders in the upcoming week.”

Macro and Political Risks Persist in Influencing Markets

Oil prices influenced the mood for cross-asset trading. Prices decreased for the first time in six days after President Donald Trump indicated he might delay military action against Iran for the time being, leading traders to unwind some of the geopolitical premium that had been factored into crude prices.

Gold and silver also retreated after reaching record highs in the previous session, as traders reassessed the latest news and shifted focus back toward risk assets in certain market segments.

Policy uncertainty lingered in the background. The US Supreme Court did not deliver a decision on challenges to Trump’s global tariffs on Wednesday, leaving markets anticipating further clarity on one of the administration’s key economic policies until at least next week.

FX traders in Asia were also monitoring South Korea’s won after US Treasury Secretary Scott Bessent remarked that the currency’s depreciation did not align with the country’s fundamentals, providing rare verbal support as volatility increased.

Japan’s political landscape remained unpredictable as well. Reports and subsequent confirmation that Prime Minister Sanae Takaichi intends to call a snap election have put pressure on the yen at times, with currency fluctuations influencing daily movements in Japanese equities.

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