Asia Market Opening: Bitcoin Stabilizes Near $93K, Stocks Move Slowly Following Weak US Data Supporting Fed Rate Cut Expectations

Bitcoin remained close to $93,000 during Asian trading on Thursday, while regional equities started off sluggishly as soft US economic data bolstered expectations for an interest rate cut by the Federal Reserve next week.

Nic Puckrin, an investment analyst and co-founder of The Coin Bureau, noted that Bitcoin has experienced a “remarkable recovery” over the past day, attributing this shift to a “perfect storm of good news” that has redirected momentum toward bullish sentiment.

He highlighted Vanguard’s decision to lift its long-standing prohibition on Bitcoin ETFs, Bank of America’s suggestion for a 1% to 4% allocation to cryptocurrencies that could potentially direct up to $700 billion into the sector, and increasing optimism that Kevin Hassett, who is crypto-friendly, will be appointed as the next Fed chair.

Kevin Hassett, director of the National Economic Council, has emerged as Trump’s leading candidate for Fed chair, positioning a crypto-aligned ally close to heading the central bank.#KevinHassett #FedChair https://t.co/Oa59lRry11

— Cryptonews.com (@cryptonews) November 26, 2025

“With a rate cut on December 10th largely anticipated, all attention is now focused on monetary policy expectations for 2026, making Hassett a favorable choice for the markets,” Puckrin stated.

Market snapshot

• Bitcoin: $93,609, up 0.9%
• Ether: $3,215, up 5.9%
• XRP: $2.20, up 0.7%
• Total crypto market cap: $3.27 trillion, up 1.8%

Bitcoin Eyes Breakout As Traders Track Key US Jobless Data

Akshat Siddhant, lead quant analyst at Mudrex, mentioned that a significant breakout above current levels could pave the way to the $103,000 supply zone.

He added that traders are monitoring US weekly jobless claims later on Thursday, which could bolster Bitcoin’s upward movement if they support the argument for more lenient policy.

In the equities market, Asia showed mixed results. Japan’s Nikkei 225 increased by approximately 0.8%, while MSCI’s broad index of Asia Pacific shares outside Japan dipped around 0.1%, impacted by declines in Korea and New Zealand.

Mainland China indices were mostly stable to slightly higher, and Hong Kong’s Hang Seng index saw a slight increase, reflecting a cautious sentiment.

Rate Cut Probability Climbs As US Data Softens

US index futures remained steady following Wednesday’s gains, with contracts on the Dow Jones Industrial Average, S&P 500, and Nasdaq all showing modest increases. European futures were flat to slightly lower, with DAX and FTSE 100 declining slightly while CAC 40 showed a minor gain.

On Wall Street overnight, small-cap stocks led the rise. The Russell 2000 surged about 1.9%, and the S&P 500 recorded a second consecutive increase after US private payrolls experienced their largest decline in over two and a half years.

An Institute for Supply Management survey indicated a contraction in services employment in November, with the prices paid subindex dropping to a seven-month low, even as overall services activity remained close to 52.6.

The series of softer economic figures has strengthened the case for a near-term rate cut. Fed funds futures now suggest approximately an 89% likelihood of a 25-basis-point reduction at the upcoming meeting, up from about 83% a week prior, according to CME’s FedWatch tool.

Greenback Hits Five-Week Low, Investors Track Signals On Future Fed Moves

The dollar index fell about 0.4% to 98.878, reaching a five-week low and extending its losing streak to nine sessions. The yield on the 10-year US Treasury remained stable near 4.07% after a Financial Times report indicated that bond investors have raised concerns to the Treasury that Hassett might advocate for aggressive rate cuts in line with President Donald Trump’s preferences.

Investors are also contending with a backlog of US data following a record 43-day government shutdown earlier this year that disrupted the release of official reports.

As delayed data becomes available, traders are placing greater emphasis than usual on private sector surveys and high-frequency indicators to assess the Fed’s trajectory.

The next significant macroeconomic test will occur on Friday with the release of the personal consumption expenditures index, the Fed’s preferred measure of inflation.

Until then, markets are operating under the assumption that a December rate cut is virtually assured and that policy decisions for 2025 and 2026 will depend on how swiftly growth and employment slow from this point forward.

The post Asia Market Open: Bitcoin Steadies Around $93K, Stocks Drift After Weak US Prints Reinforce Fed Cut Outlook appeared first on Cryptonews.