Asia Market Opens: Bitcoin Recovers to $92K as Stock Prices Stabilize Following Market Turbulence

Bitcoin climbed towards $92,000 at the Asia open on Wednesday, while regional equities stabilized following a brief and sharp decline in global bonds and cryptocurrencies earlier in the week.

The leading cryptocurrency regained the $90,000 level in early trading, as futures for the Nasdaq and S&P 500 rose approximately 0.1%, indicating a more stable session ahead after Wall Street’s overnight recovery.

In the equity markets, MSCI’s broad index of Asia Pacific shares excluding Japan increased by about 0.3%, and Japan’s Nikkei 225 rose 0.8%, recovering some of the losses from Monday.

For numerous crypto-focused traders, the resurgence of risk appetite in equities provided a favorable environment for Bitcoin’s rebound.

Market snapshot

• Bitcoin: $92,851, up 6.6%
• Ether: $3,040, up 8.3%
• XRP: $2.18, up 7.6%
• Total crypto market cap: $3.22 trillion, up 6.5%

Akshat Siddant, the lead quant analyst at Mudrex, stated that Bitcoin is experiencing a robust V-shaped recovery as momentum returns. He observed that sentiment improved after the Fed concluded quantitative tightening and injected $13.5 billion through overnight funding, which enhanced liquidity in short-term markets.

US institutions have increased their utilization of repo facilities, providing additional support for risk assets. Siddant also highlighted that Bitcoin exchange reserves have fallen to “multiyear lows of 2.19M BTC,” a trend that has intensified buying pressure.

Bitcoin has rebounded to $91.1K, and Ethereum has just surpassed $3K. This has shifted the crowd narrative once more.
Utilizing social media discussion data, bars where the respective color is higher indicate:
Crowd is particularly fearful, suggesting a potential market rise
Crowd… pic.twitter.com/IccBD9MgvE

— Santiment (@santimentfeed) December 2, 2025

With Bitcoin trading close to $93,000, he indicated that the next significant resistance level is around $96,000, while support has developed near $87,800.

Early Week Turmoil From Bond And Crypto Selling Gives Way To Calmer Trading

The improvement follows a challenging start to the week, when expectations of an impending rate hike in Japan triggered a global bond selloff and exacerbated a decline in cryptocurrencies, prompting investors to flee from risk assets.

Movements in Japanese government bonds were more muted on Wednesday, although yields remained under pressure as markets continued to anticipate a Bank of Japan tightening later this month.

With no significant new data emerging in Asia, focus shifted back to the Federal Reserve and a widely anticipated rate cut next week.

December Strength And Fed Cut Hopes Lift Sentiment After Japan Shock

December has frequently been a favorable month for equities, and the prospect of more accommodative US policy has bolstered sentiment following the earlier shock from Japan.

Recent US data has indicated a gradually cooling economy, while Fed officials have cautioned against rapid cuts, warning that inflationary pressures could resurface.

Nonetheless, comments from several policymakers in recent days have reinforced expectations for a cut at the December meeting, with traders now estimating an 89.2% likelihood of a 25-basis-point move, up from approximately 63% a month ago, according to CME’s FedWatch Tool.

US stocks closed higher on Tuesday, marking a sixth gain in seven sessions in relatively subdued trading, driven by technology shares as hopes for a rate cut remained elevated. Earlier in the week, equities experienced a selloff due to weaker manufacturing data, a rise in Treasury yields as Japanese bond yields surged, and a decline in Bitcoin and crypto-related stocks.

The next significant macroeconomic test is set for Friday, when the Personal Consumption Expenditures Index, the Fed’s preferred inflation measure, is scheduled for release. That figure could help solidify expectations for the central bank’s decision next week.

Markets Monitor Potential Successor To Powell As Trump Prepares A Decision

Markets are also observing who may succeed Fed Chair Jerome Powell when his term concludes next year, with reports suggesting White House economic adviser Kevin Hassett as a leading candidate. President Donald Trump announced on Tuesday that he would reveal his choice early next year.

Crypto traders remain cautious despite Bitcoin’s recovery. Samer Hasn, a market analyst at XS.com, remarked that Bitcoin’s recent stabilization is concealing deeper vulnerabilities beneath the surface.

“According to current market dynamics, whales continue to offload holdings, leverage reset remains incomplete, and no convincing signs of a bottom have emerged. The backdrop has also been clouded by the Bank of Japan’s tightening shock and rising concerns around Strategy’s balance-sheet risks, maintaining downside pressure firmly in play,” he added.

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