Good morning, Asia! As we kick off the trading day, the cryptocurrency market is buzzing with activity, most notably with Bitcoin surging back above the monumental $90,000 threshold. The positive sentiment sweeping across Asian markets is palpable, buoyed by an optimistic stock outlook and a hesitant dollar as traders adjust their expectations regarding the Federal Reserve’s monetary policy.
This Thursday marks a notable moment, as trading volumes remain light tied to the Thanksgiving holiday in the United States. With the markets shuttered for the holiday and only a brief session on Friday expected, investors are leaning heavily into risk assets, clearly influenced by Wall Street’s tech-driven resurgence and preparing for what could be the Fed’s last policy meeting of the year. It’s fascinating to see how quickly the landscape can shift; just week ago, traders assigned a mere 30% chance to a rate cut in December. That figure has skyrocketed to approximately 85%, according to the CME FedWatch tool, indicating a significant change in market sentiment.
Here’s the current snapshot for major cryptocurrencies:
- Bitcoin: $91,229, up 4.3%
- Ether: $3,038, up 2.8%
- XRP: $2.21, up 1.1%
- Total crypto market cap: $3.19 trillion, up 4.1%
This dramatic shift in outlook is largely due to recent comments from key figures at the Federal Reserve, including remarks from San Francisco Fed President Mary Daly and Fed Governor Christopher Waller. Their statements have bolstered investor confidence, steering market expectations toward a potential easing of policy. Moreover, data released on Wednesday showed new jobless claims falling to a seven-month low. This report suggests that layoffs are currently contained, supporting the narrative of a “soft landing” for the economy amid ongoing growth.
🔥UPDATE: Just 7 days ago, markets priced a December rate cut at 30%. Today? 85% even @jpmorgan piling on – confirms the cut!What changed, you ask?🎯NY Fed’s Williams (Powell’s right-hand) signaled openness to cuts🎯Sep jobs report showed weakness (119K vs expected)…— PaulBarron (@paulbarron) November 27, 2025
Meanwhile, the momentum in the U.S. technology sector has also played a crucial role in extending Wall Street’s winning streak. On Wednesday, major US equity benchmarks achieved their fourth consecutive day of gains, pulling back into growth stocks. Notable earnings reports, particularly from Nvidia, have fueled investor enthusiasm, as the tech giant reinforced demand for AI infrastructure. Dell Technologies further contributed to this momentum by exceeding revenue forecasts, helping to bolster positive sentiment around the broader AI sector. It begs the question: Is there any stopping the AI juggernaut?
In the cryptocurrency realm, traders remain keenly aware of macroeconomic trends while also keeping a watchful eye on market charts. Piyush Walke, a derivatives research analyst at Delta Exchange, provided some insights into Bitcoin’s technical positioning. Currently, Bitcoin is lingering just below its 50-day and 200-day simple moving averages, facing resistance around the $93,000 mark. He noted that Ethereum has recently rebounded off a crucial long-term support trendline, and a firm close above the $3,000 to $3,050 area could set the stage for a climb toward $3,200—$3,300.
As trading begins in Asia, the improving risk appetite is reflected in the performance of equity markets. The MSCI index tracking Asia Pacific shares outside Japan saw a rise of about 0.27%, poised to end a three-week losing streak. Japan’s Nikkei and South Korea’s Kospi experienced increases of more than 1% in early trading. However, the property sector in China remains a point of concern among investors. Notably, major developer China Vanke has requested to delay repayment on an onshore bond worth approximately 2 billion yuan (about $282.6 million). This illustrates the ongoing challenges facing the real estate market amid broader economic recovery efforts.
In summary, with Bitcoin now back above the coveted $90,000 mark, a resurgence in tech stocks, and the anticipation of a Federal Reserve rate cut, Asian markets are opening with a cautious but optimistic appetite for risk. As we move forward, the question remains: will this momentum carry through, or are we in for another twist in the ever-evolving saga of global finance? Stay tuned!