Asia Morning Briefing: BTC Holds Ground as Traders Sit on Stablecoins Before Fed Decision

In early Asia trading, Bitcoin steadied around $112,100, reflecting a slight 1.8% decrease over the past 24 hours but a notable 3.4% increase for the week. Traders are notably cautious ahead of the Federal Reserve's impending rate decision. Gold has dipped to a three-week low of nearly $3,950, influenced by easing U.S.-China tensions and traders taking profits, while expectations of a Fed rate cut persist. Japan's Nikkei 225 climbed over 1% to surpass 51,000, highlighting mixed trading sentiment across Asia as investors speculate on a dovish Fed stance. Market makers like Enflux commented that capital appears to be shifting from metals to Bitcoin, indicating potential increased interest in digital assets as a store of value. Meanwhile, traders are accumulating USD stablecoins, creating liquidity conditions conducive for a potential breakout, with the $110,000 level serve as significant short-term support for Bitcoin.

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