In a world where digital currencies dance on the edge of uncertainty, Bitcoin's stubborn hold around $90,000 amid drained liquidity and a fully anticipated Federal Reserve rate cut is sparking major debates. But stick around—this is just the beginning of a story that could redefine global finance as we know it.
Welcome to our Asia Morning Briefing, your go-to daily roundup of the hottest stories buzzing during U.S. trading hours, complete with insights into market shifts and expert analysis. If you're craving a deeper dive into U.S. markets, check out CoinDesk's Crypto Daybook Americas at https://www.coindesk.com/daybook-us.
Imagine Bitcoin teetering near that magical 90k mark after a weekend of wild, yet fleeting, price swings that laid bare the scarcity of liquidity as the year winds down. It's a reminder of how fragile the crypto landscape can be when trading volume dries up.
As we delve deeper, here's where it gets intriguing: In a recent report from QCP (available at https://www.qcpgroup.com/insights/asia-colour-179/), they've pointed out that perpetual open interest—think of it as the total value of bets on Bitcoin and Ethereum's future prices—has plummeted by almost 50% since October. For beginners, this means the market's capacity to handle big directional bets, like those driving prices up or down, is significantly weakened, making it harder for traders to execute large moves without causing ripples.
Meanwhile, Polymarket (check it out at https://polymarket.com/dashboards/fed-rates) reveals that bettors have already factored in this week's expected 25 basis point rate cut from the Fed, and they're betting on a pause in January. This suggests investors are gearing up for a gentle easing of monetary policy rather than a full-blown cycle of cuts.
Putting it all together, this combo keeps Bitcoin stuck in a tight range due to sluggish activity, and any big price jumps are more likely to stem from unexpected guidance than the rate decision itself.
But here's the part most people miss: The real game-changer might be the growing divide in signals from major central banks. The Bank of England is split on its approach, the European Central Bank is staying tough, and the Bank of Japan is gearing up to tighten policies at yield levels not seen since 2007—all as rising tensions simmer in key Asian economies. Gracie Lin, CEO of OKX Singapore, shared this in an interview with CoinDesk, emphasizing that this divergence creates an uneven playing field for global capital.
Lin went on to explain how recent liquidations of leveraged positions—where traders close out borrowed bets—have cleaned up market structure by eliminating overly crowded trades. This reset allows prices to breathe and adjust naturally, enabling Bitcoin to rebound toward 91k as investors navigate these mixed macroeconomic cues. For those new to this, leveraged positions are like using borrowed money to amplify bets; their removal prevents forced sell-offs that could crash prices.
All in all, the market's trajectory will pivot on how traders decode the Fed's upcoming words and this broader policy rift, rather than the rate cut that's already baked into the cake.
Now, let's talk market movements to keep things grounded:
BTC: Bitcoin slid back to around $90,000 on Monday after U.S. trading wiped out a short-lived weekend rebound, trapping the asset in a narrow band as climbing bond yields and weakening stocks squeezed riskier investments.
ETH: Ether dipped modestly with the rest of the market but kept its edge, outperforming relatively and hitting its strongest point against Bitcoin in over a month.
Gold: The precious metal ticked down on Monday as traders held their breath before the Fed's meeting, with odds heavily favoring a rate cut and eyes on Chair Powell's hints about future steps.
Nikkei 225: Asian-Pacific stocks fell on Tuesday, mirroring Wall Street's drop, as investors braced for the anticipated 25 bp Fed cut and hungered for clues on the central bank's roadmap.
Shifting gears to other crypto news:
40% of Canadian Crypto Users Flagged for Tax Evasion Risk, Canadian Tax Authority Reveals (from CoinDesk at https://www.coindesk.com/policy/2025/12/08/40-of-canadian-crypto-users-flagged-for-tax-evasion-risk-canadian-tax-authority-reveals)
Ondo Finance Says Biden-Era SEC Investigation Closed With No Charges (via Decrypt at https://decrypt.co/351509/ondo-says-biden-era-sec-investigation-closed-no-charges)
And for more reading:
Protocol Research: GoPlus Security
Dated Nov 14, 2025
Key takeaways:
By October 2025, GoPlus racked up $4.7 million in total revenue from its various offerings. The GoPlus App leads the pack, generating about $2.5 million (roughly 53% of the total), with the SafeToken Protocol close behind at $1.7 million.
GoPlus Intelligence's Token Security API handled an average of 717 million monthly calls so far in 2025, peaking at almost 1 billion in February. On top of that, blockchain-level requests—like simulating transactions—averaged an extra 350 million per month. Imagine this as a security guard checking digital wallets for risks; it's become a go-to tool for protecting crypto assets.
Ever since launching its $GPS token in January 2025, it has seen over $5 billion in spot volume and $10 billion in derivatives in 2025 alone. Spot trading peaked in March at more than $1.1 billion, with derivatives hitting over $4 billion that same month. For context, derivatives are like advanced bets on price movements, amplifying opportunities but also risks.
Dive into the full report at https://www.coindesk.com/research/protocol-research-goplus-security.
One more for you:
Dogecoin Holds $0.14 Floor as Network Activity Hits 3-Month High
Posted 13 minutes ago
Key insights:
Dogecoin celebrated its 12th anniversary, yet the hype was low-key, with attention turning to technical charts and on-chain activity instead.
The meme coin has been trading in a compressed range, showing steady buying at the bottom and hints of a potential upward surge.
Increasing active addresses—users engaging with the network—and narrowing volatility suggest a big move could be brewing, with $0.16 as the key level to watch for a breakout. Think of active addresses as people actively using the coin; more engagement often signals growing interest.
Read the complete piece at https://www.coindesk.com/markets/2025/12/09/dogecoin-holds-usd0-14-floor-as-network-activity-hits-3-month-high.
But here's where it gets controversial: Is this central bank divergence a deliberate strategy to stabilize global economies, or a recipe for chaos that could lead to unintended consequences like inflation surges or market crashes? Some experts argue it's a coordinated effort to prevent a repeat of past crises, while others see it as a dangerous gamble that leaves emerging markets vulnerable. What do you think—does this uneven policy landscape spell opportunity for savvy crypto traders, or is it a ticking time bomb for the wider economy? Share your thoughts in the comments; I'd love to hear if you agree with Lin's view on the market reset or if you see a different path ahead!
