Bitcoin Holds $91k as Nikkei Hits Record High Amid Global Risk Rally
Bitcoin stabilized NEAR $91,000 as Asian markets surged, with Japan's Nikkei 225 climbing 3.6% to a historic 53,814.79. The rally followed Wall Street's momentum and speculation about potential fiscal stimulus ahead of a possible snap election.
The weaker yen boosted export-heavy Japanese equities, particularly chip and auto stocks, with 209 of 225 Nikkei components advancing. Crypto markets showed modest declines, with total capitalization dipping 1.3% to $3.18 trillion.
Market participants now await US macroeconomic cues for directional bias, as the crypto sector maintains its correlation with traditional risk assets. 'When the Nikkei sneezes, crypto catches a cold,' remarked a Tokyo-based trader, highlighting the ongoing interplay between equities and digital assets.
