Asia Morning Briefing: Bitcoin's Weak Structure Amidst Industry Strengthening
Bitcoin and Ether have seen declines, with BTC down 3% and ETH down 5.6%, reflecting a week of weakness across major cryptocurrencies. Experts express mixed views on market trends; while some see fragile positioning due to fading momentum and profit-taking pressure, others, like Enflux, argue that the industry is maturing more rapidly than price fluctuations suggest. Notable developments include Google's acquisition of a stake in minor TeraWulf and Wyoming launching a state-backed stablecoin, indicating alignment with a regulatory framework. As traders await insights from the Federal Reserve's upcoming meetings, global markets are mixed, with Bitcoin trading around $113,000. The contrasting perspectives indicate a divergence in sentiment, framed as either cautious or optimistic about the crypto market's future trajectory.
Source 🔗