Asia Market Open: Bitcoin Steadies Near $109K As Wall Street Gains On Strong Tech Earnings

Market Overview - Bitcoin is holding near $109,000, with a calmer tone in the market following a volatile week for digital assets [1] - Asia-Pacific stocks opened higher, led by Japan, as investors reacted positively to signs of easing US-China trade tensions [1] - The Nikkei 225 rose over 1% to a record high, while the Topix added 0.79%, also reaching a new peak [1] Tech Sector Performance - Upbeat earnings from Amazon and Apple have buoyed Wall Street futures, with Nasdaq futures jumping 1.2% and S&P 500 futures gaining 0.6% [3] - Amazon's results led to a 13% increase in its shares, adding over $300 billion in market value [3] - Apple's iPhone outlook exceeded estimates, contributing to a 2.3% rise in its stock [3] Cryptocurrency Market Dynamics - Crypto ETF flows indicate a cautious backdrop, with US Bitcoin spot ETFs experiencing a net outflow of $488 million on October 30 [5] - Ethereum spot ETFs also saw a net outflow of $184 million, while Solana spot ETFs recorded a net inflow of $37.33 million, marking three consecutive days of inflows [5] Central Bank Influence - Central bank meetings this week largely met forecasts, but Fed Chair Jerome Powell's comments led to a reassessment of rate cut expectations [6] - Traders are scaling back bets on further Federal Reserve rate cuts, with a noted 2.37% decline in the sector following the Fed's remarks [7] - Open interest in derivatives fell nearly 5%, indicating increased short positioning in the market [7] Cryptocurrency Market Metrics - Current Bitcoin price is $109,747, reflecting a 0.7% increase, while Ether is at $3,861, down 1.2% [8] - The total cryptocurrency market capitalization stands at $3.76 trillion, down 0.2% [8]