Asia Market Open: Bitcoin Softens Around $95K As AI Buzz Lifts Asian Shares

Market Overview - Bitcoin is trading around $95,000, reflecting a calmer macro market and renewed interest in artificial intelligence stocks across Asia [1] - Regional equities are rising, nearing record levels, with a focus on semiconductor gains following strong results from Taiwan Semiconductor Manufacturing Co [1][2] Policy Developments - The US and Taiwan have announced a trade deal that reduces tariffs on various Taiwanese exports, aiming to increase investment in US technology supply chains, which is seen as beneficial for the semiconductor ecosystem [2] - Wall Street experienced gains led by technology and financial shares, indicating sustained risk appetite despite reduced expectations for immediate Federal Reserve rate cuts [2] Bitcoin's Market Role - Bitcoin is transitioning towards a reserve-style asset, moving away from its previous "high-beta" status, with trading firmly between $90,000 and $100,000 [4] - The cryptocurrency is now viewed as a macro hedge against central-bank volatility, with its market dominance stabilizing at 57%-58% as capital flows into neutral reserve assets [4] Currency and Commodity Trends - In Japan, the Nikkei index fell by 0.42% as the yen strengthened, with local political developments being monitored ahead of a potential snap election [5] - Commodities have seen a cooling trend, with oil prices declining and gold and silver prices dipping following geopolitical developments in Iran [6] - Current cryptocurrency prices include Bitcoin at $95,496 (down 0.8%), Ether at $3,301 (down 0.4%), and XRP at $2.08 (down 1.3%), with the total crypto market cap at $3.31 trillion (down 0.3%) [6]