Asia Traders Lift Bitcoin After Global Market Turmoil; Crypto and Equities Show Early Recovery

Global markets showed signs of stabilization Monday as Asian investors resumed risk-taking, lifting major cryptocurrencies and equities after a turbulent end to last week.

Bitcoin ticked up about 1%, trading near $78,600 in Asian morning hours — marking its third consecutive day of gains following the sharp sell-off in U.S. tech stocks on Friday.

Cryptocurrencies

ZEC led the large-cap crypto set, rising roughly 3% to nearly $1,280. Ether and BNB each climbed about 2%, with ether just above $2,300 and BNB near $713. XRP and TRX advanced around 1%, while SOL remained largely flat at approximately $95, according to CoinDesk data.

Market participants were still digesting last week’s incident at Binance, where a reported $6.3 billion theft — the largest exchange hack on record — contributed to the earlier downturn. Bitcoin briefly dropped to about $77,600 late Sunday before rebounding above $78,500 within hours.

Equities and Commodities

U.S. tech names suffered a painful Friday: the Nasdaq 100 plunged about 3.5%, its worst single-day drop since June, while the Philadelphia Semiconductor Index fell roughly 7%. On Monday, futures for the S&P 500 and Nasdaq 100 were higher by at least 0.4%, and regional benchmarks in South Korea, Hong Kong and Japan climbed. Chinese stocks also gained after reports that regulators will meet banks and brokerages to discuss potential market-support measures.

Energy and precious metals moved decisively: Brent crude eased about 3% to near $110 a barrel amid reports that President Donald Trump prefers diplomacy with Iran for now, potentially delaying military strikes after Tuesday’s midterms. Meanwhile, gold rallied roughly 1% to near $3,910 an ounce, recovering from last week’s one-year low close.

Market Drivers and Outlook

Jeff Mei, chief operating officer at crypto exchange BTSE, warned that recent Federal Reserve guidance suggests macro pressures will likely keep interest rates elevated, which could suppress liquidity for Bitcoin and other cryptocurrencies in the coming months.

Mei added that short-term movement will depend in part on tech stocks: a modest rebound in tech could indicate a bottom has been reached, presenting a potential buying opportunity for Bitcoin now trading below the $80,000 threshold.

The CLARITY Act remains a key policy item to watch — it aims to clarify regulatory boundaries for U.S. crypto markets and assign oversight responsibilities for different tokens to federal agencies.

U.S. midterm election results, which will start arriving Wednesday during Asian trading hours after polls close Tuesday night, also pose a significant market catalyst. Mei noted that political outcomes could influence the timeline for the Iran conflict, energy prices and inflation — all of which would feed back into equity and crypto performance. If Democrats secure a congressional majority, that could accelerate an end to the Iran confrontation, depress oil prices and ease inflationary pressure, potentially boosting stocks and cryptocurrencies.