Key Takeaways

Bitcoin (BTC) holds near $110,000;Ether (ETH) trades around $3,880 as markets stabilize after last week's Fed-driven selloff. Flow Desk reports cautious buying in BTC, HYPE, and SYRUP tokens, while Solana-linked assets continue to underperform. Around $155 million in crypto derivatives were liquidated in the past 24hours — a moderate deleveraging event, not a panic. Traders are re-entering risk positions slowly, with many now under exposed should the market rebound.

Market Overview

Good morning, Asia — and welcome to your daily Asia Morning Briefing, offering an early look at crypto and global markets as trading begins across the region.

As the Hong Kong business week opens, Bitcoin trades just above $110,000, while Ether hovers near $3,880.Both remain lower for the month (BTC –10%, ETH –14%) following the Federal Reserve’s latest policy update.

Flow Desk notes that traders are focusing on short-term trades and portfolio rebalancing rather than new risk-taking.

Despite the caution, there’s net buying in BTC and select cash-flow or buyback-linked tokens like HYPE and SYRUP, while Solana assets lag behind Flow Desk adds that with recent deleveraging, positioning looks “cleaner”, meaning traders could be underexposed if a rebound occurs.

Derivatives & Sentiment

Sentiment in the derivatives market remains cautious but stable. According to CoinGlass, about $155 million in crypto derivatives were liquidated in the last 24 hours —including $97M in longs and $58M in shorts. Analysts view this as a moderate flush of leverage rather than a fear-driven capitulation.

While spot volatility has cooled, Flow Desk highlights continued put skew and preference for put buying/call selling in BTC and ETH options.
If markets hold steady, cheap risk reversals could emerge as an attractivestrategy heading into year-end.

On the credit side, demand for altcoin borrowing remains strong as traders hedge or arbitrage funding imbalances. DeFi lending rates on Ethereum have slipped to 5.3%, down from 5.6% last week, signaling easing funding pressure.