Asia Morning Briefing: BTC Tests Its Floor as Legacy Sellers Meet Macro Rotation

Why It Matters

The price hold underscores Bitcoin’s structural resilience even as risk capital flows to traditional assets, shaping the risk‑on/off narrative for investors. Ripple’s deal highlights ongoing institutional consolidation, signaling potential growth in crypto‑enabled payment services.

Summary

Bitcoin steadied around $106,500 in Asian trading, keeping above the $100,000 support despite a month‑long slide that erased roughly 13% of its value. Market makers are split on the cause: Enflux cites a macro‑driven rotation of liquidity back into equities, while QCP Capital points to profit‑taking by legacy holders, noting about 405,000 BTC moved to exchanges in the past month. On‑chain data shows the market absorbed this legacy supply without breaking key support, and leverage remains low. Meanwhile, Ripple’s acquisition of wallet firm Palisade aims to deepen its institutional payments footprint as the broader crypto sector consolidates.