Global markets focus on tech stocks and gold! Bitcoin falls below $112,000, $63 billion in encryption market capitalization evaporates.

After being dominated by the threat of the China-U.S. trade war for most of this week, Asian stock markets have shifted their focus to technology stocks, pushing regional indices up more than 1.1%. Meanwhile, gold surged to over $4242 per ounce due to trade friction and expectations of interest rate cuts, with a rise of more than 60% this year. The cryptocurrency market, however, faced a new round of bearish pressure, with total market capitalization dropping by $63 billion in the past 24 hours to $3.74 trillion. Bitcoin struggled to maintain the key psychological support level of $110,000, but Synthetix (SNX) plummeted nearly 20% due to massive capital outflows.

Global Macroeconomics: Technology Stock Rebound and Gold Surge Under the Shadow of the Trade War

Investors are learning to adapt to political fluctuations, refocusing on company profit drivers, while demand for safe-haven assets reaches historical highs.

· Asian technology stocks lead the rise

After Dutch chipmaker ASML Holding NV released its earnings report, optimism about the ability of the artificial intelligence (AI) boom to drive corporate profits has reignited, leading investors to re-bet on tech stocks.

MSCI Asia Index rose by more than 1.1%, with China's ZTE Corp. rising by as much as 10% in Hong Kong, and South Korean chipmaker SK Hynix Inc. soaring by 6.9%.

Fabiana Fedeli, Chief Investment Officer of M&G Investments, stated that investors have become accustomed to “political fluctuations” and that unless political factors harm corporate earnings, they will not affect risk markets.

· Gold surged over 60%

Due to the renewed escalation of trade friction between China and the United States and expectations for further interest rate cuts by the Federal Reserve, the price of gold has soared to $4242 per ounce, an increase of over 60% this year.

The Bloomberg Dollar Index fell for the third consecutive day, providing momentum for the rise in gold.

· Geopolitical tensions are rising again

U.S. President Donald Trump said that the U.S. is “caught in a trade war with China,” while Treasury Secretary Scott Bessent hinted that a long-term truce might be reached, leading to increased market volatility.

Crypto Assets Market Under Pressure: Total Market Capitalization Shrinks and SNX Sees Significant Correction

The Crypto Assets market is affected by macro uncertainty, with total market capitalization and major altcoins showing bearish pressure, although Bitcoin remains resilient.

· Total market capitalization decreased by 63 billion USD

In the past 24 hours, the total market capitalization of the Crypto Assets market (TOTAL) has fallen by 63 billion dollars to 3.74 trillion dollars, reflecting investors' cautious sentiment amid macroeconomic uncertainty.

If the bearish momentum continues, the total market capitalization may further decline to 3.67 trillion dollars or 3.58 trillion dollars.

· Bitcoin holds the $110,000 support

The Bitcoin price is trading at $111,520, holding the key psychological support level of $110,000.

The Relative Strength Index (RSI) continues to show active bearish momentum, suggesting that sellers remain dominant.

If the price falls below 110000 USD, it may test 108000 USD. If it can rebound from 110000 USD, it may break through 112500 USD and head towards 115000 USD.

· A large outflow of funds from Synthetix (SNX)

SNX has experienced a big dump of nearly 20% in the past 24 hours, becoming the worst-performing altcoin of the day, with a trading price of 1.64 dollars.

• Chaikin Money Flow (CMF) indicator has fallen below the zero line, indicating a large outflow of funds from SNX and a decrease in liquidity.
• If it falls below the 1.60 USD support level, SNX may further fall to 1.27 USD.

Industry News: Crypto Banks Approved and MiCA Stablecoin Launched

As the market fluctuates, the infrastructure of the encryption industry continues to develop, with regulation and institutional participation deepening.

· US crypto bank approved

The Office of the Comptroller of the Currency (OCC) has granted Erebor Bank a pre-approved national charter, a digital lending institution focused on encryption, supported by Palmer Luckey, Joe Lonsdale, and Peter Thiel, with a capital of $275 million.

· MiCA compliant Euro stablecoin launched

French banking giant ODDO BHF has launched the euro-backed stablecoin EUROD in compliance with EU MiCA regulations.

Conclusion

In the global market, tech stocks are rebounding thanks to the AI narrative, while gold has reached new highs due to geopolitical risks and expectations of interest rate cuts. However, Bitcoin and the broader crypto market are experiencing a new wave of bearish pressure, with a total market capitalization shrinking by 63 billion dollars in 24 hours. Although Bitcoin is currently holding the critical defense line of 110000 dollars, the massive capital outflow and big dump of altcoins like SNX remind investors to remain cautious amidst ongoing macro uncertainty. Investors should closely monitor the support level of 110000 dollars and whether market sentiment can reverse.

This article is news information and does not constitute any investment advice. The crypto market is highly volatile, and investors should make cautious decisions.