Bitcoin Demand Cools While “Crypto Capital is Getting More Selective,” OKX’s Gracie Lin Warns
Good Morning, Asia. Here’s what’s making news in the markets:
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.
Bitcoin steadied in Asia Thursday at $114,610 (+1.4%), clawing back some ground after last week’s slide, while ether outpaced with a 5.8% jump to $4,370.73 as investors rotated selectively across the market.
The CoinDesk 20, a measure of the performance of the largest crypto assets, is up 3.5%, trading above 4,078.
OKX Singapore CEO Gracie Lin said in a note to CoinDesk that the rising ETH/BTC ratio shows capital shifting into ether’s relative strength while Bitcoin…
