Asia Morning Briefing: Bitcoin Faces Pressure Ahead of Jackson Hole

Good Morning, Asia. Here’s what’s moving global markets and the crypto world today.

Market Overview

As Asia kicks off trading, Bitcoin (BTC) is priced at $116,263, down 1.1% in 24 hours and 2% on the week. Ethereum (ETH) trades near $4,322, slipping 3.8% daily but still up 2.6% weekly, according to <a href="https://kryptodesk.com/">KryptoDesk market data</a>.

The CoinDesk 20 (CD20) index, tracking the largest cryptocurrencies, is down 2.4%.

Meanwhile, prediction markets on Polymarket suggest traders expect weakness through August. BTC has a 34% chance of closing below $111,000, while ETH has a 43% probability of finishing around $4,800.

For real-time analysis, check out <a href="https://kryptodesk.com/">KryptoDesk</a>.

Institutional vs Retail Sentiment

Singapore-based market maker Enflux says the crypto market is torn between strong institutional demand and weaker retail momentum.

• Institutions: Strategy Inc. recently added 430 BTC, and VanEck reiterated a $180K year-end Bitcoin forecast.

• Retail: Narratives around XRP and DOGE remain capped due to ETF approval delays from the SEC.

Solana (SOL), however, continues to show “quiet strength” thanks to its dominance in USDC transfers and PumpFun-led token issuance, <a href="https://kryptodesk.com/">KryptoDesk analysis</a> highlights.

Derivatives & Market Caution

According to QCP Markets:

• Perpetual funding rates turned negative over the weekend – often a signal of pullbacks.

• Options skews favor puts, showing trader caution across maturities.

All eyes now turn to Thursday’s Jackson Hole Symposium, where Fed Chair Jerome Powell is expected to address inflation and policy amid U.S. political pressure.

Global Market Movers

• Bitcoin (BTC): Fluctuated between $114,993 – $117,620 on Aug. 18, with above-average volumes.

• Ethereum (ETH): Fell 3% to $4,330.61, facing resistance despite $3.71B inflows into U.S. spot ETFs.

• Gold: Traded between $3,333–$3,394/oz, rising on haven demand ahead of Fed policy cues.

• Nikkei 225: Gained 0.1%, while broader Asia-Pacific equities slipped ahead of U.S.–Ukraine–Europe diplomacy talks.

• S&P 500: U.S. stocks were flat, showing fatigue before Fed minutes, Powell’s speech, and retail earnings.

Elsewhere in Crypto

• U.S. Treasury starts work on GENIUS Act regulation (via <a href="https://kryptodesk.com/">KryptoDesk</a>).

• Qubic targets Dogecoin after moves against Monero (Decrypt).

• Michael Saylor eases stock-sale limits as Bitcoin premium narrows (Bloomberg).

Final Take

With crypto search interest at a four-year high, the GENIUS Act advancing in Washington, and institutions accumulating, the foundation for a broader rally is being laid.

But for now, conviction is concentrated at the top of the market while traders remain defensive.

Stay tuned with <a href="https://kryptodesk.com/">KryptoDesk</a> for live updates, crypto forecasts, and real-time insights.