Bitcoin and gold pare losses as oil near $100 keeps inflation risk in focus

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Bitcoin and gold pare losses

Highlights

Bitcoin rebounds to nearly $82,000 in Asian trading after falling below $81,000, triggering $435 million in crypto futures liquidations, including $385 million in bullish bets.
Gold rises back to $4,020 per ounce from an early low of $3,986, while major Asian equity benchmarks and Nasdaq futures recover from initial session declines.
WTI oil futures hold near $100 despite U.S. action to boost fuel production, sustaining inflation risk, as spot bitcoin ETFs see $381 million in outflows on Thursday.

Market rebound in Asian trading

As reported by CoinDesk, bitcoin recovers to nearly $82,000 in Asian trading after falling below $81,000 overnight, while gold, Asian stocks and Nasdaq futures also rebound as the Japanese yen gives up its earlier gains.

About $435 million in cryptocurrency futures positions are liquidated over 24 hours, including $385 million in bullish bets, as bitcoin tests its 50-day simple moving average, a closely watched indicator of near-term momentum. Other digital assets, including ether, XRP, solana and dogecoin, post similar intraday moves.

Gold rises back to $4,020 per ounce from an early low of $3,986, a level last seen on July 29. Major Asian equity benchmarks, including Japan's Nikkei and South Korea's Kospi, also recover from session lows, while Nasdaq futures gain 0.17% to 29,190 from 29,022 earlier in the day.

Oil and fund flows weigh on outlook

The earlier risk-off tone strengthens when the yen climbs to 156.07 per U.S. dollar, its highest level since Sept. 18, after stronger-than-expected Japanese inflation data reinforces expectations for further Bank of Japan rate hikes. That currency move proves short-lived, however, with the yen quickly slipping back toward 157 per U.S. dollar.

WTI futures trade near $100 even after U.S. President Donald Trump invokes a Cold War-era law intended to boost fuel production, and the move does not materially cool prices. A sustained rise in oil could feed global inflation and pressure risk assets more broadly.

Demand for spot bitcoin exchange-traded funds also remains weak, limiting the case for a sharper advance in crypto prices. U.S.-listed spot bitcoin ETFs record $381 million in outflows on Thursday, according to preliminary data from SoSoValue.

In our earlier coverage of the AI-linked tech selloff, we explained how hotter-than-expected inflation data reignited interest-rate fears and weighed on Nasdaq futures as investors reassessed the cost of funding large-scale AI spending. We also noted that pressure on major tech names and chipmakers was compounded by higher bond yields and growing expectations for additional Fed hikes.

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