Bitcoin markets are beginning to act with caution this week. According to the analytical platform CryptoQuant, Bitcoin has continued to hold between $112,000 and $113,000. Tightened volatility is being maintained in this particular range; downward risks are located around $107,000-108,000, while upwards pressure is placed near $11,0008-122,000. Investors continue to await pivotal U.S. data that might guide the next big move.
The on-chain data and activity in the derivatives market also suggest this lack of momentum. In the meantime Binance funding rates have flipped to neutral/negative, suggesting that traders have already unwound de-risking.
Source: X
Liquidation maps show very-well outlined stop zones, and that means any movement after the data would be more of a stop-hunt rather than an established trend. This caution comes as investors await U.S. economic data due later this week.
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U.S. data, Jobless Claims, GDP and Durable Goods Orders on Thursday will set the tone for the market. Friday’s Core PCE and consumer figures will help determine the weight of cutting.
As long as these reports are not released, there is a good chance the markets will remain within their current scope. This wait-and-see approach mirrors the wider climate of uncertainty that currently surrounds global crypto trends.
There is also a global tendency in crypto markets that supports the change. And Asia-Pacific (APAC) is still leading the charge. Trading-sourced data from Chainalysis shows that trading volume in APAC surged 69% in 2025.
This spike — from $1.4 trillion to $2.36 trillion — speaks volumes about how Asia is now fuelling global crypto activity. The region’s expansion is head and shoulders above Latin America’s and Sub-Saharan Africa’s.
Korean Premium Index by CryptoQuant has sustained positive spreads for Bitcoin in South Korea. Prices of Bitcoin in Korea are always trading high above the global average, indicating strong retail and speculative demand. APAC’s surging dominance at play It is evident that APAC’s increasing share of demand has been driving the rise in cryptocurrency markets within Asia.
Source: X
Exchanges, including Binance and OKX, have had more than 30 times the deposit growth as U.S. platforms such as Coinbase. The US exchange share has decreased, which is a sign of a deeper shift in liquidity. In the East, institutional and retail capital is becoming increasingly concentrated in Asia, redrawing the balance of global crypto power.
Source: X
Institutional participants, meanwhile, are also buying insurance against the risk of a market downturn. The CME futures spread between open interest on October and November expires was extremely pronounced.
Source: X
This is an indication that institutional investors are getting ready for a macroeconomic change. Options data from the CME shows increasing interest in both puts and calls, which could be a sign that volatility — rather than any one direction — is being priced into the market.
Source: X
The trend is being fueled by a strategy known as “long gamma.” When puts and calls are both purchased, dealers must hedge on both sides. Bitcoin, as a consequence, remains range bound. In any case, a meaningful macro shock can break this price band. In other words, it means Bitcoin will stay neutral until data shows a large enough surprise to break prices one way or another.
In a larger world view, crypto adoption worldwide is far from uniform. APAC is very much ahead of the curve here. Now the fulcrum of global growth in cryptoland, with trading volume and demand skyrocketing, is Asia.
Indeed, as emerging markets across Asia and beyond continue to grow at unprecedented speeds, it is becoming clear that the future of crypto is emerging in cities like Seoul, Singapore and Hong Kong.
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