Bitcoin and gold recovered part of their early losses during Asian trading on Friday as the Japanese yen surrendered an initial advance and regional equities rebounded. The moves offered some relief across risk-sensitive markets, although oil prices near $100 and continued withdrawals from spot bitcoin exchange-traded funds remained obstacles to a stronger recovery.
According to CoinDesk, bitcoin climbed back toward $82,000 after falling below $81,000 overnight. The largest cryptocurrency by market value was testing its 50-day simple moving average, a widely watched technical measure used by market participants to assess near-term price momentum. Ether, XRP, Solana and Dogecoin also moved higher alongside bitcoin.
The rebound came as Asian stocks recovered from their session lows. Japan’s Nikkei and South Korea’s Kospi both improved, while Nasdaq futures rose 0.17% to 29,190 after earlier trading at 29,022. Gold, which is often treated as a haven during periods of market uncertainty, also moved higher, reaching $4,020 an ounce after touching $3,986 earlier in the session. That early low was the metal’s lowest level since July 29.
Yen reversal eases pressure on risk assets
The initial market tone had been more defensive. The yen strengthened to 156.07 per U.S. dollar, its strongest level since Sept. 18, after hotter-than-expected Japanese inflation data increased expectations that the Bank of Japan could raise interest rates further. The currency also benefited from demand for assets viewed as safer amid concerns related to artificial intelligence.
A stronger yen can affect markets well beyond Japan because the currency has long been used to finance carry trades. In such trades, investors borrow in a currency with relatively low funding costs and use the proceeds to buy assets perceived to offer higher returns. When the funding currency strengthens, those positions can come under pressure, potentially encouraging investors to reduce exposure to riskier assets.
In this case, however, the yen’s advance did not last. The currency quickly weakened back toward 157 per U.S. dollar, coinciding with the recovery in Asian stocks, bitcoin, gold and Nasdaq futures. The reversal helped reduce the intensity of the early risk-off move, although it did not remove the broader uncertainties facing markets.
Crypto liquidations show the cost of leverage
The shift in bitcoin prices followed a sharp wave of forced closures in the crypto derivatives market. About $435 million of cryptocurrency futures positions were liquidated over the previous 24 hours, including $385 million in long positions.
Long positions are bets that prices will rise. Their liquidation indicates that many traders had been positioned for further gains and were forced out as prices fell. The scale of long liquidations also suggests that leverage had been tilted toward the bullish side before bitcoin’s decline.
Bitcoin’s test of its 50-day moving average adds significance to the price action for traders who follow technical indicators. A moving average smooths recent price movements and is commonly used as a reference for evaluating momentum. The source material does not establish whether bitcoin will hold or break that level, but the test underscores the sensitivity of the market after the overnight drop.
The broader recovery also remained incomplete. Demand for U.S.-listed spot bitcoin ETFs was weak on Thursday, with the funds recording $381 million in preliminary outflows, according to SoSoValue. Spot bitcoin ETFs hold the underlying asset and allow investors to gain exposure through exchange-traded products. Persistent outflows can remove an important source of buying demand, making it harder for a price rebound to develop into a wider rally.
Oil keeps inflation concerns in focus
Energy prices represented another constraint on the market recovery. West Texas Intermediate crude futures traded near $100 even after U.S. President Donald Trump invoked a Cold War-era law intended to increase fuel production. The action had not materially cooled oil prices at the time covered by the report.
Oil at such elevated levels matters for financial markets because a sustained rise in energy costs can add to inflationary pressure. Higher inflation can, in turn, affect expectations for interest rates and weigh on assets that are sensitive to economic and financial conditions. The combination of expensive oil and uncertain demand for spot bitcoin ETFs therefore left the broader risk rebound vulnerable.
Moneyiar market picture
Moneyiar data at 08:03 on October 24, 2026, showed bitcoin at $80,668.05, down 1.03% over 24 hours and 1.16% over seven days. NEAR Protocol traded at $4.5684, down 7.15% in 24 hours and 10.23% over seven days. RedStone was at $0.1501, up 6.68% over 24 hours and 5.47% over seven days. Infinity Ground stood at $0.1025, down 31.28% over 24 hours but up 48.10% over seven days.
These figures indicate that the market picture remained mixed after the Asian-session rebound described in the report: bitcoin was still lower over both measured periods, while individual digital assets recorded sharply different performances.
