Asia Market Open: Bitcoin Dips Under $88K, Gold Hits Record Above $5K As Yen Hits Two-Month Peak

Bitcoin dipped under $88,000 as Asia opened to mixed trade, with investors leaning into safety and pushing gold to a record above $5,000 an ounce.

In China, stocks moved in different directions. The Shanghai index rose 0.12%, and China A50 gained 0.49%, while the SZSE Component slid 0.74% and DJ Shanghai eased 0.09%. Hong Kong’s Hang Seng edged up 0.04%.

Gold extended a rally that has reshaped the commodity market. Spot gold rose 1.79% to $5,071.96 an ounce by 0159 GMT after touching $5,085.50 earlier, and US gold futures for February delivery gained 1.79% to $5,068.70.

Market snapshot

• Bitcoin: $87,781, down 1.3%
• Ether: $2,867, down 2.6%
• XRP: $1.89, down 0.6%
• Total crypto market cap: $3.04 trillion, down 1.4%

Greenland Tariff Threat Rolled Back As Trade Risks Linger

Investors have treated the metal as a refuge through shifting policy expectations and geopolitical stress. Prices surged 64% in 2025, and they have gained more than 17% this year, supported by safe-haven demand, expectations of easier US monetary policy, central bank buying and ETF inflows.

President Donald Trump’s trade threats stayed in focus. He abruptly stepped back on Wednesday from threats to impose tariffs on European allies as leverage to seize Greenland, and he said over the weekend he would impose a 100% tariff on Canada if it followed through on a trade deal with China.

He has also threatened to hit French wines and champagnes with 200% tariffs in an apparent effort to pressure French President Emmanuel Macron into joining his “Board of Peace” initiative.

Some observers fear the board could undermine the United Nations’ role as the main global platform for conflict resolution, though Trump has said it will work with the UN.

US Futures Ease After Volatile Week Marked By Trade Risks

Currency markets also turned volatile. The yen jumped to more than a two-month high on speculation that coordinated intervention by US and Japanese authorities could be imminent, and Tokyo’s top currency diplomat left that prospect open while keeping markets guessing.

The yen rose as much as 1.2% to 153.89 per dollar, its strongest since November. The euro hit a four-month high of $1.1898 and was last up 0.4% at $1.18665, as traders trimmed dollar positions ahead of the Federal Reserve meeting and watched for a possible announcement by the Trump administration of a new Fed chairman.

Wall Street faces another busy week after a rocky stretch. US stock index futures fell modestly on Sunday evening as markets braced for the Fed decision on Wednesday and a wave of corporate earnings, after last week’s pullback tied to geopolitical strains and trade uncertainty.