Good Morning, Asia. Here’s what’s making news in the markets:
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.
As Asia begins a new trading week, bitcoin
is changing hands at $109K, up 0.8% in the last week or 4.5% in the last month, according to CoinDesk market data.
In an era of continued sizeable BTC buys from Michael Saylor’s Strategy (MSTR), sustained BTC Exchange Traded Fund (ETF) inflows, and more companies adopting a BTC treasury strategy, one has to wonder why bitcoin’s price hasn’t shot past all-time highs.
A new report from CryptoQuant spells it out: all of this institutional action isn’t making up for a general decline in spot demand for BTC.
“The annual growth of bitcoin demand shows a similar picture: ETFs and MSTR purchases are a portion of bitcoin demand, overall…
