Asian crypto shares received a big blow on 3 February 2025, while Bitcoin reached its lowest level in three weeks with a price of $ 91,163. The sharp falls in the cryptomarkt were powered by the growing concerns about trade rates and the threat of a trade war.
In Japan it was mainly Metaplanet, a company that is often compared to micro strategy because of its bitcoin strategy, which was hit hard. The share closed the Trade Day with a loss of 9.44% on the Tokyo Stock Exchange. SBI Holdings, one of the largest crypto and blockchain investors in Japan, also saw its shares fall by 3.60%.
Bron: Google Finance
In Hong Kong, some of the best known listed crypto companies also had to deal with heavy losses. OSL Group, the operator of the first approved Crypto-Exchange of the city, saw its shares fall by 2.69%, while Boyaa, the largest listed Bitcoin holder in Asia, dropped by 4.64%.
According to Justin d’Anethan, head of sales at Token Launch Advisory firm Liquifi, these decreases can be partly explained by the influence of the trading rates: “Their pronounced falls are related to the rates, whether you see it as the impact of a trade war on The wider stock market, or the impact of a crypto decrease. “There is a reinforcement as investors are worried about both fronts.”
Crypto harder than traditional markets
The losses in crypto shares were larger than those in the stock markets. The Japanese Nikkei 225 fell by 2.66%, while the Hong Kong Hang Seng hardly moved, with a decrease of only 0.04%. The Asian markets opened for the first time since the announcement of US President Donald Trump, who imposed 25% import duties on goods from Mexico and Canada and 10% on products from China. Both North American countries promised retribution of taxes, while Beijing indicated that he would submit the case to the World Trade Organization (WTO).
“Although this does not initially seem to be crypto-related, the rates point to a possible trade war, which can lead to a broad sale of risky assets, including Bitcoin, Ethereum and other cryptocurrencies,” said D’Anethan.
In times of economic uncertainty, such as a trade war, risky assets such as cryptocurrencies often have more loss than traditional shares. Investors rather sell risky investments, which leads to stronger falls on the cryptomarkt. Stock markets, which are widely diversified, can better stand up. Crypto-assets often respond more sensitively to macro-economic tensions, as we now see due to the sharp fall in Bitcoin and other digital coins.
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Source: https://newsbit.nl/aziatische-crypto-aandelen-kelderen-bitcoin-daalt-naar-laagste-punt-in-drie-weken/
