Bitcoin recovered above $103,000 on Thursday as stronger US economic data and positive corporate earnings lifted global risk assets. The move came as Asia stock markets opened higher, partially recovering from Wednesday’s selloff.
US data showed services activity at an eight-month high in October and private payrolls rising by 42,000, surpassing expectations. The results eased concerns about stretched valuations in tech stocks and boosted confidence among dip buyers.
Asia’s Nikkei advanced about 1.5% and South Korea’s Kospi jumped more than 2% at the open. While yields on US Treasuries remained elevated and the dollar stayed near a five-month high, traders became slightly more cautious about a Federal Reserve rate cut next month.
Crypto market activity followed equities, with Bitcoin up 1.3% to $103,439 and Ether rising 2.2% to $3,420. XRP fell 3.8%, reflecting selective risk-taking among tokens. Analysts said maintaining levels above $100,000 is critical for Bitcoin to sustain its rebound, with $105,000–$107,000 acting as near-term resistance.
Traders noted that political uncertainty, including the prolonged US government shutdown, continues to influence market sentiment, while strong US growth data supports measured risk appetite.
