: Bitcoin is slowly moving towards $89,000, Asian markets are unstable while gold reaches a new record.
Asian markets on January 28, 2026 kicked off an unstable trading session, with gold rising to a new record level as a safe haven, while the price of Bitcoin slowly moved towards the $89,000 level amid limited liquidity.
📊 Market snapshot
· Gold: The price of an ounce exceeded $5,200, marking a new record, supported by demand as a hedge against economic and geopolitical risks.
· Bitcoin: 89,158 dollars (+0.7%).
· Ethereum: $3,007 (+2.5%).
· XRP: $1.90 (-0.6%).
· Total market capitalization of cryptocurrencies: $3.10 trillion (+0.7%).
📈 Asian stock performance
Major indices provided mixed signals with the Asian market opening:
· Hong Kong: The standout performer, with the Hang Seng Index jumping by 1.22% driven by broader demand for risk assets.
· China: Signals were mixed as the Shanghai Composite Index rose by 0.21%, while the Shenzhen Component Index fell by 0.10%.
· U.S. futures: U.S. stock index futures extended their gains after reports of talks for significant investments in OpenAI.
🔍 Influencing factors and forecasts
Traders are currently focused on several key drivers that may determine the market direction in the short term:
· Limited liquidity in cryptocurrencies: Market depth remained shallow, with minimal inflows for Bitcoin exchange-traded funds (ETFs) and unwinding of derivative positions, which led traders to focus on short-term price ranges rather than betting on a strong trend.
· Earnings season: Investors are awaiting earnings results from major technology companies.
· Federal Reserve decision: The U.S. Federal Reserve's decision on interest rates is scheduled for Wednesday.
· Cryptocurrencies: Traders are looking for any increase in inflows to ETFs or futures activity that could give Bitcoin a boost out of its recent tight trading range.
In short, global markets continue to react to multiple factors: investors are turning to gold as a hedge, while cryptocurrencies are moving cautiously amid low liquidity, and stocks are awaiting upcoming catalysts from corporate earnings and monetary policy.