Asia Market Open: Bitcoin Steady At $88K As Markets Shrug Off Trump Tariff Threat

Bitcoin held around $88,000 in early Asian trading on Tuesday as investors split their attention between a busy earnings week and a fresh round of trade threats from President Donald Trump.

Markets kept a cautious tone. Asian shares inched higher overall, while gold and silver drew new inflows as traders leaned into safety ahead of the Federal Reserve decision and a heavy run of results from US tech bellwethers.

Trump’s latest tariff move centred on South Korea. Accusing South Korea’s legislature of “not living up” to its trade deal with Washington, Trump said late on Monday he was increasing tariffs on imports from Asia’s fourth-biggest economy into the US such as autos, lumber and pharma to 25%.

NEW: TRUMP ANNOUNCES "BECAUSE THE KOREAN LEGISLATURE HASN'T ENACTED OUR HISTORIC TRADE AGREEMENT, WHICH IS THEIR PREROGATIVE, I AM HEREBY INCREASING SOUTH KOREAN TARIFFS ON AUTOS, LUMBER, PHARMA, AND ALL OTHER RECIPROCAL TARIFFS, FROM 15% TO 25%" pic.twitter.com/AX6gG4dg13

— DEGEN NEWS (@DegenerateNews) January 26, 2026

Market snapshot

• Bitcoin: $88,553, up 1.4%
• Ether: $2,938, up 2.7%
• XRP: $1.91, up 1.7%
• Total crypto market cap: $3.08 trillion, up 1.8%

Stocks Hold Firm As Earnings Season Takes Center Stage

Stock markets largely took it in stride. Nasdaq futures rose 0.2%, and South Korea’s Kospi reversed earlier losses to trade up about 0.8% as investors positioned for earnings from the so-called Magnificent Seven, including Microsoft, Apple and Tesla, due from Wednesday.

Across the region, MSCI’s broad index of Asia Pacific shares outside Japan gained about 0.4%. Japan’s Nikkei slipped 0.1%, Chinese blue chips were flat, and Hong Kong’s Hang Seng added 0.4%.

Safe havens stayed in demand. Gold climbed 1% to about $5,066 an ounce, hovering near a record high, while silver surged 6.4% to $110.60 an ounce after setting a fresh peak a day earlier.

Wall Street Rebound Extends Into Earnings Week

Currency markets also swung as traders cut dollar exposure. The yen rose as much as 1.2% to 153.89 per dollar, its strongest since November, and the euro touched $1.1898 before easing to around $1.18, with speculation lingering over possible US-Japan coordination to steady moves.

On Wall Street, Monday’s session extended a rebound, leaving the S&P 500 and Nasdaq at their highest levels in more than a week heading into the earnings rush.

Crypto flows remained a headwind. US spot bitcoin ETFs logged their biggest weekly outflow since Feb. 2025 last week, adding to the sense that institutional demand has cooled at the margin.

That backdrop has kept Bitcoin trading defensively, with Bitfinex analysts warning it may stay range-bound between $85,000 and $94,500 without a clearer demand catalyst.