Good morning, Asia. Markets are clawing back losses after solid US data even as a firm dollar caps upside. Bitcoin bounced on Thursday, pushing back above $103,000 as risk appetite returned with stronger US economic data and a global equity rebound. Asia stocks opened firmer, recovering part of Wednesday’s selloff after better-than-expected US economic reports helped steady sentiment across markets still trading near record highs. Yields on US Treasuries held overnight gains and the dollar stayed near a five-month peak, reinforcing a cautious undertone even as risk assets recovered. Traders pared expectations of a Federal Reserve rate cut next month, keeping attention on how long policy may stay restrictive. Market snapshot Bitcoin: $103,439, up 1.3% Ether: $3,420, up 2.2% XRP: $2.34, down 3.8% Total crypto market cap: $3.53 trillion, up 2% Strong US Data Lifts Markets As Services And Payrolls Beat Expectations Fresh data set the tone. US services activity reached an eight-month high in October as new orders improved, and private payrolls rose by 42,000, beating forecasts. The combination lifted Wall Street and eased worries about stretched tech valuations, while upbeat earnings restored confidence among dip buyers. Derivatives desks reported cleaner positioning after Wednesday’s shakeout, helping crypto track equities higher. With spot back above $103,000, traders pointed to $100,000 as the immediate line to defend and $105,000 to $107,000 as near resistance if risk holds. Markets Stabilize As Rate Expectations Cool And Growth Outlook Firms In regional equity action, Japan’s Nikkei rose about 1.5% after a steep drop the day before, and South Korea’s Kospi jumped more than 2% at the open. The overnight US rally broadened across sectors, with tech and momentum names leading gains. Rate expectations adjusted alongside the data. Pricing for a December Fed cut slipped toward 60% from roughly 70% earlier in the week, a shift that kept yields firm. For crypto, a slower easing path can cap upside through a stronger dollar, but improved growth indicators support selective risk-taking. Flows remained cautious across tokens. Desks described a “buy the dip, sell the rip” bias, characterized by rapid profit-taking in high-beta names and steadier interest in large caps. The pattern fits a market still nursing drawdowns from earlier in the week. Political Gridlock Weighs On Confidence While Traders Watch Key Bitcoin Levels Analysts said the macro backdrop continues to drive crypto day to day. Stronger activity data buoyed equities and helped Bitcoin recover, but the higher-for-longer rate narrative and firm dollar limit follow-through until inflation and policy signals turn clearer. Strategists said political and economic uncertainty remains a drag, and the the government shutdown has made it harder to interpret growth trends as key data releases remain frozen. In that context, private reports carry more weight. “The prolonged US.government shutdown has become a real stress point, not only for investors but for the wider economy, especially as key data releases remain frozen,” said Lukman Otunuga, senior market analyst at FXTM. Risk levels are clear for traders. A decisive hold above $100,000 stabilizes sentiment and keeps the door open to a grind higher if equities extend gains. A break back below would likely trigger another wave of deleveraging into a strong dollar, reviving the bid for cashGood morning, Asia. Markets are clawing back losses after solid US data even as a firm dollar caps upside. Bitcoin bounced on Thursday, pushing back above $103,000 as risk appetite returned with stronger US economic data and a global equity rebound. Asia stocks opened firmer, recovering part of Wednesday’s selloff after better-than-expected US economic reports helped steady sentiment across markets still trading near record highs. Yields on US Treasuries held overnight gains and the dollar stayed near a five-month peak, reinforcing a cautious undertone even as risk assets recovered. Traders pared expectations of a Federal Reserve rate cut next month, keeping attention on how long policy may stay restrictive. Market snapshot Bitcoin: $103,439, up 1.3% Ether: $3,420, up 2.2% XRP: $2.34, down 3.8% Total crypto market cap: $3.53 trillion, up 2% Strong US Data Lifts Markets As Services And Payrolls Beat Expectations Fresh data set the tone. US services activity reached an eight-month high in October as new orders improved, and private payrolls rose by 42,000, beating forecasts. The combination lifted Wall Street and eased worries about stretched tech valuations, while upbeat earnings restored confidence among dip buyers. Derivatives desks reported cleaner positioning after Wednesday’s shakeout, helping crypto track equities higher. With spot back above $103,000, traders pointed to $100,000 as the immediate line to defend and $105,000 to $107,000 as near resistance if risk holds. Markets Stabilize As Rate Expectations Cool And Growth Outlook Firms In regional equity action, Japan’s Nikkei rose about 1.5% after a steep drop the day before, and South Korea’s Kospi jumped more than 2% at the open. The overnight US rally broadened across sectors, with tech and momentum names leading gains. Rate expectations adjusted alongside the data. Pricing for a December Fed cut slipped toward 60% from roughly 70% earlier in the week, a shift that kept yields firm. For crypto, a slower easing path can cap upside through a stronger dollar, but improved growth indicators support selective risk-taking. Flows remained cautious across tokens. Desks described a “buy the dip, sell the rip” bias, characterized by rapid profit-taking in high-beta names and steadier interest in large caps. The pattern fits a market still nursing drawdowns from earlier in the week. Political Gridlock Weighs On Confidence While Traders Watch Key Bitcoin Levels Analysts said the macro backdrop continues to drive crypto day to day. Stronger activity data buoyed equities and helped Bitcoin recover, but the higher-for-longer rate narrative and firm dollar limit follow-through until inflation and policy signals turn clearer. Strategists said political and economic uncertainty remains a drag, and the the government shutdown has made it harder to interpret growth trends as key data releases remain frozen. In that context, private reports carry more weight. “The prolonged US.government shutdown has become a real stress point, not only for investors but for the wider economy, especially as key data releases remain frozen,” said Lukman Otunuga, senior market analyst at FXTM. Risk levels are clear for traders. A decisive hold above $100,000 stabilizes sentiment and keeps the door open to a grind higher if equities extend gains. A break back below would likely trigger another wave of deleveraging into a strong dollar, reviving the bid for cash