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Bitcoin, Korea’s Kospi and Nasdaq futures rally as China GDP beats estimates
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- DeepHorus
Global financial markets staged a broad rally on Monday as stronger-than-expected Chinese economic data and falling oil prices revived investors’ appetite for risk. Bitcoin traded near $82,500 to $83,000 during early European hours, up about 1% since midnight UTC and 1.60% over the past 24 hours. Nasdaq futures gained more than 1%, while Japan’s Nikkei rose 1.8% and South Korea’s Kospi added 0.6%. Chinese stocks were up 0.3%. The gains followed a technology-led selloff last week that had weighed on AI-related shares and broader risk assets.
China’s National Bureau of Statistics reported that gross domestic product grew 4.5% year on year in the third quarter, faster than the second quarter’s 4.3% pace. Retail sales of consumer goods rose 1.1%, more than double the 0.5% increase expected and up from 0.4% the previous month. The data pointed to stronger domestic demand in the world’s second-largest economy. As the world’s factory and a major importer of industrial commodities, China often sets the tone for global risk appetite. Stronger Chinese data therefore tends to encourage risk-taking across financial markets.
The rebound also aligned with the VIX’s historical tendency to normalize after Friday spikes, a pattern that has often coincided with steadier equity markets. Gold was largely unchanged near $4,180, while the Dollar Index held near Friday’s lows, below 102. Bitcoin’s resilience near $83,000 suggested that crypto markets were participating in the broader recovery. Nasdaq futures and Asian benchmarks reflected similar optimism.
Oil prices fell on both sides of the Atlantic, reversing some of last week’s gains. Reuters attributed the decline to expectations that President Donald Trump’s Russia waiver would boost supply. Still, geopolitical risks in the Middle East persist. A sustained decline in oil could ease inflation fears and clear the way for the Federal Reserve to cut interest rates. As of writing, the central bank is expected to keep its benchmark borrowing cost unchanged in the 4.75% to 5% range this month, after raising rates by 25 basis points last month.
Market participants viewed the session as a reprieve from last week’s losses, though they remained attentive to central bank policy and energy supplies. The combination of firmer Chinese demand and cheaper oil supported a more constructive backdrop for risk assets. The rally spanned cryptocurrencies, U.S. equity futures and major Asian indexes. It marked a sharp contrast with the prior week’s technology-led weakness.
Looking ahead, investors will watch whether China’s recovery can sustain its momentum and whether oil’s decline continues. The Federal Reserve’s next policy decision remains a key variable for global markets. If inflation pressures ease further, rate cuts could become more likely. For now, the synchronized rally in bitcoin, Nasdaq futures and Asian stocks signals a renewed willingness to take on risk.
