Analysis: Asian capital currently has a stronger influence on BTC price, while the market awaits follow-up from US capital

ChainCatcher reported that on-chain data analyst Murphy stated that the on-chain sentiment indicator RMMPC shows that currently, capital from the Asian market has a stronger dominance over the BTC price. Since December 19, 2025, there has been a strong intervention, which also drove BTC to rebound after a second pullback to $85,000. However, capital from the American market has not yet actively entered, resulting in limited rebound momentum.

Previously, before the market rally began in March 2025, Asian capital entered first, followed by American capital, which ultimately provided strong momentum for the market and decisively changed its direction.