Analysis shows that Asian funds currently have a stronger dominance over BTC prices, while the market awaits the follow-up from US funds

On-chain data analyst Murphy stated that the on-chain sentiment indicator RMMPC shows that the current Asian market funds have a stronger dominance over BTC prices, starting strong intervention after December 19, 2025, while also driving BTC to rebound after a second retest of $85,000. However, the current American market funds have not yet actively entered, resulting in limited rebound strength.

Previously, before the market started in March 2025, Asian funds intervened first, followed by American funds, ultimately providing strong momentum for the market and significantly changing its direction.