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Market Daily Report: Bursa Malaysia Ends Higher On Blue-Chip Buying, Tracks Most Regional Markets

KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
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Bitcoin Drops Below $87K: Trump’s Policies Shake Crypto Confidence

 Bitcoin’s Rally Stalls Amid Market Uncertainty

  • Bitcoin (BTC/USD) hit an all-time high of $109,225 on Jan. 20 following Trump’s inauguration, fueled by hopes of deregulation and a U.S. bitcoin reserve.
  • Since then, BTC has fallen over 20% to $87,080, with a 7.3% drop on Tuesday alone.
  • Support levels now sit at $70,000 - $75,000, according to market analysts.

What’s Driving the Decline?

  1. Regulatory Uncertainty:

    • Optimism over a Trump-led pro-crypto environment has been priced in, but no concrete policy changes have materialized.
    • A crypto working group has been formed but won’t submit recommendations for another 180 days.

  2. Scandals & Hacks:

    • Argentina’s President Javier Milei faced backlash after a meme coin he promoted, Libra, crashed.
    • Bybit, a top crypto exchange, suffered a $1.4 billion hack, raising security concerns.

  3. Trump’s Trade Policies & Inflation Fears:

    • New tariff threats—especially on semiconductors to China—could fuel inflation, impacting risk assets like crypto.
    • Investors are seeing “bitter medicine” (tariffs, layoffs) but no “spoonful of sugar” (tax cuts, deregulation) yet.

Outlook: Can Bitcoin Recover?

  • Bitcoin’s next rally depends on clear crypto-friendly policies from Trump’s administration.
  • If market uncertainty persists, BTC could test the $70K-$75K range in the coming weeks.

Summary:

  • Bitcoin tumbles 20% from its peak, falling below $87K due to regulatory uncertainty and macroeconomic concerns.
  • Crypto market hit by scandals & security breaches, shaking investor confidence.
  • Trump’s tariffs & inflation fears weigh on risk assets, contributing to Bitcoin’s pullback.
  • Future price action hinges on clear regulatory steps from the administration.
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