Bitcoin is currently trading at approximately ¥9,749,094, showing a decline of about 1.45% in the past 24 hours. This recent downward movement suggests that Bitcoin is struggling to maintain its position above the ¥9.75 million mark, which has acted as a short-term support level in recent days. If the price falls below this support, we could see further downside pressure toward the next key support around ¥9.5 million. On the upside, resistance remains near ¥10 million, a psychologically important level that Bitcoin has tested multiple times but failed to decisively break above. Traders and investors should watch these levels closely, as they will likely influence Bitcoin’s direction in the near term.
Ethereum and other major altcoins have followed Bitcoin’s weaker performance, with Ethereum down 3.28% to ¥250,130. This larger percentage drop compared to Bitcoin indicates that ETH is currently facing more selling pressure. Binance Coin (BNB) shows a slight decline of 0.38% at ¥92,255, while XRP has fallen 2.40% to ¥175. Stablecoins such as USDT and USDC remain steady at around ¥160, reflecting their role as safe havens during market volatility. Overall, the altcoin market is mirroring Bitcoin’s cautious mood, with most tokens experiencing mild to moderate declines amid uncertainty.
Market sentiment appears to be cautious and somewhat risk-averse at the moment. Investors seem hesitant to push prices higher, possibly due to recent macroeconomic concerns or profit-taking after recent rallies. On-chain data, which provides insight into blockchain activity such as transaction volumes and wallet behaviors, suggests that large holders are not aggressively buying, and some may be reducing exposure. This lack of strong buying activity can limit upward price momentum. Additionally, low volatility in stablecoins highlights that many traders may be waiting on the sidelines for clearer signals before making new commitments.
Looking at overnight price action, trading during the European and US sessions saw modest declines, with no major news catalysts to spark significant moves. For Asian session traders, it will be important to monitor how Bitcoin behaves around the ¥9.7 million support level. A break below this could trigger further selling, while a bounce might signal renewed buying interest. Additionally, watching Ethereum’s ability to hold above ¥250,000 will provide clues about altcoin strength. Traders should also keep an eye on global economic updates and any policy statements that could impact market confidence. Staying informed and cautious is advisable as the market seeks direction in this period of consolidation.