Crypto markets faced significant downward pressure today amid no fresh developments from key central banks. The Federal Reserve maintained its policy rate at 3.75%, holding steady for the third consecutive meeting, while the Bank of Japan continued its rate hiking cycle with its latest move to 1.00%. The absence of new announcements or economic data left investors without fresh guidance, contributing to increased caution and volatility across digital assets.
This uncertainty triggered a broad sell-off, with Bitcoin falling 3.07% to ¥12,817,772 and major altcoins suffering even steeper losses. Ethereum dropped 5.82% to ¥374,189, while Binance Coin and XRP declined by 3.06% and 4.50%, respectively. The sharp moves highlight how sensitive crypto markets remain to shifts in monetary policy expectations and overall risk appetite, even when central banks hold rates steady or pursue gradual adjustments.
Market sentiment turned notably risk-off as traders digested the steady Fed rate alongside the Bank of Japan’s ongoing tightening. On-chain indicators suggest reduced buying activity and increased outflows from exchanges, reflecting hesitancy among investors amid unclear macroeconomic signals. Stablecoins like USDT and USDC showed mild declines around 0.4%, indicating slightly increased demand for lower-risk assets within the crypto ecosystem during this period of uncertainty.
Looking ahead to the US evening session, key levels to watch for Bitcoin include support near ¥12.5 million and resistance around ¥13 million. Ethereum’s critical support lies close to ¥370,000, with resistance near ¥390,000. With no scheduled events today, traders will likely focus on technical price action and any shifts in risk sentiment. The next major central bank dates to monitor are the Fed meeting in mid-June and the Bank of Japan’s meeting in mid-September, which may provide clearer direction for markets in the coming months.