Bitcoin has recently pushed above the ¥10.2 million mark, showing a solid 3.32% increase over the past 24 hours. This move follows a period of consolidation just below this level, suggesting renewed confidence among investors. Key support for Bitcoin remains near ¥9.9 million, a level that has held steady in recent weeks, while resistance is currently observed around ¥10.4 million. Breaking above this resistance could open the door for further upward momentum, but traders should watch closely for any signs of reversal near this area.
Ethereum and other major altcoins have outperformed Bitcoin in the last day. Ethereum’s price rose by 4.73% to approximately ¥273,294, continuing its steady recovery after recent lows. Binance Coin (BNB) also gained 2.66%, reaching ¥97,499, while XRP showed the strongest rise among top altcoins, surging nearly 5% to ¥189. Stablecoins such as USDT and USDC remained virtually unchanged, reflecting their role as safe assets that maintain a stable value. This broad-based rally in altcoins suggests renewed investor interest beyond Bitcoin, possibly driven by optimism in upcoming network upgrades and increased decentralized finance (DeFi) activity.
Market sentiment appears cautiously optimistic, supported by positive on-chain data. On-chain indicators, which analyze blockchain activity such as transaction volumes and wallet movements, show increased engagement, particularly in Ethereum’s network. This uptick often suggests that more users and investors are participating, which can be a bullish sign. Additionally, the steady price rise with moderate trading volume indicates a healthy market recovery rather than a speculative spike. However, external factors like regulatory developments and global economic conditions still influence overall confidence and should be monitored closely.
Looking at overnight price action during the European and US trading sessions, the crypto market demonstrated resilience despite some profit-taking earlier in the day. Asia session traders should watch how Bitcoin behaves around the ¥10.2 million support level and whether it can challenge the ¥10.4 million resistance. For altcoins, Ethereum’s ability to hold above ¥270,000 and XRP’s momentum could signal further gains. Traders should also keep an eye on stablecoin flows, as sudden shifts may indicate upcoming volatility. Overall, the market shows signs of cautious optimism, with important price levels and blockchain activity providing valuable clues for the next moves.