Bitcoin (BTC) has continued its upward momentum, closing at ¥10,093,155 with a solid 2.79% gain over the past 24 hours. This move marks a sustained effort to stay above the psychologically important ¥10 million level, which acts as a key support point—meaning it is a price level where buyers tend to step in to prevent further declines. On the upside, Bitcoin faces resistance around ¥10.3 million, where selling pressure may increase and make it harder to climb higher. Maintaining its position above ¥10 million is crucial for Bitcoin to build confidence and attract more buyers in the coming sessions.
Ethereum (ETH) and other major altcoins also posted positive performances, albeit with slightly more modest gains. ETH closed at ¥266,455, up 2.51%, reflecting steady demand as the second-largest cryptocurrency continues to benefit from growing interest in decentralized finance and smart contract applications. Binance Coin (BNB) showed a 2.82% increase to ¥96,373, outperforming many peers as the Binance ecosystem remains active. Meanwhile, XRP rose by 1.32% to ¥180, indicating a more cautious but stable recovery. Stablecoins like USDT and USDC remained flat near ¥160, as expected, since their values are designed to stay pegged to the Japanese yen or US dollar.
Market sentiment appears cautiously optimistic, supported by positive price action and healthy trading volumes. On-chain data, which refers to information recorded directly on the blockchain such as transaction volumes and wallet activity, shows consistent inflows to exchanges, suggesting that some investors may be preparing to sell at higher levels. However, the steady accumulation by long-term holders indicates confidence in the market’s medium-term prospects. This balance between cautious profit-taking and continued investment points to a market in consolidation rather than a sharp trend reversal.
Looking ahead to the US evening session, traders and investors should watch key levels closely. For Bitcoin, holding above ¥10 million remains critical, while a break above ¥10.3 million could open the door for further gains toward ¥10.5 million. For Ethereum and other altcoins, maintaining current support levels will be important to avoid short-term pullbacks. The US session often brings increased volatility due to overlapping market hours and important economic data releases, so investors should be prepared for potential price swings. Overall, the market’s positive tone suggests a cautiously optimistic outlook as we move into the next trading day.