Bitcoin (BTC) is currently trading at ¥10,521,859, showing a modest increase of 0.45% over the past 24 hours. After a period of sideways movement, BTC has managed to hold above the key psychological support level of ¥10.5 million. This level has acted as a floor, preventing further declines in recent sessions. On the upside, Bitcoin faces resistance near ¥10.6 million, where selling pressure could intensify. The current price action suggests a consolidation phase, with traders waiting for clearer signals before committing to larger positions.
Ethereum (ETH) and other major altcoins have outperformed Bitcoin in the last day. ETH has surged 3.11% to ¥283,285, benefiting from renewed interest in decentralized finance and smart contract projects. XRP also posted strong gains, rising 2.89% to ¥195. These moves indicate that investors are diversifying their portfolios beyond Bitcoin, looking for opportunities in altcoins with promising use cases. On the other hand, Binance Coin (BNB) experienced a slight pullback of 0.58%, trading at ¥97,980. Stablecoins like USDT and USDC remain stable around ¥160, reflecting their role as safe havens amid market fluctuations.
Market sentiment appears cautiously optimistic. The steady Bitcoin price above its support level and the notable gains in ETH and XRP suggest confidence among investors. On-chain data—which refers to information recorded directly on blockchain networks—shows consistent transaction volumes and stable wallet activity, indicating ongoing user engagement without excessive speculative spikes. This balance between cautious buying and cautious selling supports the view that the market is preparing for a possible directional move, but participants remain mindful of broader economic factors and regulatory news.
Looking at the Asian trading session, price movements have been relatively calm, with gradual upward trends in Ethereum and XRP helping to lift overall market sentiment. The lack of volatility during this time may reflect the cautious stance of regional investors awaiting European market open. As European markets began trading, momentum slightly increased, particularly in altcoins, suggesting renewed interest and potential for more active trading ahead. Investors should watch for any breakout above Bitcoin’s resistance at ¥10.6 million, as it could signal the start of a stronger upward trend during the upcoming sessions.