Bitcoin (BTC) closed the day at ¥11,656,940, marking a 2.43% decline over the past 24 hours. This pullback follows a brief attempt to stabilize above the ¥12 million psychological level, which now stands as a significant resistance. On the downside, key support levels to monitor include the ¥11.5 million zone, which has previously acted as a consolidation area. The failure to hold above ¥12 million suggests cautious sentiment among traders as the market tests lower thresholds.
Ethereum (ETH) and other major altcoins also experienced notable declines, with ETH dropping 3.62% to ¥316,739. Binance Coin (BNB) decreased by 3.08% to ¥100,780, while XRP slipped 2.08% to ¥206. Stablecoins USDT and USDC remained relatively stable, each down marginally by 0.07% and priced at ¥159, reflecting ongoing demand for liquidity amidst the broader market downturn. The weakness across major altcoins reinforces a risk-off mood in the crypto sector.
Market sentiment currently leans toward caution, with traders closely watching macroeconomic indicators and regulatory developments. On-chain data does not indicate any substantial accumulation or distribution phases, suggesting that investors are awaiting clearer signals before committing to large positions. Volatility remains elevated, and the absence of strong buying support at higher levels adds to the subdued momentum. This environment underscores a wait-and-see approach as market participants digest recent declines.
Looking ahead to the U.S. evening session, market participants should focus on whether Bitcoin can reclaim and sustain above the ¥12 million resistance. Failure to do so could open the door to further downside toward ¥11.5 million and potentially lower support near ¥11 million. Ethereum’s immediate support lies around ¥310,000, while a breach could accelerate selling pressure across altcoins. Investors are advised to monitor volume trends and macroeconomic updates, as these will likely influence the next directional move in the market.