Bitcoin (BTC) is currently trading at ¥10,156,388, reflecting a 4.52% decline over the past 24 hours. After holding above the ¥10.3 million level earlier this week, BTC has slipped below this psychological support, facing downward pressure. Key support now lies near the ¥10 million mark, which if broken, could open the door to further declines. On the upside, resistance is observed around ¥10.4 million, where sellers have previously stepped in. This recent move suggests a cautious market mood, with investors possibly taking profits or waiting for clearer signals before committing to new positions.
Ethereum (ETH), the second-largest cryptocurrency, also posted losses, currently down 3.99% at ¥284,402. This mirrors Bitcoin’s downward momentum, as ETH tends to move in tandem with BTC but sometimes shows slightly less volatility. Other major altcoins experienced similar declines: Binance Coin (BNB) dropped 5.13% to ¥97,754, and XRP fell 2.78% to ¥190. Stablecoins such as USDT and USDC remained steady around ¥160, as expected, since they are designed to maintain a stable value. The overall performance indicates a broad-based retreat in crypto assets, rather than isolated weakness in individual tokens.
Market sentiment appears cautious to bearish at this point. The recent price declines are accompanied by subdued trading volumes, suggesting that many investors are hesitant to enter the market amid uncertainty. On-chain data — which tracks activity directly on the blockchain, such as transaction counts and wallet movements — shows a slight decrease in new buying interest. This could imply that fewer new participants are stepping in to support prices right now. Additionally, some large holders may be reducing exposure, further contributing to downward pressure. These factors combined suggest that the market is in a consolidation phase, waiting for fresh catalysts to drive the next major trend.
Looking at the Asia trading session, the market opened with moderate selling pressure, which pushed prices lower early on. This was likely influenced by profit-taking following recent gains and cautious sentiment ahead of key economic indicators scheduled later in the day. As the European markets opened, momentum remained subdued, with no significant bounceback observed yet. Investors in Europe appear to be waiting on clearer signals from the broader financial markets before committing further capital into crypto assets. Overall, the current environment highlights the importance of monitoring global macroeconomic factors alongside crypto-specific developments to gauge where prices might head next.