The post Will Bank of Japan Trigger a Rebound? appeared on BitcoinEthereumNews.com. Home » Crypto Bits Bitcoin trades near $89,800, holding key support as leverageThe post Will Bank of Japan Trigger a Rebound? appeared on BitcoinEthereumNews.com. Home » Crypto Bits Bitcoin trades near $89,800, holding key support as leverage

Will Bank of Japan Trigger a Rebound?

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Bitcoin trades near $89,800, holding key support as leverage rises and traders watch for potential Bank of Japan action to lift risk assets.

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Summarize with AI



Summarize with AI

Bitcoin (BTC) is trading near $90,000 at press time, holding above a key support range between $86,000 and $89,000. This area, which served as a base in December, is now being retested after a pullback from recent local highs near $95,000.

Key Support Zone Faces Pressure

The asset has mostly remained below the $90,000 mark, which was previously support and is now turning into resistance. Until that level is reclaimed, each move higher may face pressure. Market structure shows no breakdown yet, but the momentum has clearly slowed.

After a spike during the drop, volume has slowed, showing lower activity as traders wait for confirmation. The RSI is sitting near the middle of the range, not signaling much strength or weakness.

Michaël van de Poppe, founder of MNF Fund, says Bitcoin’s next move may depend on macro factors. He posted,

This suggests that decisions from the Bank of Japan could influence broader markets. If bond market pressure eases, buyers may return to higher-risk assets, including cryptocurrencies.

Meanwhile, the asset is down 7% over the last 7 days, despite a small gain in the past day. News that President Trump canceled planned tariffs linked to Greenland caused sudden volatility across several markets.

Market Sentiment Mixed Among Analysts

There’s no clear direction yet. Merlijn The Trader noted, “$87.7k is the line in the sand. If BTC doesn’t break it, you’re in for a surprise.” The message hints at the potential for a bounce if support holds.

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While some analysts are watching a bear flag pattern that could target $60,000, others maintain that the long-term structure remains intact. Egrag Crypto pointed out that the trend is still intact and the current price is part of a broader range.

In contrast, data from CryptoQuant analyst Arab Chain shows the leverage ratio on Binance has climbed to its highest level since last November, reaching around 0.184. This reflects a shift toward risk, with more traders using borrowed funds, a setup that often leads to sharper market swings.

Whale activity, however, remains muted. CW observed,

They added that much of the current activity appears automated, noting, “Whales have not yet made any significant moves.

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Source: https://cryptopotato.com/bitcoin-holds-key-support-will-bank-of-japan-trigger-a-rebound/

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