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Bitcoin Price Stabilizes Around $87K
Bitcoin remained close to the $87,000 level on Friday as global markets absorbed the Bank of Japan’s 25-basis-point interest rate hike. The move, widely anticipated by investors, appeared to have limited immediate impact on digital assets. At the time of writing, Bitcoin was trading around $86,930, reflecting a cautious but stable market tone.
Over the past 24 hours, Bitcoin posted a modest gain of 0.12%, while Ethereum outperformed with a 2.78% rise, trading near the $2,918 mark. Market participation, however, remained selective, with investors closely watching macroeconomic signals and central bank actions.
Altcoins Show Mixed Performance
Major altcoins largely traded in the red during the same period. XRP, BNB, Solana, Cardano, and Hyperliquid declined by as much as 5%, highlighting continued volatility outside the two largest cryptocurrencies. In contrast, Tron and Dogecoin registered marginal gains of 0.10% and 0.41% respectively, offering limited relief amid broader consolidation.
Expert Commentary
Commenting on current market conditions, Nischal Shetty, Founder of WazirX, said:
“Bitcoin is trading around $85,000–$86,000, consolidating after a volatile 24 hours as macro signals pull risk appetite in different directions and as Bitcoin struggles to break higher and instead trades sideways below key resistance levels.”
He added:
“Currently BTC and ETH volumes reflect hesitant participation, with neither macro nor trade headlines prompting breakout demand. The market is waiting for clearer direction, either coordinated easing to fuel a breakout, or tighter conditions that extend consolidation.”
Technical Perspective and Flows
The CoinSwitch Markets Desk noted:
“Technically, the chart shows a sharp rejection near $89K, with strong support around $85K and resistance at $88.5K–$89K.”
Meanwhile, Akshat Siddhant, Lead Quant Analyst at Mudrex, highlighted that recent selling pressure linked to the yen carry trade unwind had already priced in the Bank of Japan’s decision. He also pointed to strong institutional activity, noting that Bitcoin ETFs recorded $457 million in net inflows, reinforcing the asset’s relevance amid evolving macro conditions.
