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2h ago

Bitcoin Holds a Narrow Range Near $90,000 as BoJ Rate Decision Looms

Traders focus on a $92k–$94k reclaim for upside, with on-chain gaps pointing to $74k–$80k if support breaks.

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Bitcoin [BTC]
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Overview

  • Bitcoin traded between roughly $89k and $93k for more than two weeks, with CoinDesk reporting a Sunday dip below $90k on thin weekend liquidity.
  • Markets widely expect the Bank of Japan to raise rates to about 0.75% this week, a shift that could unwind yen carry trades and sap risk appetite.
  • Key levels in focus include $86k as near-term support, a $90.4k CME futures gap that traders view as a potential magnet, and resistance at $92k–$94k.
  • Multiple analysts warn that a failure to hold the mid‑$80k area could slide price toward the $75k–$80k zone, with some projecting deeper targets if selling accelerates.
  • Flows and positioning remain mixed, with reported increases in liquidations and on-chain data showing whales swapping BTC for ETH during the recent pullback.