Bank Of Japan Rate Cut Expected To Negatively Impact BTC, Altcoins
Bitcoin faces ongoing selling pressure, despite brief recovery attempts, and could drop to $73,000 if support at $80,000 fails. Analysts highlight an imminent directional move due to low volatility, with potential upside to $100,000 if BTC breaks $94,600, or a downside bottom in the $73,700–$76,500 range. BTC’s previous drawdowns following Bank of Japan rate hikes are raising caution. The S&P 500 may range between 6,550 and 6,920; a break below 6,550 targets 6,180, but a move above 6,920 could reach 7,290. The US Dollar Index leans bearish, with risk of a drop to 96.21 unless it reclaims 100.54. For top altcoins: Ether’s support is at $2,907, with rallies possible above $3,350; BNB risks falling to $791, but could stabilize between $791 and $1,020; XRP may decline to $1.61 unless it tops $2.21; Solana could plunge to $95 or rally to $189, depending on triangle breakout direction. Dogecoin and Cardano both threaten further drops unless key resistance levels are recaptured. Bitcoin Cash weakens below $560, with the broader range between $443 and $615.
