Bitcoin Battles $82K Resistance as BOJ Rate Hike Fears Return

Bitcoin (BTC) hovers above $81,000 on Monday amid prolonged Middle East tensions and the possibility that the Bank of Japan (BOJ) could raise interest rates. Meanwhile, altcoins extend recovery with Cronos (CRO) and Injective (INJ) emerging as top performers over the last 24 hours.

Bank of Japan weighs rate hike decision amid delayed US-Iran peace deal

US President Donald Trump rejected Iran’s peace proposal, saying “Iran's proposal is a stupid proposal,”. The rejection fueled Brent Oil prices to $103 and West Texas Intermediate Oil prices to $95 on Tuesday, sustaining the risk of high oil prices and global inflation.

To address the uncertainties and impacts of the global oil crisis, the Bank of Japan could consider raising its interest rate from 0.75% to 1%. The last BOJ rate hike to 0.75% from 0.50% on December 18 preceded Bitcoin's combined 25% decline across January and February.

According to the BOJ’s Summary of Opinions from the April monetary policy meeting, multiple members weighed the option of a rate hike to address the negative real rate, prevent the risk of inflation, address the economic slowdown, and address upside risks to prices.

BTC Faces Major Resistance at 200-Day MA

Bitcoin is trying to recover after the sharp fall from the $100K–$110K area, but the price is now facing strong resistance near the 200-day moving average around $82K.

The short-term trend is improving as the blue moving average moves higher, while the MACD still shows bullish momentum. However, buying strength is starting to slow near resistance.

Key resistance levels are:

$82K–$84K

$90K

$100K–$120K supply zones

Key support levels are:

$74K–$76K

$62K–$65K

If BTC breaks above $84K, the next move could target $90K–$100K. If rejection continues near the 200-day MA, price may fall back toward the $74K support zone.

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