Crypto
Bitcoin Held 77,000 Through Two Central Bank Hikes in a Week, While NEAR and UNI Led the Charge
Bitcoin hovered above 77,000 dollars on Friday, holding steady with minor gains after Tuesday's 3 percent dip, even as the Bank of Japan raised interest rates from 1 percent to 1.25 percent. That makes two central bank hikes in one week absorbed with barely a wobble: the Federal Reserve lifted its own rate by 25 basis points on Wednesday in a unanimous vote. A year ago, that combination would have sent crypto reeling. This week, Bitcoin held its 50, 100, and 200 day exponential moving averages at 73,835, 71,606, and 73,171 dollars, a structure that keeps pointing up.
The real action was in DeFi. Near Protocol and Uniswap posted gains above ten percent over 24 hours, emerging as the top performers. NEAR announced confidential perpetuals with Hyperliquid, letting traders hold on chain positions while keeping ownership private, a feature built for the traders who live on chain. The token extended its 20 percent gains from the previous day, trading well above its 50, 100, and 200 day averages, and inched toward its 52 week high of 3.34 dollars set last September.
Uniswap traded near 7.95 dollars, pushing through the 78.6 percent Fibonacci retracement at 7.48 and turning that level into support, with the 10.30 dollar anchor as the next target. Its 50, 100, and 200 day averages cluster between roughly 5.32 and 4.39 dollars, so the structure underneath the rally runs deep.
Technicians note overhead resistance near 82,500 dollars, the support turned resistance trendline, with the 78.6 percent Fibonacci retracement of the 97,924 to 57,800 swing at 87,476 as the next bullish target. On the downside, the 50 percent retracement at 75,233 sits under price as the first cushion.
The angle here is maturity. Bitcoin's RSI sits at a neutral 53, momentum has cooled, the MACD drifts toward zero, and yet the asset absorbed a unanimous Fed hike and a BOJ hike in the same week while holding its uptrend structure. The market that once traded every macro headline as an existential event now digests global rate policy and moves on. Meanwhile capital rotated into the tokens shipping real product: privacy preserving perps on NEAR, the deepest liquidity engine in DeFi on Uniswap.
What it means for you: when an asset stops flinching at the news that once broke it, pay attention. Bitcoin's calm through a double rate hike week, plus DeFi tokens leading on shipped features, tells you where this market's confidence comes from now: working products and deep liquidity, the durable kind. The next leg up starts from a market that has learned to hold its nerve.
Quick answers
What is this story about?
Bitcoin hovered above 77,000 dollars on Friday, holding steady with minor gains after Tuesday's 3 percent dip, even as the Bank of Japan raised interest rates from 1 percent to 1.25 percent. That makes two central bank hikes in one week absorbed with barely a wobble: the Federal Reserve lifted its own rate by 25 basis points on Wednesday in a unanimous vote. A year ago, that combination would have sent crypto reeling. This week, Bitcoin held its 50, 100, and 200 day exponential moving averages at 73,835, 71,606, and 73,171 dollars, a structure that keeps pointing up.
Why does this story matter?
What it means for you: when an asset stops flinching at the news that once broke it, pay attention. Bitcoin's calm through a double rate hike week, plus DeFi tokens leading on shipped features, tells you where this market's confidence comes from now: working products and deep liquidity, the durable kind. The next leg up starts from a market that has learned to hold its nerve.
Sources
- FXStreet: Bitcoin extends gains amid Bank of Japan rate hike while DeFi tokens rally
- Barron's: Bitcoin rises as US stock futures point to recovery
- FXStreet: Bitcoin slips below $76.7K True Market Mean amid weak demand, Glassnode
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