Bitcoin price today: Holds steady above $70,000 as Japan election boosts market sentiment

Bitcoin hovered above the $70,000 mark on Monday, stabilizing after a sharp rebound late last week from lows near $60,000, as investors reassessed risk appetite following widespread liquidations and shifted focus to key U.S. economic data due later in the week.

The world’s largest cryptocurrency was last up about 1.5% at $70,402.5 by 01:25 ET (06:25 GMT), moving further away from a roughly 16-month low of around $60,187 reached earlier in the week.

On Friday, Bitcoin surged back above $70,000, jumping more than 12% in a single session as rallies in technology stocks and precious metals lifted risk assets more broadly. The rebound was supported by bargain hunting after the steep selloff, alongside signs of stabilisation across global markets.

Bitcoin’s sharp decline last week reflected a broader risk-off environment, driven by a selloff in U.S. technology shares — especially AI-related stocks — and forced liquidations in crypto futures markets, which intensified downward pressure.

Ongoing outflows from Bitcoin spot ETFs and a pullback from leveraged positions were also seen as key contributors to the heightened volatility.

Japan election reinforces the shift in risk sentiment

Japanese Prime Minister Sanae Takaichi’s decisive election victory on Sunday reinforced her mandate to push ahead with fiscal stimulus and tax reductions. The landslide result lifted regional equities and was linked to a renewed appetite for risk across some global markets.

Although the yen initially weakened ahead of the vote, it later steadied alongside equity gains, helping to support broader market sentiment.

Attention is now turning to a series of important U.S. economic releases later this week, including delayed employment data due on Wednesday and the consumer price index report on Friday.

These figures are expected to shape expectations for the Federal Reserve’s policy path, with markets currently factoring in potential rate cuts later in 2026 should inflation cool and labour market momentum slow.

Crypto prices today: altcoins remain subdued after rebounding from recent lows

Most major altcoins moved within narrow ranges on Monday, showing limited follow-through after their recent rebound.

Ethereum, the world’s second-largest cryptocurrency, traded largely unchanged at $2,076.41. XRP, ranked third, edged 1.1% higher to $1.43.

Solana slipped marginally, while Cardano and Polygon were little changed on the day.

In the meme-token space, Dogecoin underperformed, falling about 2%.

Sources: Ayushman Ojha