Global Markets on High Alert: Bitcoin Falters Amid Geopolitical Tensions

The crypto market is facing a challenging period, with Bitcoin (BTC) struggling to push higher. The price of BTC hovered near $77,800 on Friday during early Asian hours, failing to break above Thursday's high of $78,700.

The rally that started in late March around $65,000 appears to have run out of steam since Wednesday. This comes as Japan released new inflation figures, with the Corporate Service Price Index rising 3.1% year-on-year in March, beating forecasts of 3.0%. Core inflation in Japan climbed to 1.8% in March, up from 1.6% in February.

Analysts now expect the Bank of Japan to hold rates at its next meeting but issue a warning that hikes are coming. June is seen as a possible date for action. A stronger yen could be bad news for risk assets globally, potentially triggering a wave of selling across markets.