TLDR
- Bitcoin has surged nearly 5% over the last week, regaining significant support thresholds.
- For Bitcoin to conclude its current period of lower deviation, it requires weekly closures above the $88,400 and $93,500 levels.
- Experts indicate that reclaiming the $90,000 mark might drive BTC to experience a jump ranging between 8% to 14%.
- GameStop has granted approval for Bitcoin to be included in its reserve assets.
- The outcome of President Trump's Global Reciprocal Tariffs decision on April 2 might influence Bitcoin's price trajectory.
With positive momentum on its side, Bitcoin has not only risen nearly 5% in the previous week but has also regained significant support levels, positioning itself towards the $88,000 line. Analysts are optimistic about its ability to return to its former price range.
After several unsuccessful attempts to break out from the $84,000-$85,000 zone over the last two weeks, Bitcoin has finally reclaimed this region over the weekend, experiencing a 4.7% gain from last week's figures by closing above the $86,000 boundary.
At this week's start, Bitcoin's eyes were set on the $89,000 resistance benchmark. It managed to hit a biweekly peak at $88,765 but could not test the next crucial area as bullish energy waned.
Bitcoin has maintained its current range commendably, finding stability between the $86,000 and $88,000 support zone over the past day.
According to Analyst Alex Clary, Bitcoin's momentum appears promising for breaching the $88,000-$90,000 support range. This optimism is fostered by displaying a Relative Strength Index (RSI) bullish divergence, a V-shaped recovery, and surpassing its downward resistance.
Overcoming and re-capturing the crucial $90,000 resistance point could yield highly favorable outcomes. It might drive BTC to elevate between 8% to 14% from its present value, targeting the $95,000-$100,000 levels that were lost in February.
Trader Daan Crypto Trades observed that Bitcoin's movement hasn't paralleled much in recent weeks when compared to the SPX. He pointed out that BTC's pricing has been tracking alongside the S&P 500 (SPX) and typically displaying a unified movement.
$BTC Despite the robustness of its spot premium during this market bounce, it remains a stronghold.
Maintaining this premium while gradually returning to its preceding range ($90K and above) could herald the return to newer peaks.
Presently, this formidable resistance holds, and the price has been... pic.twitter.com/yr1toi7ucQ
— Daan Crypto Trades (@DaanCrypto) March 25, 2025
This correlation might illuminate recent dips and rebounds of Bitcoin; however, it's still trading with a substantial spot premium during this particular bounce.
Technical Analysis
According to Analyst Rekt Capital, Bitcoin must close above $88,400 and $93,500 weekly to terminate its present downside deviation cycle. Over the past five weeks, BTC has been oscillating between two primary bull market Exponential Moving Averages (EMAs), specifically the 21-week and 50-week EMAs.
Its latest price activity places it near the 21-week EMA, approximately at $88,400, gearing up for a significant trend decision. The analyst suggests that Bitcoin must secure a weekly closure over this mark and undergo a retest into support to aim for its Macro Range.
Meanwhile, blockchain analytics firm Santiment draws attention to an excessive bullish sentiment proliferating on social media. Historically, such exuberance often heralds a market correction, as heightened optimism typically precedes a pullback.
🤑 With cryptocurrency enjoying a robust bounce in March's latter half, traders have leaned towards mild greed. Previously, major fears were expressed in late February and early March when Bitcoin twice dropped to $78K, and now its recovery to $88.5K seems... pic.twitter.com/WGvmvKSv2X
— Santiment (@santimentfeed) March 25, 2025
In corporate updates, GameStop's board has ratified the investment strategy to incorporate Bitcoin into its treasury reserves. This strategic decision permits GameStop to channel a fraction of its cash reserves or potential finance influx into Bitcoin.
Following the revelation, GameStop's shares, famous as the inaugural \"meme stock,\" experienced an upward swing, jumping over 8% during after-hours trading.
A noteworthy transformation is underway in the United States, with governments and entities acknowledging Bitcoin's significance. Recently, Oklahoma's legislature adopted the Strategic Reserve Bill, aligning with Texas, Arizona, and Utah in recognizing Bitcoin as a state-held treasury asset. Bitcoin This development fortifies Bitcoin's role as a legitimate store of value. It indicates escalating trust in its long-term reliability and might stimulate its institutional uptake should more states follow this lead.
All current attention is fixed on President Trump's Global Reciprocal Tariffs, slated for April 2. The decision could inject uncertainty into the financial landscape and influence...
Initially, sweeping charges were assumed. Nonetheless, recent insights point to a more targeted approach aimed at nations with pronounced trade discrepancies against the U.S. Bitcoin’s price movement.
The cryptocurrency sector has demonstrated responsiveness to geopolitical occurrences. Throughout, Bitcoin's price adjustments have closely intertwined with updates concerning trade regulations.
If Trump's tariffs prove to be more accommodating than initially anticipated, Bitcoin may witness increased interest, potentially driving its price nearer to the threshold of $90,000 and beyond.
Maisie is a seasoned journalist specializing in Crypto & Financial News, having contributed to Moneycheck.com, level-up-casino-app.com, Computing.net, and currently holding the role of Editor in Chief at Blockfresh.com.
