Bitcoin (BTC) is marginally up over the past 24 hours as it holds above $87,000, continuing a recovery trend that started over the weekend. The flagship cryptocurrency maintained its position above $87,000 despite facing a wobble on Tuesday when it dropped to a low of $86,355. According to a K33 Research report, markets will remain calm as they prepare for volatility as markets absorb the impact of the impending tariff announcements. Bitcoin (BTC) Calm Ahead Of Trump’s Tariff Announcements Bitcoin (BTC) held firm above $87,000 after the Federal Reserve adopted a relatively dovish stance regarding rate cuts and signs that US President Donald Trump could adopt a targeted tariff strategy instead of a broad one. K33 Research, in its “Ahead of the Curve” report, highlighted that current market conditions are relatively calm as the market braces for volatility as it absorbs the impact of Trump’s tariff announcements. According to the report, markets may remain calm until April 2, the scheduled date of Trump’s reciprocal tariffs announcement. The announcement is shaping up to become an important market event and could reignite investor activity across crypto and the broader financial market. If the President softens his tariff stance, markets could see a substantial rally. However, if his plans remain vague, markets could witness increased volatility, hitting both long and short positions. An analyst from K33 Research stated, “In a back-and-forth scenario, we could see a market environment similar to February and early March, when tariffs dominated the narrative. The US economy remains strong but is widely expected to slow due to tariffs—a risk already largely priced in by most economists.” GameStop Adds BTC As Reserve Asset GameStop (GME) has announced that it has updated its investment policy to include Bitcoin (BTC) as a treasury reserve asset. The update sees GameStop follow in Strategy’s (MicroStrategy) footsteps. Strategy currently holds a staggering 506,137 BTC , acquired for $33.7 billion at an average price of $66,608 per BTC . GameStop’s latest move aligns with a broader trend of institutional adoption of Bitcoin, driven by President Donald Trump’s executive order to create a strategic Bitcoin reserve using government-held Bitcoin and other crypto assets. Donald Trump’s Crypto Council Chief and Head of the Presidential Council of Advisors for Digital Assets, Bo Hines, stated in an interview that he is open to the idea of exchanging Fort Knox Gold Reserves for Bitcoin as long as it does not impact the government’s budget balance. “If it’s budget neutral and doesn’t cost a taxpayer a dime, you kind of exchanging one for the other.” Hines also stressed the administration’s support for innovation across the crypto ecosystem, noting that Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA) were highlighted due to their market cap. Bitcoin (BTC) Price Analysis Bitcoin (BTC) could suffer its worst first quarter in years unless it pulls off an almighty rally before March 31. According to data from CoinGlass, BTC is down nearly 7% for the quarter, which will end March 31, making it the worst Q1 performance since 2020, when it registered a drop of almost 11%. However, analysts believe the market is unlikely to see a rally before the end of the quarter, with Swftyx lead analyst Pav Hundal stating that a “vertical swing up to the end of the quarter looks unlikely.” According to Hundal, the crypto market may be flying blind until the middle of April, after which it will have clarity on US President Donald Trump’s tariff plans. Hundal also stated that the economic data shows the global economy is in decent shape. Other analysts believe it is only a matter of weeks after April when BTC sees its next significant rally. According to crypto commentator Colin Talks Crypto, BTC could begin a major rally around April 30. Meanwhile, Swan Bitcoin CEO Cory Klippsten believes there is more than a 50% chance the flagship cryptocurrency will hit a new all-time high before the end of June. BTC has been trading in a steady upward trajectory since March 11, when it dipped to a low of $76,642 before making a strong recovery. The flagship cryptocurrency started the previous week on a bullish note, rising almost 2% and settling at $84,016. However, it lost momentum on Tuesday, falling to an intraday low of $81,187 before settling at $82,725, ultimately registering a decline of 1.54%. Markets rallied on Wednesday following the FOMC meeting. As a result, BTC surged over 5%, moving past the 20 and 200-day SMAs and $85,000 to settle at $86,878. However, the rally was short-lived as buyers lost momentum on Thursday. As a result, BTC dropped over 3%, slipping below the 20 and 200-day SMAs and settling at $84,215. Source: TradingView Price action remained muted on Friday and Saturday as BTC registered marginal declines and settled at $83,822. However, sentiment changed on Sunday as buyers returned to the market, and BTC rose almost 3% to cross the 20 and 50-day SMAs and settle at $86,116. Buyers retained control on Monday as BTC surged to an intraday high of $88,839 before settling at $87,523, ultimately registering an increase of $87,523. Momentum waned on Wednesday as BTC faced volatility, allowing sellers to take the upper hand and push the price marginally down. The current session sees BTC marginally down as sellers look to drive the price below $85,000. Buyers will look to regain control and push BTC above $90,000. A break above this level could set it up for a push towards $100,000. On the other hand, sellers will look to retain control and push BTC below the moving averages and $85,000. The MACD and RSI are bullish, indicating buyers have the upper hand. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
