Bitcoin (BTC) has registered a marginal increase during the ongoing session as it looks to stem a decline that saw it dip to an intraday low of $81,697 on Saturday. The flagship cryptocurrency is up almost 1% during the ongoing session, trading at $83,317. The broader cryptocurrency market has also substantially dropped over the past few sessions. The crypto market cap dropped almost 1% to $2.7 trillion in the past 24 hours. Crypto Market Continues Decline The cryptocurrency market has declined substantially over the weekend, with major cryptocurrencies, including BTC , trading in the red. The flagship cryptocurrency dropped more than 5% over Friday and Saturday before registering a marginal recovery during the ongoing session. According to analysts, the drop is part of a wider derisking move among traders as investors anticipate the impact of President Trump’s reciprocal tariffs, set to come into force on April 2. The decline in crypto prices accelerated after core Personal Consumption Expenditure (PCE) numbers came in hotter than expected. Consumer confidence data has dropped more than expected this week, while the index for future expectations came at a 12-year low. The markets also saw over $300 million worth of long positions liquidated on centralized cryptocurrency exchanges, while over $38 million worth of shorts were liquidated. All of these factors have led to investors reducing their exposure to risk assets, triggering a flight to safe-haven assets. Robert Kiyosaki Doubles Down On Bitcoin Robert Kiyosaki, the author of the best-selling book Rich Dad Poor Dad, believes the world is already in a recession, as he offered his take on the state of the economy. Kiyosaki doubled down on Bitcoin , stating that inflation is theft and fiat money is a trap, and urged investors to switch to Bitcoin, gold, and silver. Kiyosaki shared his thoughts in a post on X, stating, “Is the world in a recession? I say Yes. And I have been doing my best to warn people since I wrote Rich Dad’s Prophecy in 2012. Emphasizing that it’s not too late to pivot and make changes. The facts are the world is in a recession. The facts are inflation is going up, and so is unemployment. The most important question is: What are you going to do about this recession? Will this recession make you richer or poorer? The choice is yours, and your choice of education can be free. Take care, and make this recession the best thing that has ever happened to you. You and only you have that power.” Kiyosaki reiterated his stance on money, adding that he has always advocated that people not save fake money, referring to fiat currency, and recommended saving real gold, silver, and more recently, Bitcoin. Kiyosaki noted, “The rich get richer: For many years, I have been recommending people not save fake money aka fiat government money. For years, I have recommended saving real gold and silver coins, and recently bitcoin. As the prices of gold, silver, and bitcoin go up the purchasing power of those who work for and save fake money get poorer via government theft known as inflation.” The renowned author called silver the most undervalued of the three investments in the short term, stating, “Silver for the next two months is the best of the three. I believe silver may soon be $70 an ounce this year and $200 in a year or two.” Kiyosaki has always spoken against fiat currency, warned of growing inflation, and predicted economic turmoil. The author has consistently championed assets like gold, silver, and Bitcoin as tools for financial independence. Bitcoin (BTC) Price Analysis Bitcoin (BTC) registered a sharp drop on Saturday, dropping over 2% to a low of $81,697 before settling at $82,704. The decline can be attributed to hotter-than-expected inflation data, higher US tariffs, and uncertainty about the Bitcoin Act, adversely impacting market sentiment. Investors also reacted to the US Personal Income and Outlays Report. US spot Bitcoin ETFs also snapped a 10-day inflow streak, with the Fidelity Wise Origin Bitcoin Fund (FBTC) registering net outflows of $93 million. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) and other issuers registered zero net flows. Despite Friday’s outflows, spot Bitcoin ETFs registered $196 million in net inflows for the week ending March 28, indicating short-term bearishness but long-term resilience. CryptoQuant Head of Research Julio Moreno stated, “As we keep mentioning, Bitcoin demand remains in contraction mode, declining at the fastest pace since Dec. 2023.” BTC registered a sharp increase on Wednesday, rising above the 20 and 200-day SMAs. However, it lost momentum on Thursday, dropping below the moving averages and settling at $84,215. Price action remained bearish on Friday and Saturday as BTC registered marginal declines and settled at $83,822. Sentiment changed on Sunday as BTC rose nearly 3% to move past the 20 and 200-day SMAs and $86,116. Buyers retained control on Monday, and BTC raced to an intraday high of $88,839. However, it could not stay at this level and settled at $87,523, ultimately registering an increase of 1.63%. Source: TradingView However, momentum stalled on Tuesday as BTC encountered volatility and selling pressure. As a result, the price registered a marginal decline and settled at $87,417. Sellers retained control on Wednesday as BTC registered another marginal drop, slipping below $87,000 and settling at $86,842. BTC registered a marginal increase on Thursday to reclaim $87,000 and settle at $87,236. However, market sentiment turned bearish on Friday. As a result, BTC plunged over 3%, slipping below the 200-day SMA and settling at $84,422. The price continued to drop on Saturday, falling below the 20-day SMA to $82,704, but not before dropping to a low of $81,697. BTC has recovered during the ongoing session, registering a marginal increase and trading around $83,390. BTC’s near-term outlook depends on macroeconomic indicators and regulatory signals, along with upcoming US jobs data numbers. If ETF inflows resume and bulls retain control, BTC could move back above the 20 and 200-day SMAs and push towards $90,000. A break above this level could see a move to $100,000 materialize. On the other hand, if selling pressure returns, BTC could drop to $80,000 or lower. 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.
