Bitcoin price falls amid market sell-off, potential drop to $65K predicted by traders as whales show activity.

Bitcoin price fell for a fourth consecutive day on March 28, hitting an intra-day low of $83,387, mirroring the sell-off on Wall Street. The decline was linked to concerns over inflation as the core Personal Consumption Expenditures index data showed a higher-than-expected rise. The sell-off was exacerbated by the introduction of reciprocal tariffs by US President Trump, causing a drop in equities. Traders are cautious ahead of April 2, labeled as “Liberation Day” by Trump, where more tariffs are expected. Veteran trader Peter Brandt suggested that Bitcoin could drop to $65,635, with other traders agreeing that a bearish trend is likely. Despite technical indicators not showing oversold conditions, some traders note increased activity among whales in the market. Positive developments in the crypto industry, such as regulatory clarifications by the FDIC, continue to support the market. The FDIC’s guidance allows banks to engage in crypto-related activities without prior notification. This article does not offer investment advice, and readers are advised to conduct their research before making any decisions.

In Trend

Ukraine’s Nuclear Past and Current Security Challenges: From Stockpile to Vulnerability in Russia-Ukraine Conflict

“India’s COVID-19 vaccination drive surpasses 100 million doses administered milestone, accelerating immunization efforts.”

Leave a Reply

Your email address will not be published. Required fields are marked *