Bitcoin is trading around $87,000, remaining mostly stable despite market uncertainty
Trump announced 25% tariffs on auto imports starting April 2, creating broader market concerns
BTC is facing technical resistance at the $88,200 level with support at $85,500
GameStop announced plans to adopt Bitcoin as a treasury reserve asset
Several companies are following Bitcoin treasury strategies similar to Strategy (formerly MicroStrategy)
Bitcoin’s price has been hovering around $87,000 in recent days. This comes amid new global market uncertainty after President Donald Trump announced plans for 25% tariffs on foreign-made cars and auto parts.
The world’s largest cryptocurrency is trading near $87,315 as of March 27, 2025. This represents a 10% increase from its early March lows but remains well below its January peak of nearly $110,000.
Technically, Bitcoin has maintained support above the $85,500 zone. The cryptocurrency appears to be forming a base for potential upward movement if it can overcome key resistance levels.
The price is currently trading above the 100 hourly Simple moving average. This suggests a slightly bullish short-term outlook despite the broader market concerns.
Bitcoin faces immediate resistance near the $87,700 level. This marks the 76.4% Fibonacci retracement level of the recent downward correction from $88,259 to $85,853.
The key resistance level sits at $88,000. Above that is a bearish trend line forming with resistance at $88,200 on the hourly BTC/USD chart.
If Bitcoin manages to close above the $88,200 resistance, it could move higher. In this scenario, the price might test the $89,500 level before possibly approaching the psychologically important $90,000 mark.
On the downside, Bitcoin has support near $87,000. The first major support level below that sits at $86,500, followed by stronger support around $85,500.
The MACD indicator is gaining pace in the bullish zone. Meanwhile, the Relative Strength Index (RSI) for BTC/USD remains above the 50 level, suggesting moderate buying momentum.
The moment of truth…
Bitcoin ($BTC) is at resistance, trading in a bearish rising wedge.
All eyes are on the stock market today after Trump announced a 25% tariff on imported cars.
President Trump’s recent announcement about auto tariffs has created broader market concerns. He plans to impose a 25% tariff on all foreign-made cars and auto parts starting April 2.
This policy aims to boost domestic car manufacturing. However, it has raised investor worries about a potential global trade war, creating a risk-off sentiment in financial markets.
During such periods, investors typically move away from volatile assets like cryptocurrencies. The announcement led to a sell-off in global stock markets, with the S&P 500 declining 1.1% and the NASDAQ Composite dropping 2%.
In contrast to the downturn in equity markets, gold prices rose. This reflects the classic shift to safe-haven assets during times of market uncertainty.
Corporate Bitcoin Adoption Accelerates
In other news, GameStop has announced plans to adopt Bitcoin as a treasury reserve asset. The company said it will use some of its $4.75 billion cash reserves as well as future debt or equity issuances to buy Bitcoin.
GameStop’s stock climbed almost 20% following the announcement. Traders are betting GameStop could follow in the footsteps of Strategy (formerly MicroStrategy), which has seen its stock rise 3,000% since it started buying Bitcoin in 2020.
Strategy now holds around 500,000 Bitcoin worth $42 billion. Its founder, Michael Saylor, recently predicted a “Cambrian explosion” of companies and countries buying Bitcoin.
Other companies like Metaplanet and Semler Scientific have also adopted Bitcoin treasury strategies. This growing trend could create additional institutional demand for the cryptocurrency.
The broader altcoin market has seen mixed performance. Ethereum, the second-largest cryptocurrency, fell 1.6% to $2,025.96, while XRP dropped 4% to $2.3661.
Solana declined 3%, and Cardano dropped 1.9%. Among meme tokens, Dogecoin rose 1.8%, while the $TRUMP token edged 0.3% higher.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear 
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