Bitcoin's price has been on a downward trend, reaching an intra-day low of $83,387 on March 28, marking its fourth consecutive day of decline. This drop follows a significant sell-off in the U.S. equities market, where the DOW fell by 700 points and the S&P 500 dropped by 112 points. The decline is largely attributed to investor concerns over rising inflation, as indicated by the core Personal Consumption Expenditures (PCE) index data for February, which increased to 2.8%, surpassing expectations. Furthermore, the situation was exacerbated by U.S. President Trump's announcement of new "reciprocal tariffs," which impose a 25% tariff on foreign-made cars. Traders are now closely monitoring upcoming developments, particularly on April 2, which Trump has designated "Liberation Day," when more tariffs are expected to be introduced, including those on pharmaceuticals. Veteran trader Peter Brandt has indicated that Bitcoin might be heading toward the $65,635 mark based on technical analysis. He described the formation of a "bear wedge" pattern that suggests further declines. Similarly, other traders have noted Bitcoin's inability to break a long-term downtrend, supporting the notion that it may revisit its range lows. Despite the current bearish sentiment from a technical perspective, some analysts remain optimistic. Crypto trader Cole Garner highlighted that large Bitcoin holders ("whales") are becoming increasingly active, with significant buying activity reflected in historical indicators that have previously shown substantial returns within short time frames. On the regulatory front, there have been positive movements regarding crypto engagement within traditional banking. The White House's AI and Crypto Czar, David Sacks, acknowledged the FDIC for clarifying the regulatory framework that will enable banks to offer crypto-related services without prior notification. This development suggests a more accommodating regulatory approach toward cryptocurrencies, potentially fostering growth in the industry. Overall, the situation remains fluid as traders and investors balance the technical signals, market sentiments, and regulatory developments.

Bitcoin's price has been trending downward, reaching an intra-day low of $83,387 on March 28, marking the fourth consecutive day of decline. This drop coincides with a significant sell-off in the U.S. equities market, where the DOW fell by 700 points and the S&P 500 dropped by 112 points. The downturn is attributed largely to increasing investor concerns over inflation, highlighted by the rise of the core Personal Consumption Expenditures (PCE) index data for February, which climbed to 2.8%, exceeding expectations. The situation was compounded by U.S. President Donald Trump's announcement of new "reciprocal tariffs," which impose a 25% tariff on cars not manufactured in the United States. Traders are keeping a close eye on April 2, which Trump has dubbed "Liberation Day," as more tariffs—including those on pharmaceuticals—are expected to be announced. Veteran trader Peter Brandt has suggested that Bitcoin may be on a trajectory toward $65,635 based on technical analysis, pointing to the completion of a "bear wedge" pattern that indicates potential further declines. Other traders have also noted Bitcoin's failure to break free from a long-term descending trendline, reinforcing the belief that the cryptocurrency could revisit its lower trading ranges. Despite the prevailing bearish sentiment from a technical standpoint, there are signs of optimism among some analysts. Crypto trader Cole Garner noted increased activity among large Bitcoin holders, or "whales," highlighting a significant surge in buying activity reflected in metrics that historically produced substantial returns within short timeframes. On the regulatory front, there have been encouraging developments regarding cryptocurrencies' integration within traditional banking. David Sacks, the White House's AI and Crypto Czar, praised the FDIC for clarifying the regulatory framework allowing banks to engage in crypto-related services without prior notification. This more accommodating approach to regulation could potentially spur growth within the crypto industry. Overall, the market environment remains fluid as traders and investors balance technical indicators, market sentiments, and ongoing regulatory changes.