Bitcoin News: Price Correction and Bearish Outlook After Inflation Data Release

The cryptocurrency market, particularly Bitcoin, experienced significant volatility following the release of US inflation data. Here’s a closer look at the key developments and future projections.

Bitcoin Price Correction Following Inflation Data

The Bitcoin price surged to $88,500 on Monday, March 24 but retraced to around $84,000 by Friday, March 28. This correction came after the release of US inflation data suggesting delayed rate cuts by the Federal Reserve, putting pressure on risk assets including cryptocurrencies. Crypto analyst Crypto Capo has projected a bearish outlook for Bitcoin, raising concerns about a potential price fall to $62,000.

Warren Buffett Quotes Influence Bitcoin’s Price Today

Warren Buffett, known as the Oracle of Omaha, made his name due to his outstanding success in free capital markets. Unlike many who rely on news, Buffett ignored the noise and focused on reading company financial statements. Despite his success, Buffett has not shown interest in Bitcoin, which continues to gain independently. His wealth has grown by $18 billion this year, propelling him past Bill Gates on the Bloomberg Billionaires Index.

GameStop Investor Suggests $2.5B Bitcoin Investment

Vertical Research Advisory partner Kip Herriage advised GameStop’s Ryan Cohen to invest at least $2.5B of their $5B into Bitcoin. Herriage made this statement on Fox News, emphasizing that Cohen should have made this move a year or two ago when Bitcoin was priced between $30K-$50K. This isn’t the first time Herriage has expressed this opinion, as he previously advised Cohen to follow MicroStrategy’s example in December 2024. This news could potentially rally new crypto projects.

Westlake Police Prevent Bitcoin ATM Scam

Westlake police report the prevention of a Bitcoin ATM scam. A couple attempted to withdraw $17,000 they believed was for a warrant from the Cuyahoga County Sheriff’s Office. The bank manager noticed the unusual transaction and informed the police. While the couple was saved from the scam, two other residents fell victim to similar incidents. Captain Jerry Vogel of the Westlake Police Department praised the bank clerk for alerting them to the potential scam.

Bitcoin Under Pressure, But Shows Early Signs of Recovery

Bitcoin is under pressure as sellers defend the $90,000 level, halting recent bullish momentum. Renewed selling pressure has consolidated BTC below key resistance, sparking concern among analysts of a potential bear market shift. Sentiment is mixed, with some seeing weakness as a sign of a downtrend while others remain optimistic due to long-term trends, institutional interest, and continued demand.