Bitcoin News: BTC Price Rally to $110K Faces Hurdles Amid Bearish Signals from Macro Index

BTC Price Rally to $110K Could Fail According to Bitcoin Macro Index

Facing a strong rejection at $89,000, Bitcoin’s (BTC) price has already staged some reversal ahead of US PCE data release on Friday. As of press time, BTC is down 1.76%, trading at $84,986, with daily trading volume up by 20% to more than $30 billion. The Bitcoin Macro Index, developed by Capriole in 2022, leverages machine learning to analyze a broad range of metrics and shows signs of a bearish market ahead as BTCUSD struggles to break past crucial resistance levels.

Peter Brandt Validates Possible $70,000 Bitcoin Price Prediction

The price of Bitcoin (BTC) has dropped below $86,000, raising concerns about further declines. Legendary trader Peter Brandt has weighed in on the situation, acknowledging that a fall to $70,000 is a reasonable expectation. This decline comes as traders and investors await the US PCE inflation report, which could influence the market’s direction.

GameStop (GME) Stock Crashes 22% After Bitcoin Reserve Plan

GameStop Corp (NYSE: GME) stock crashed by more than 22% on March 27, two days after the firm announced a plan to build its own Bitcoin reserves. Following the BTC plan announcement, GME trading volumes spiked to levels similar to GameStop’s 2021 short squeeze, forcing the New York Stock Exchange (NYSE) to impose a Short Sale Restriction (SSR). The SSR comes into effect whenever the stock price drops over 10% from the previous day’s closing. With its latest crash, GameStop stock lost its 12% gains accumulated after the announcement of the Bitcoin reserve plans. During yesterday’s closing session, the GME stock was trading at $22.09. As per the data, GameStop (GME) short sales volume surged significantly.

Bitcoin (BTC) Plunges Below $84K, Faces $71K Risk Amid Market Uncertainty

Bitcoin fell below $84K after being rejected at $89K, indicating a potential decline to $71K. The current price is $83,089, with a market cap of $1.65T and a trading volume of $17.07B. Analyst Astronomer sees $83K–$84K as key support but cautions of further downside risk. Bitcoin recently tested a significant resistance level but failed, remaining below its daily 200MA/EMA. With April 2 approaching, traders anticipate possible market alterations and prefer to wait before making significant trades.

Bitcoin Thrived Under Biden’s Rules, Falls 13% Under Trump

Since President Donald Trump took office in January 2025, bitcoin (BTC) has fallen 13%, dropping from $101,000 to $87,000. Prominent figures in the crypto industry have rallied behind Trump despite his previous criticism of BTC. Trump’s World Liberty Financial project has invested millions in tokenized BTC, and the federal government is stockpiling more on his orders. However, the performance of BTC has not matched the hype surrounding Trump’s pivot to crypto.