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Bitcoin (BTC), the flagship cryptocurrency, remained range-bound on Friday, March 28, 2025. Bitcoin attempted a recovery above $86,800 but is struggling to clear key resistance levels around $88,000 to $88,200. However, it is holding steady above $87,200 after bulls defended the support at $85,900.
At around 10:30 AM on Friday, Bitcoin, the world’s largest cryptocurrency, was quoted trading at around $86,174.94, down 1.51 per cent. BTC has traded in the range of $87,702.17 to $85,837.93 in the last 24 hours.
The 24-hour trading volume for the flagship currency is $23.08 billion, while its market capitalisation stands at approximately $1,709.9 billion, according to data sources from Binance.
A successful breakout above the $88,000 to $88,200 levels, Riya Sehgal, research analyst at Delta Exchange, said, could reignite bullish momentum. Until then, however, the market remains vulnerable to further downside.
The escalation of trade tensions following US President Donald Trump’s tariff announcement, Sehgal believes, has injected fresh volatility into traditional markets.
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Investors, analysts said, are now awaiting the Core Personal Consumer Price Index (PCE) data due later today, as it could alter the US Fed’s narrative—impacting the decision on rate cuts.
"Historically, periods of heightened geopolitical and economic uncertainty have seen digital assets like Bitcoin viewed as alternative stores of value, although their correlation with risk assets remains evident in the short term. On a positive note, Bitcoin ETFs continue to see steady inflows, signaling institutional interest," Sehgal said.
Meanwhile, Ethereum (ETH), which is the world’s second-largest cryptocurrency by market capitalisation, is facing a similar trajectory, failing to maintain strength above $2,100 and now testing support below $2,040. Ethereum was quoted trading at around $2,003.24, down 0.77 per cent.
Edul Patel, CEO and co-founder of Mudrex, believes that Ethereum is gearing up for a potential relief rally. According to CoinGlass data, futures traders have committed 10.84 million ETH in open interest, signaling renewed confidence among ETH holders. This, Patel said, signals renewed confidence among ETH holders.
That said, the other popular cryptocurrencies were also trading lower, with Ripple (XRP) trading down by nearly 4 per cent, and Solana (SOL) down by 3 per cent. Binance Coin (BNB), on the other hand, traded higher by nearly 1 per cent.
