Following the 25% import tax on cars and spare parts announced by US President Donald Trump, the fluctuations in financial markets have once again directed investors to safe havens. With these developments, Bitcoin continued its efforts to settle at $87,000 while maintaining a horizontal appearance today.

Trump's new tariff decisions, which will come into effect on April 2, caused a decrease of 1% and 2% respectively in the S&P 500 and Nasdaq indices, while Bitcoin behaved like traditional safe assets such as gold this time. Meanwhile, GameStop shares gained about 12% in value following the decision to use Bitcoin as a reserve asset.

Sales on exchanges, the impact of institutional demand on Bitcoin

In a period where institutional demands in the cryptocurrency market continue, especially with GameStop forming a fund for a $1.3 billion Bitcoin purchase, a positive atmosphere has emerged across the market. However, according to analysts, this move has not yet fully spread across the entire market.

While interest in spot Bitcoin ETFs continues, there have been outflows from Ethereum ETFs. The decline in Bitcoin's supply on exchanges to 7.53%, the lowest level in the last 8 years, indicates that investors are moving away from short-term selling pressure. This situation suggests that the upward potential in Bitcoin's price has increased.

Is Bitcoin in a rising trend again?

While Bitcoin is trading at $87,653, it is approximately 19% behind its previous peak of $108,786. The acceleration of institutional investments since March 14 has brought about a rise of more than 10% in Bitcoin. During this period, the increase in ETF entries has led to upward movement in price.

On-chain data shows that the declines in Bitcoin are now not in the range of 50-80% as they were in previous periods, but have remained more limited. This indicates that the market has matured, leading to discussions about the possibility of a 'mini bear market'. The negative difference between the average purchase prices of short-term investors and the current price indicates that selling pressure is still ongoing, but the withdrawal of investors from exchanges suggests that this pressure may decrease soon.

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