Bitcoin Price Steadies Amid US Tariff Uncertainty; GameStop Surges on Crypto Move

Bitcoin Price Action and Tariff Concerns

Bitcoin traded cautiously on Wednesday, slipping 0.9% to $87,350.0 as investors awaited President Donald Trump’s planned reciprocal tariffs, set to begin on April 2. The tariffs, initially expected to be broad, are now rumored to target countries with significant trade imbalances, causing market unease.

Analysts warn of potential resistance at the $90,000 level, with concerns that Bitcoin’s recent rise could be a “bull trap.” This pattern, where prices briefly surge before dropping, has left investors wary of false signals.

GameStop’s Strategic Bitcoin Investment

GameStop Corp. announced a significant shift in its financial strategy, approving the inclusion of Bitcoin in its treasury reserves. This move aligns the company with others like MicroStrategy, which have embraced Bitcoin as a financial asset.

The announcement coincided with GameStop’s Q4 earnings report, which showed net sales of $1.283 billion, down from $1.794 billion year-over-year. Despite the revenue decline, the company reported a net income of $131.3 million, driven by cost-cutting measures.

GameStop’s stock surged over 11% following the news, reigniting interest in the so-called “original meme stock.”

Crypto Market Overview

Most altcoins saw muted movement amid cautious sentiment. Ethereum dropped 1.2% to $2,032.79, while XRP fell 0.5% to $2.42. Solana and Cardano also declined, but Polygon jumped 5%.

Meme tokens showed stronger activity, with Dogecoin climbing over 6% and $TRUMP rising 1.3%.

The cryptocurrency market remains sensitive to geopolitical developments, with trade policy news continuing to influence price movements.