Bitcoin Price Prediction – $90k in Sight Despite Continued Range-Bound Trading

Highlights:

• Bitcoin is rangebound as market activity remains subdued
• Bullish factors, such as GameStop’s move to adopt Bitcoin, could trigger a rally
• Breakout could see Bitcoin rally to $90k in the short term

Bitcoin’s price has changed little today, an indicator of the low activity level in the cryptocurrency market. When going to press, Bitcoin was trading at $88,169.57, an increase of 1.15%. However, trading volumes have fallen by 13.45% to $28.27 billion. 

This indicates a slow market where investors are waiting for a strong force to stir price activity. Even though bullish market sentiments are expected to dominate, there remains a chance that Bitcoin could break out in either direction.

Bullish Speculation Increases as GameStop Purchases BTC

One key factor that could trigger a bullish breakout is corporations’ growing adoption of Bitcoin as a reserve asset. The latest to do this is GameStop. GameStop has disclosed plans to incorporate Bitcoin into its treasury, and the board unanimously endorsed the decision. At the end of Q4, the corporation had $4.76 billion in cash and cash equivalents, which is quite a considerable amount if converted into Bitcoin.

GAMESTOP ANNOUNCED PLANS TO BUY A MASSIVE AMOUNT OF #BITCOIN.

NOW IT'S PUMPING!!!

pic.twitter.com/qYROunLKAr

— Kyle Chassé / DD (@kyle_chasse) March 26, 2025

A few weeks before, GameStop CEO Ryan Cohen hinted at a possible Bitcoin purchase, fueling even more speculation. Early this month, Cohen was spotted alongside MicroStrategy Executive Chairman Michael Saylor at Donald Trump’s Mar-a-Lago estate, raising eyebrows regarding what could potentially be GameStop’s Bitcoin strategy.

Robinson and Associates’ CEO Matt Cole later publicly sent an open letter arguing that GameStop should use some of its cash reserves to purchase Bitcoin. Cohen tweeted a response to these accusations, adding fuel to this speculative fire. Following the announcement, GameStop shares surged 5.7% in after-hours trading, and Bitcoin saw a slight increase to $88,500, marking a 0.2 percent increase.

Downward Pressures Still Exist for Bitcoin Price

However, bearish factors loom that suggest Bitcoin could reach new short-term lows. Analysts typically consider bullish at this stage in the cycle, and they have become more guarded. If Bitcoin does not stage an impressive rally over the next few days, it will suffer the most disappointing first-quarter results since 2020.

GLOBAL M2 HITS NEW ATH

Based on the high correlation of the 107-day offset, Bitcoin could begin its next major blast-off around April 30, 2025.

Learn more at the video below https://t.co/NsuE7Wy14c pic.twitter.com/6CeIfATEMM

— Colin Talks Crypto (@ColinTCrypto) March 18, 2025

Currently noting a 6.49% decline for the quarter, Bitcoin’s Ethereum counterpart is considerably worse off, plummeting 37.98%, marking the most disheartening Q1 since 2018. The broader crypto market has also faced challenges, showing an 11.65% decline since the year’s commencement. 

Swyftx lead analyst Pav Hundal shares that there is no anticipated sharp turnaround before the quarter’s end and little expectation for a substantial rally before March 31. Investor confidence will remain muted until mid-April, when more clarity regarding economic policies, such as Trump’s tariff plans, will be available. 

Analysts Expect Bitcoin Growth in the Future

Some analysts remain hopeful about Bitcoin’s future despite its challenges. Swan Bitcoin CEO Cory Klippsten estimates there is over a 50% likelihood that Bitcoin will achieve unprecedented market prices before July starts. Traditionally, Q1 has been one of Ethereum’s most successful quarters and also ranks as the second-best quarter for Bitcoin, with an average return of 51.62% since 2013.

Technical Analysis – Bitcoin Price Could Be Headed for A Breakout

Bitcoin is currently trading in a broad range between the $86,421 support and $88,488 resistance. If bulls take control and push Bitcoin through the $88,488 resistance, a rally to $90k could follow. 

On the other hand, if bears take control and push Bitcoin through the $86,421 support, a correction to $80k could follow. Bitcoin’s direction will depend on where volumes flow in the short term. 

Recap

Bitcoin continues to trade in a range as volumes remain subdued. However, long-term trends of adoption and institutional interest are gaining momentum. Should macroeconomic factors normalize and corporate adoption increase, Bitcoin could break out bullish, with $90k as the first target.