Bitcoin Price Prediction – BTC Targets $82,477 Support as Bears Take Control

Highlights:

• Bitcoin price is in correction after failing at the $83,751 resistance
• Correction puts $82,477 support in focus
• Macro-uncertainty could see Bitcoin lose the $82,477 support 

As financial markets respond to President Donald Trump’s sweeping new tariffs, Bitcoin is trading on the downside today. At press time, BTC was $83,651, marking a decline of 1.44% in the daily timeframe. Furthermore, trading volumes experienced an 87% surge, amounting to $53 billion, indicating increased investor participation and potential risk-off positioning.  

Markets suffered a downturn after Trump imposed tariffs on 185 countries during his “Make America Wealthy Again” event. The White House set a baseline 10% tariff on imports from all countries, with punitive rates for selected areas: 34% for China and 20% for the European Union. 

The reaction was immediate, with the S&P 500 losing $2 trillion in market capitalization within a quarter of an hour. Nasdaq 100 futures traded off almost 900 points before finding equilibrium. By 8:45 PM ET, Dow Jones futures were off 1.26%, S&P 500 futures were down 1.16%, and Nasdaq 100 futures lost 1.20%.

Oh my god. At the exact moment Trump announced his tariffs the market crashed in real time.

CNBC is SAVAGE for doing the side by side.

pic.twitter.com/7zChENvtY9

— CALL TO ACTIVISM (@CalltoActivism) April 2, 2025

Bitcoin Funding Rate Turning Negative – Potential Rebound Signal

Besides the marketwide correction, the BTC funding rate has turned negative. Analyst Axel Adler pointed out that the funding rates on major exchanges like Binance, ByBit, OKX, and Deribit have become negative. This pattern has occurred four out of the last five times and preceded a price rebound, providing a bullish signal. 

There are fundamental reasons that support a potential rebound for Bitcoin price. On-chain data points to the possibility of a positive change. Companies have started to buy Bitcoin, the selling pressure in the spot markets is diminishing, and there has been a resurgence of long-term holders.  

According to Adler, the biggest hurdle remains the macro backdrop. Strong capital inflows, especially through ETFs, would require favorable Fed or Trump administration cubs. In turn, renewing cash inflow would trigger a breakout rally.  

On the four major exchanges – Binance, ByBit, OKX, and Deribit – the average funding rate has dropped into negative territory, currently, the metric is just above zero.

In this cycle, in four similar instances it ended with a price increase and once with a decline.

The… pic.twitter.com/vOzrWncoDM

— Axel 💎🙌 Adler Jr (@AxelAdlerJr) April 2, 2025

Momentous Advance in BTC Adoption by Corporates

Investor Bill Miller IV considers corporate Bitcoin adoption a major catalyst. He pointed out Strategy (previously MicroStrategy) as a textbook case of using Bitcoin to solve financial problems. The firm has continued to purchase Bitcoin over time, funded through equity and convertible notes.

Miller indicates that over 70 publicly listed companies have BTC on their balance sheets. While not all businesses can implement Strategy’s approach, many view Bitcoin as a protection against inflation and monetary debasement.

Businesses facing headwinds in their primary lines of business or industry may see Bitcoin as a means of protecting shareholder value. Miller claims that Bitcoin is no longer a purely speculative asset but rather a means to preserve capital fundamentally.  

Bitcoin as a Strategic Hedge in Response to Inflation Concerns

Miller also highlighted that Bitcoin is a logical answer to monetary debasement. With policymakers targeting 2% inflation as a goal, companies and people stand to lose purchasing power if capital is not placed appropriately.

With improved regulatory clarity, Miller expects corporate adoption to surge faster. He believes this is the defining moment for CFOs and corporate treasurers to decide. Such could trigger a Bitcoin price despite the uncertainty that tariffs have brought to the financial markets. 

Technical Analysis – BTC Forms Double Top at Critical Resistance

Bitcoin is in correction after establishing a double top at the $83,751 resistance. The ongoing correction puts the $82,477 support in focus. 

A crash through this support could see BTC drop to $81,472 support in the short term. On the other hand, if Bitcoin rebounds through the $83,751 resistance, a rally back to $85k could follow in the short term.