Bitcoin Price Rebounded Above $85K, After a Dip to $82K Levels

Key Points

• Following 24-hour BTC liquidations above $75 million, BTC price holds above $84,000.
• Interest in BTC investments continues as GameStop completes $1.5 billion offering.

Bitcoin’s price recorded a rebound, following yesterday’s drop to $82,000 levels, amidst continued interest in BTC investments from institutions and retailers.

Bitcoin Trades Above $84,000

At the moment of writing this article, BTC is trading above $84,000, up by almost 1% in the past 24 hours. On April 1, the digital assets recorded a price drop from above $84,000 to $82,000 levels.

BTC price in USD today

Following the price dip yesterday, Bitcoin debuted an ascendant trajectory, reaching prices above $85,000, before correcting to current levels.

The 24-hour BTC liquidations are over $75 million, with more than $26 million in long positions and over $49 million in shorts, according to CoinGlass data.

BlockBeats News says that if BTC falls below $82,000 today, the cumulative long liquidation intensity on mainstream CEXs will reach almost $1,2 billion. However, if BTC surpasses the $86,000 levels, the cumulative short liquidation intensity on mainstream CEXs will reach over $1,26 billion.

Considering the continued interest in Bitcoin from institutions and retailers, the digital asset has enough support at the moment.

Interest in Bitcoin Continues

Apart from rising institutional interest in BTC, retail has also joined the race, with GameStop announcing that it had just concluded its $1.5 billion offering.

According to official reports, the notes were issued on April 1, and they will mature on the same day, in 2030, unless converted, redeemed, or repurchased.

After GameStop completed its note offering, the company raised $1.48 billion, and it’s expected to use the proceeds for general corporate purposes, including Bitcoin acquisitions.

GameStop official notes

Today, the GameStop share is up by over 1%, trading at $22,61.

GameStop share price in USD today

GameStop recently announced the addition of Bitcoin to its Treasury on March 26.

The company’s entry into the Bitcoin accumulation global race marked an important moment for the industry, following in the footsteps of Strategy₿, which began accumulating BTC in August 2020.

This week, another Bitcoin-centric company, Metaplanet, announced two acquisitions of BTC. The company bought 160 BTC today, and another 696 BTC on April 1.

As of today, April 2nd, the company holds 4,206 BTC worth over $354 million.