GameStop said in a Tuesday 10-K filing that it still holds 4,710 BTC worth roughly $368 million, following two months of market speculation. The filing states 4,709 BTC are pledged as collateral via Coinbase Prime/Coinbase Credit and 1 BTC remains held directly, with no Bitcoin sale reported. It also details a covered-call strategy using short-dated call options with $105,000–$110,000 strike prices expiring March 27.

At 8:30 a.m. Eastern time on March 28, 2026, bitcoin traded just above $66,000 while repeatedly testing the $65,500–$66,000 support area in a tight intraday range. The broader setup remained cautious, with BTC still below major moving averages and resistance clustered around $68,000–$69,000 and $70,000–$72,000. A move under $65,000 could open the way toward $62,000, while a sustained push above $67,000 may shift the short-term structure upward.

On 28 March 2026, Sen. Elizabeth Warren pressed the U.S. Commerce Department for records on how it is addressing what she described as potential national security risks tied to Bitmain. The concerns referenced include whether China-linked remote access could enable espionage or power-grid disruption, alongside Bitmain's outsized role in mining hardware supply and recent large U.S. purchases of its rigs.

Bitcoin fell to $65,548 before trading near $66,338, down 3.3% on the day, alongside heavy downside volatility. Liquidations reached $183 million, including $170 million in long positions, while on-chain trackers noted whales leaning into short exposure. Derivatives flows and momentum readings stayed negative, leaving $65k in focus, with $63,400 cited as a potential next level if selling persists.

Bitcoin continued to edge lower as traders rebuilt derivatives exposure while spot demand weakened. Analysts cited three consecutive days of BTC moving back onto exchanges, rising open interest, and a return to negative funding as signs of cautious positioning. They also pointed to a deeper negative Coinbase Premium versus a positive Korea Premium as evidence of regional demand divergence.

An Arkham report released Saturday, March 28, ranked Satoshi Nakamoto as the largest Bitcoin holder at about 1.1 million BTC worth over $77 billion, while Coinbase appeared second with roughly 982,000 BTC. The same data set showed Strategy with 738,000 BTC in total, including about 443,000 BTC visible on-chain. Commentators said Coinbase’s figure reflects user custody rather than corporate holdings, unlike Strategy’s treasury position.

Bitcoin slid to $65,498 on Friday, its lowest level since March 2, after the year's biggest options expiry and continued outflows from crypto ETFs. BTC was last down 2.28% over 24 hours to $66,322 and 6.11% on the week, while analyst Willy Woo cautioned that oversold signals can persist for months despite traders citing an extremely low monthly RSI.

Bitcoin posted a nearly 25% drawdown in Q1, as macro volatility intensified and markets leaned toward tighter U.S. monetary policy. Rate expectations shifted toward potential hikes into 2027, while sentiment weakened and short-term holders sent about 21,700 BTC to exchanges in the past 24 hours at a loss. The mix of falling risk appetite and muted institutional demand is raising questions about whether the pullback is turning into a broader bearish phase.