Bitcoin fell below $63,000 during Asian trading hours, extending overnight weakness amid President Donald Trump’s tariffs and AI jitters that have soured investor sentiment.
The leading cryptocurrency by market value is already down nearly 7% for the week, trading at levels last seen on Feb. 6, when prices nearly plummeted to $60,000, according to CoinDesk data.
“Similar to stocks, Bitcoin saw a sharp pullback today, largely due to renewed pricing uncertainty, similar to the events of April 2025. Additionally, growing geopolitical tensions could likely prove bearish for BTC in the near term,” Matt Howells-Barby, Kraken VP, Pro Trader and host of Trading Spaces, told CoinDesk in an email.
He added that the $60,000 level is a key support that bulls are watching closely. “If this level fails to sustain, we could potentially see a move towards the mid to low $50,000 range,” he noted.
U.S. stocks fell Monday after Trump announced he would impose temporary 15% tariffs on imports from other countries, up from the 10% rate announced Friday following the Supreme Court’s decision to reverse his tariff strategy. Meanwhile, investors have continued to sell shares in companies that stand to lose out on the AI revolution.
The story favors a bigger BTC sell-off
History shows that BTC rarely bottoms until the 50-week average price drops below the 100-week average price. This so-called bearish crossover marked the end of all major bear markets, including those of 2022 and 2018.
We are far from this signal today, because the average price over 50 weeks remains well above that over 100 weeks.
So, if past data is any guide, the market could fall further, potentially to $50,000 or less, as several experts told CoinDesk at Consensus Hong Kong before the averages turned bearish and capitulation took hold.
This trend may seem counterintuitive: the 50-week average falling below the 100-week signal further weakens the momentum.
But this fits perfectly with the lagging nature of moving averages: crossovers confirm what has already happened – and don’t predict what’s next – so long-term crossovers have tended to trade Bitcoin’s bear market lows.
That said, as with any indicator, past results do not guarantee future results.
