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 almost 7% for the week, trading at levels last seen on February 6, when prices nearly fell to $60,000, CoinDesk data shows.
“Like stocks, Bitcoin has pulled back sharply today, largely driven by renewed tariff-related uncertainty, similar to the events of April 2025. Additionally, rising 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 the bulls are watching closely. “If that level does not hold, we could potentially see a move towards the mid-to-low $50,000 range,” he noted.
US stocks fell on Monday after Trump said he would impose temporary 15% tariffs on imports from other countries, down from the 10% rate announced on Friday following the Supreme Court’s decision to strike down his tariff strategy. Meanwhile, investors continued to sell shares of companies that could miss out on the AI revolution.
History favors a deeper BTC sell-off
History shows that BTC rarely bottoms until the 50-week average price crosses below the 100-week average price. This so-called bearish crossover has marked the end of all major bear markets, including those of 2022 and 2018.
Today we are nowhere near that signal, as the 50-week average price remains well above the 100-week average.
So, if past data is a guide, the market could fall further, potentially to $50,000 or lower, as several experts told CoinDesk at Consensus Hong Kong before the averages cross the downtrend and capitulation occurs.
The pattern may seem counterintuitive: The 50-week average falling below the 100-week signal further weakens momentum.
But it fits perfectly with the lagging nature of moving averages: crossovers confirm what’s already happened, they don’t predict what’s next, which is why long-termers have tended to trade bearish market bottoms in bitcoin.
That said, as with any indicator, past history provides no guarantee of future results.
