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Bitcoin falls below $63,000, historical trends suggest potential further declines before reaching a low point.
Bitcoin continues its overnight decline amid renewed worries regarding President Trump’s tariffs.
BTC fell below $63,000. (sergeitokmakov/Pixabay)
Key points to note:
- Bitcoin continues its overnight decline amid renewed worries regarding President Trump’s tariffs.
- Market analysts indicate that the critical $60,000 support level is under close observation, with a potential breach possibly leading to the mid-to-low $50,000 range.
- Historical trends indicate that bitcoin may not establish a lasting bottom until its 50-week moving average dips below the 100-week average, suggesting further declines toward $50,000 or lower could be likely.
Bitcoin fell below $63,000 during trading hours in Asia, extending its overnight decline due to President Donald Trump’s tariffs and concerns related to AI that have affected investor confidence.
The leading cryptocurrency by market capitalization has already decreased by nearly 7% this week, trading at levels not seen since February 6, when prices nearly approached $60,000, according to CoinDesk data.
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"Similar to traditional equities, Bitcoin has experienced a significant pullback today, primarily driven by renewed uncertainty surrounding tariffs, reminiscent of the developments in April 2025. Additionally, escalating geopolitical tensions could likely have a negative impact on BTC in the near term," stated Matt Howells-Barby, vice president at Kraken, Pro Trader, and host of Trading Spaces, in a correspondence with CoinDesk.
He mentioned that the $60,000 level is a crucial support point that bulls are monitoring closely. "If that level fails to hold, we might see a shift into the mid-to-low $50K range," he remarked.
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U.S. stocks declined on Monday after Trump announced he would implement temporary 15% tariffs on imports from other nations, an increase from the 10% rate declared on Friday following the Supreme Court’s ruling that invalidated his tariff strategy. Meanwhile, investors continued to divest from companies likely to be adversely affected by the AI transition.
Historical trends suggest a deeper sell-off in BTC
Historical data indicates that BTC seldom sees a bottom until the 50-week average price falls below the 100-week average price. This so-called bear cross has historically marked the conclusion of every major bear market, including those seen in 2022 and 2018.
Currently, we are not close to that indicator, as the 50-week average price remains significantly above the 100-week.
If historical trends are any indication, the market could decline further, potentially reaching $50,000 or lower, as several experts noted to CoinDesk at Consensus Hong Kong before the averages align bearishly and capitulation occurs.
Bitcoin’s weekly chart in candlestick format with key averages. (TradingView)
The observed pattern may appear counterintuitive: the 50-week average declining below the 100-week average weakens momentum further.
However, this aligns perfectly with the lagging nature of moving averages: crossovers confirm what has already transpired rather than predict future movements, meaning long-term averages have typically marked the bottoms of bear markets in bitcoin.
That being said, as with any indicator, past performance does not guarantee future outcomes.
