• Bitcoin fell below $63k, extending overnight weakness amid tariff concerns. • $60k support level critical; break could push price into mid‑low $50k. • Historical pattern: Bitcoin rarely bottoms until 50‑week MA crosses below 100‑week MA. • AI jitters and geopolitical tensions add to bearish sentiment. • BTC down nearly 7% week‑to‑date, last seen near $60k on Feb 6. • Traders watch 50‑week vs 100‑week MA crossover for next major move.
Article Summaries:
- Bitcoin fell below $63,000, slipping toward the $60,000 support level that analysts are watching closely. The dip follows renewed uncertainty over President Trump’s tariff announcements, which have weighed on markets and prompted a broader sell‑off in equities and crypto. Bitcoin is down nearly 7% for the week, trading at levels last seen in early February. Technical analysts note that Bitcoin typically does not find a lasting bottom until its 50‑week moving average crosses below the 100‑week average-a bearish “bear cross” that has marked the end of past bear markets. As that crossover has not yet occurred, further downside toward the mid‑low $50,000 range remains a possibility.
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