Bitcoin Price Falls Below $63K as Tariff Uncertainty and Market Weakness Weigh on BTC

Bitcoin (BTC) slid below $63,000 during Asian trading hours, extending its recent decline as global markets reacted to renewed U.S. tariff tensions and weakening investor sentiment around artificial intelligence stocks. The leading cryptocurrency, which was recently trading near $65,755, is now down nearly 7% for the week, revisiting price levels last seen in early February when BTC briefly approached $60,000, according to CoinDesk data.

Market analysts point to macroeconomic uncertainty as a key driver behind the latest Bitcoin price drop. President Donald Trump’s announcement of temporary 15% tariffs on imports, up from the previously proposed 10% rate, triggered a broad sell-off in U.S. equities. The decision followed a Supreme Court ruling that struck down an earlier tariff strategy, adding to market volatility. At the same time, continued selling pressure in AI-related stocks has further dampened risk appetite, impacting both traditional and crypto markets.

Matt Howells-Barby, Vice President at Kraken and host of Trading Spaces, noted that Bitcoin’s pullback mirrors weakness in equities. He explained that rising geopolitical tensions and tariff-related uncertainty could keep BTC under pressure in the short term. According to him, the $60,000 level is a critical support zone. If Bitcoin fails to hold above this threshold, prices could decline toward the mid-to-low $50,000 range.

From a technical analysis perspective, historical trends suggest the market may not have reached a definitive bottom. In previous bear markets, including 2018 and 2022, Bitcoin typically formed a bottom only after the 50-week moving average crossed below the 100-week moving average, a pattern known as a bear cross. Currently, the 50-week average remains well above the 100-week, indicating that a confirmed long-term bottom has yet to form.

While moving average crossovers are lagging indicators that confirm past price action rather than predict future moves, they have historically aligned with major Bitcoin bear market lows. However, as with any technical indicator, past performance does not guarantee future results, and investors should remain cautious amid ongoing market volatility.