Bitcoin (BTC) dips under $63,000 and history says more pain ahead before bottom forms
CoinDesk • • general
Key Points:
- Bitcoin dipped below $63,000 during Asian trading, extending a weekly decline of nearly 7% amid concerns over President Trump's tariffs and investor anxiety about AI developments.
- The cryptocurrency is trading near levels last seen in early February, with key support at $60,000; failure to hold this level could lead to a further drop into the mid-to-low $50,000 range.
- U.S. stock markets fell following Trump's announcement of increased temporary tariffs, contributing to negative sentiment across risk assets including Bitcoin.
- Historical data indicates Bitcoin’s major bear markets end only after the 50-week moving average crosses below the 100-week average, a signal not yet present, suggesting potential for further declines.
- Experts caution that while
