Bitcoin Dips Below $63,000 as Historical Trends Hint at Further Decline Before Bottoming
By Omkar Godbole | Edited by Sam Reynolds | February 24, 2026
Bitcoin (BTC), the world’s leading cryptocurrency by market capitalization, slipped below the $63,000 mark during Asian trading hours, extending a recent period of weakness fueled by renewed concerns over U.S. tariff policies and investor unease surrounding artificial intelligence developments.
Market Decline Amid Renewed Tariff Fears and AI Uncertainty
BTC’s drop continues a downtrend that began overnight, as President Donald Trump’s recent announcement to impose temporary 15% tariffs on imports intensified fears of escalating trade tensions. This move represented an increase from the 10% tariff rate announced last Friday, following a U.S. Supreme Court decision that struck down his previous tariff strategy.
The tariff news, combined with mounting geopolitical tensions and cautious investor sentiment towards AI-related companies, has led to a sell-off in both cryptocurrency and stock markets. U.S. equities also saw declines Monday, adding to the bearish environment surrounding risk assets.
According to CoinDesk data, Bitcoin is down nearly 7% for the week, trading at levels not seen since early February when BTC nearly touched $60,000. Matt Howells-Barby, Vice President at Kraken and host of Trading Spaces, explained via email to CoinDesk:
“Similar to equities, Bitcoin has had a sharp pullback today, driven largely by renewed tariff-related uncertainty, similar to the events of April 2025. Furthermore, ratcheting geopolitical tensions could likely prove bearish for BTC in the short-term.”
He noted that the $60,000 level has become a critical support for the market:
“If that level fails to hold, we could potentially see a move into the mid-to-low $50,000 range.”
Historical Patterns Point to More Pain Before Relief
Analyzing Bitcoin’s historical price behavior provides insight into potential future movements. Past major bear markets for BTC, including the crashes in 2018 and 2022, only found their lasting bottoms after the 50-week moving average crossed below the 100-week moving average — a technical event known as the “bear cross.”
Currently, the 50-week average remains well above the 100-week average, suggesting that Bitcoin is not near this historical bearish signal yet. Experts at the recent Consensus conference in Hong Kong indicated this could mean more downside lies ahead before BTC reaches a solid bottom.
This crossover phenomenon, while seeming counterintuitive at first, aligns with the lagging nature of moving averages. The “bear cross” tends to confirm a market bottom after momentum has already fizzled rather than predicting upcoming moves.
Still, analysts caution that while history offers a helpful perspective, it does not guarantee future results.
What’s Next for Bitcoin?
With Bitcoin’s price hovering just above critical support levels, market watchers will be closely monitoring whether BTC can maintain the $60,000 floor. Breaching this support could open the door for a more substantial correction into the mid-to-low $50,000 range or potentially lower, according to technical analysis and historical precedent.
Meanwhile, volatility is expected to persist as macroeconomic factors such as trade policies, geopolitical developments, and rapid technological changes continue to influence investor confidence across markets.
Broader Crypto Market Context
Bitcoin’s decline comes amid broader risk-off sentiment impacting cryptocurrencies. Ethereum (ETH), Solana (SOL), and XRP have also extended losses, partly due to the ongoing “AI scare” trade, with investors reassessing exposure to firms likely affected by AI-driven disruptions.
Investors are also watching shifts in bitcoin price discovery, which is increasingly moving towards regulated futures markets such as those in Chicago, pointing to evolving dynamics within the global crypto ecosystem.
Bitcoin (BTC) Price Overview:
- Current Price: ~$63,084
- Weekly Change: -7%
- Key Support Levels: $60,000; potential drop to mid-to-low $50,000 range
As the cryptocurrency market navigates these uncertainties, traders and investors are advised to monitor both technical indicators and macroeconomic developments closely.
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