{"id":307218,"date":"2026-02-24T05:55:09","date_gmt":"2026-02-24T05:55:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/307218\/"},"modified":"2026-02-24T05:55:09","modified_gmt":"2026-02-24T05:55:09","slug":"bitcoin-btc-dips-under-63000-and-history-says-more-pain-ahead-before-bottom-forms","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/307218\/","title":{"rendered":"Bitcoin (BTC) dips under $63,000 and history says more pain ahead before bottom forms"},"content":{"rendered":"

Bitcoin BTC$63,060.44<\/a> dipped below $63,000 during Asian trading hours, extending overnight weakness amid President Donald Trump’s tariffs and AI jitters that have soured investor sentiment.<\/p>\n

The leading cryptocurrency by market value is already down nearly 7% for the week, trading at levels last seen on Feb. 6 when prices nearly dropped to $60,000, CoinDesk data shows<\/a>. <\/p>\n

“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,” Matt Howells-Barby, vice president at Kraken, Pro Trader, and host of Trading Spaces, told CoinDesk in an email.<\/p>\n

He added that the $60,000 level is a key support that bulls are watching closely. “If that level fails to hold, we could potentially see a move into the mid-to-low $50K range,” he noted. <\/p>\n

The U.S. stocks fell Monday<\/a> after Trump said he would place temporary 15% tariffs on imports from other countries, up from the 10% rate announced Friday following the Supreme Court’s decision to struck down his tariffs strategy. Meanwhile, investors continued to sell shares in companies that stand to lose the AI revolution. <\/p>\n

History favors a deeper sell-off in BTC<\/p>\n

History shows BTC rarely bottoms until the 50-week average price crosses below the 100-week average price. This so-called bear cross has marked the end of every major bear market, including those in 2022 and 2018.<\/p>\n

We’re nowhere near that signal today, as the 50-week average price remains well above the 100-week. <\/p>\n

So, if past data is a guide, the market could slide further, potentially to $50,000 or lower, as several experts told CoinDesk at Consensus Hong Kong before the averages cross bearish and capitulation sets in.<\/p>\n

\"Bitcoin's<\/p>\n

Bitcoin’s weekly chart in candlestick format with key averages. (TradingView) <\/p>\n

The pattern may seem counterintuitive: The 50-week average dropping below the 100-week signal further weakens momentum. <\/p>\n

But it fits the moving averages’ lagging nature perfectly: crossovers confirm what’s already happened \u2013 not predict what’s next \u2013 so long-term ones have tended to market bear market bottoms in bitcoin. <\/p>\n

That said, as with any indicator, the past record offers no assurance of future results. <\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin BTC$63,060.44 dipped below $63,000 during Asian trading hours, extending overnight weakness amid President Donald Trump’s tariffs and…\n","protected":false},"author":2,"featured_media":307219,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[13278,42,43,40,38,41,39],"class_list":{"0":"post-307218","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-bitcoin-news","9":"tag-headlines","10":"tag-news","11":"tag-top-news","12":"tag-top-stories","13":"tag-topnews","14":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/307218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=307218"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/307218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/307219"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=307218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=307218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=307218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}