Bitcoin (BTC) dips under $63,000 and history says more pain ahead before bottom forms

CoinDesk

by Omkar Godbole

February 24, 2026

AI-Generated Deep Dive Summary

Bitcoin's price dropped below $63,000 during Asian trading hours, extending its recent decline amid renewed concerns over U.S. President Donald Trump's tariffs and growing investor anxiety about artificial intelligence (AI). This move has added to Bitcoin's already significant weekly loss of nearly 7%, bringing it back to levels last seen in early February when prices hovered around $60,000. Matt Howells-Barby, vice president at Kraken and a seasoned trader, noted that the cryptocurrency is experiencing a sharp pullback driven by tariff-related uncertainty, similar to events in April 2025. He emphasized that geopolitical tensions could further weigh on Bitcoin in the short term, with the $60,000 mark acting as a critical support level for bulls. Historical patterns suggest that Bitcoin may face even deeper losses before reaching a bottom. According to experts, the cryptocurrency rarely stabilizes until its 50-week average price falls below the 100-week average—a phenomenon known as a bear cross. This indicator has historically marked major market lows, including those in 2022 and 2018. Currently, however, the 50-week average remains well above the 100-week average, signaling that more pain could lie ahead for Bitcoin investors. Some experts predict that prices could drop to $50,000 or lower if this bearish crossover occurs. The current market dynamics highlight the importance of

Verticals

cryptofinance

Originally published on CoinDesk on 2/24/2026