On February 24, it was reported that due to increasing uncertainty surrounding Trump’s tariff policies and weakening macro risk sentiment, Bitcoin briefly fell below the $63,000 level during Asian trading hours, continuing the recent correction trend. Data shows that BTC has declined nearly 7% this week, with prices retreating to a low not seen since early February, sparking discussions about whether Bitcoin’s price is entering a deep correction phase.
According to CoinDesk, current selling pressure is driven not only by macro policy expectations but also by risk asset revaluation amid turbulence in the artificial intelligence sector. Trader Matt Howells-Barby pointed out that repeated tariff policy uncertainties and geopolitical tensions are weakening short-term risk appetite, causing Bitcoin to weaken in tandem with U.S. stocks.
From a technical perspective, the $60,000 level is seen as a key support. If this level is broken, the market could test the historical demand zone between $50,000 and $55,000. This area also corresponds to a multi-cycle accumulation zone, which is significant for medium- and long-term trends.
Historical cycle data shows that Bitcoin often forms a bottom after the 50-week moving average crosses below the 100-week moving average (a typical bear market crossover). This signal appeared at the end of the bear markets in 2018 and 2022. Currently, the 50-week MA remains significantly above the 100-week MA, indicating that from a cycle perspective, BTC has not yet entered a typical “bottom confirmation” phase.
It is important to note that moving averages are lagging indicators; their crossovers reflect past trends rather than immediate predictions. Therefore, under the macro policy pressure, risk asset volatility, and tightening market liquidity, Bitcoin’s short-term volatility may continue to rise. Investors are closely watching the support levels at $63,000 and $60,000, as well as whether deeper technical correction signals emerge.
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