Bitcoin Drops Below $63,000: Trump's Tariff Decisions Shake Crypto Market

Global Uncertainty Weighs on Bitcoin Bitcoin has continued its decline, falling below the $63,000 level amid concerns sparked by U.S.
President Donald Trump's statements regarding customs tariffs.
The leading cryptocurrency by market capitalization has lost approximately 7% on a weekly basis, returning to price levels seen in early February.
Critical Support Levels and Market Expectations Analysts are closely monitoring the critical support level of $60,000.
Matt Howells-Barby, Vice President at Kraken, warned that if this level cannot be maintained, prices could retreat to the mid-to-low $50,000 range.
Howells-Barby noted that Bitcoin is experiencing a pullback parallel to equity markets due to tariff-related uncertainties, adding that increasing geopolitical tensions could continue to have a negative impact in the short term.
Macroeconomic Impacts and Technical Indicators Market volatility accelerated following President Trump's decision to increase temporary tariffs on imported goods from 10% to 15%.
This move created selling pressure in U.S.
stock markets, prompting investors to move away from risky assets.
According to technical analysis, the fact that the 50-week moving average remains above the 100-week average suggests that the market may not have reached a true bottom yet.
Some experts predict that the price could dip as low as $50,000 for the current market cycle to complete.