Bitcoin is facing a critical moment as prices fall sharply. A senior executive from Kraken has warned that Bitcoin could drop below $60,000 if the current trend continues.
Matt Howells-Barby, Vice President at Kraken, said Bitcoin is going through a strong correction. He compared the drop to recent declines in stock markets. He said global tariff tensions and geopolitical uncertainty are adding pressure on crypto prices.
Bitcoin has already fallen about 5% in just a few days. Analysts say the $60,000 level is now a key support zone. If Bitcoin falls below this level, it could slide further into the mid-to-low $50,000 range.
Technical indicators also show warning signs. Analysts are watching for a pattern called a “death cross.” This happens when the 50-week moving average falls below the 100-week moving average. Historically, Bitcoin has not reached its bottom until this pattern appears.
Tariff concerns have played a major role in recent market volatility. Investors are reacting to uncertainty around global trade policies and economic stability. This has caused both crypto and traditional markets to weaken.
Experts say volatility could continue in the short term. Bitcoin’s next move will depend on global economic conditions and investor confidence. Traders are now watching closely to see if Bitcoin can hold above the important $60,000 level.
If Bitcoin fails to hold support, analysts warn that deeper losses could follow. For now, the market remains uncertain as investors wait for clearer signals.
