Bitcoin eyes $60k as Kraken VP warns of deeper tariff-led slide

BTC fell about 5% in days as tariffs and geopolitics drove downside risk.

Matt Howells-Barby, Vice President of cryptocurrency exchange Kraken, identified critical price levels for Bitcoin as the digital asset undergoes a correction, according to statements from the executive.

Howells-Barby stated that Bitcoin is experiencing a sharp correction similar to movements in equity markets, with uncertainty surrounding tariffs cited as one of the primary factors driving the decline. The executive drew comparisons to macroeconomic pressure observed in April of the previous year, noting that geopolitical tensions could present additional downside risks in the short term.

The Kraken executive pointed to a critical support level as a technically significant threshold. According to Howells-Barby, a break below this support could push Bitcoin prices down to the lower-to-mid range.

Howells-Barby referenced historical data indicating that Bitcoin typically does not establish a clear bottom until the 50-week moving average falls below the 100-week moving average, a technical pattern known as a “death cross.” The absence of such a cross suggests the possibility of further declines extending below the lower range, according to the analysis.

Market analysts indicate that volatility may remain elevated in the current environment, with investors advised to focus on risk management strategies.