BTC fell about 5% in a few days, with tariffs and geopolitics leading to downside risk.
Matt Howells-Barby, vice president of cryptocurrency exchange Kraken, has identified critical price levels for Bitcoin as the digital asset undergoes a correction, according to executive statements.
Howells-Barby said Bitcoin is experiencing a strong correction similar to stock market movements, with uncertainty surrounding tariffs cited as one of the main factors behind the decline. The executive made comparisons to macroeconomic pressures seen in April of the previous year, noting that geopolitical tensions could present additional downside risks in the near term.
The Kraken executive highlighted a critical support level as a technically meaningful threshold. According to Howells-Barby, a break below this support could send Bitcoin prices lower to the lower to mid range.
Howells-Barby referenced historical data indicating that Bitcoin generally does not establish a clear bottom until the 50-week moving average falls below the 100-week moving average, a technical pattern known as the “death cross.” The lack of such a crossover suggests the possibility of further declines extending below the lower range, according to the analysis.
Market analysts indicate that volatility could remain high in the current environment, and investors are advised to focus on risk management strategies.