Bitcoin is approaching a critical technical level as broader macro pressures weigh on risk assets.
According to Kraken Vice President Matt Howells-Barby, Bitcoin’s current correction mirrors weakness in equity markets and could deepen if key support levels fail.
With renewed tariff uncertainty and geopolitical tension in focus, BTC has fallen roughly 5% in recent days, bringing attention to the next major support zone near $60,000.
Tariffs and geopolitics driving short-term risk
Howells-Barby noted that Bitcoin’s pullback aligns closely with macro-driven volatility seen in traditional markets.
Fresh tariff headlines and broader geopolitical tensions have increased uncertainty. Similar dynamics were observed during macro stress periods last year, when risk assets including crypto faced sharp corrections.
In the current environment, Bitcoin is behaving less like a hedge and more like a high-beta risk asset sensitive to global policy shifts.
$60K identified as critical support
The Kraken executive flagged $60,000 as a technically important level.
If Bitcoin holds above that threshold, the market may stabilize. But a confirmed breakdown below it could open the door toward the mid-to-low $50,000 range, according to the analysis.
Psychological round numbers often act as magnets during volatile periods, and $60K now represents a line that traders are closely watching.
Death cross not yet confirmed
Howells-Barby also pointed to historical patterns involving long-term moving averages.
In prior major cycles, Bitcoin typically did not establish a durable bottom until the 50-week moving average fell below the 100-week moving average, forming what traders call a “death cross.”
That cross has not yet occurred in the current cycle.
Historically, the absence of this signal has sometimes implied further downside before a sustained recovery takes hold. While not predictive on its own, it adds weight to the cautious outlook.
Volatility likely to remain elevated
Market analysts broadly expect volatility to stay high until:
- Tariff policy direction becomes clearer
- Geopolitical tensions ease
- Liquidity conditions stabilize
For now, traders are focusing on risk management, particularly around major support levels.
What to watch next
Bitcoin’s near-term path will depend heavily on whether buyers defend the $60K zone.
If the level holds, it could become a base for consolidation.
If it breaks decisively, momentum could accelerate toward deeper support levels in the $50K range.
As macro headlines continue to influence sentiment, Bitcoin remains tightly linked to broader market risk appetite.
