Bitcoin (BTC) Price Could Drop Below $60,000 If It Fails To Hold This Level

Crypto analyst Titan of Crypto has provided a bearish outlook for the Bitcoin price, predicting it could drop below $60,000. This comes amid Donald Trump's announcement of reciprocal tariffs, which could trigger this price crash.

Crypto analyst Titan of Crypto has provided a bearish outlook for the Bitcoin (BTC) price, predicting it could drop below $60,000. This comes amid Donald Trump’s announcement of reciprocal tariffs, which could trigger this price crash.

Crypto analyst warns of deeper Bitcoin correction if it fails to hold key levels.

In an X post, Titan of Crypto warned that the Bitcoin price could drop below $60,000 if it fails to hold above $81,872. He stated that BTC must remain above the 50-week Exponential Moving Average (EMA) and keep the weekly Relative Strength Index (RSI) above key support.

“If we lose the 50-week EMA, which is around $70,000 now, and the weekly RSI drops below 38.2 Fib, then we could see a deeper correction towards the $58,500 zone,” the analyst said.

His accompanying chart showed that a drop below $60,000 could occur as part of this correction.

This bearish outlook for Bitcoin comes after U.S. President Donald Trump announced reciprocal tariffs on all countries. This move could spark this downtrend for BTC, especially as a global trade war heats up. The flagship crypto has already dropped from as high as $88,000 following this announcement and could soon lose the $80,000 range.

In the long term, Titan of Crypto believes the Bitcoin price could still rebound. He highlighted a Falling Wedge pattern, which was forming for the flagship crypto.

The analyst stated that over the next couple of months, the Consumer Price Index (CPI) and Core Personal Consumption Expenditures Price Index (PCE) will likely improve as TrueFlation data shows inflation cooling off significantly. He then raised the possibility of this setting the stage for a “strong” Bitcoin bounce by May.

Macro fundamentals continue to heavily impact Bitcoin’s price and the broader crypto market. A CoinGape market analysis highlighted the Nonfarm Payrolls (NFP) report and Fed Chair Jerome Powell’s speech as two key macroeconomic events to watch this week.

Despite this bearish outlook, other analysts are still providing bullish predictions for BTC.