Bitcoin Price Prediction – BTC Slides Toward $66,103 as $60K Crash Threat Grows

Highlights:

• Bitcoin is in a narrow consolidation between $70,576 and $66,103
• Bears are gaining ground and making attempts at the $66,103 support
• A crash through the $66,103 support could see BTC drop below $60k 

Bitcoin (BTC) is in the red today, reflecting the correction across financial markets. At the time of going to press, Bitcoin was trading at $65.340.61, down by 4.09%. However, trading volumes have shot up intraday. They are currently up by 85.37% to stand at $32.86 billion. 

The surge in trading volume during a heavy price correction points to panic. It means the average investor is looking to sell their holdings, which is driving the rise in trading volumes. Multiple factors could push Bitcoin lower in the short term.

Trump’s New Tariff Threat Could Send Bitcoin Price Lower

One of them is the new tariff threat from the US president. Last week, the US Supreme Court announced that Trump’s tariffs are illegal. However, instead of backing down, the US President announced he would raise global tariffs from an average of 10% to 15%. This has rattled global markets because other countries could retaliate and put the world back on a path to economic uncertainty. This is also raising inflation fears in the US, a factor that could see investors hold off on risk-on assets. For high-beta assets such as cryptocurrencies, the selloff could be pretty strong in the short- to medium-term.

Negative Market Sentiment Could Add to Further Bitcoin Correction

The tariff issue is also coming back at a time when Bitcoin is already in a bear market. Bitcoin has been pushing lower since 2025, and a selloff has followed every attempt at a rebound.  Sentiment has been in extreme fear for a while now, indicating that few investors expect the price to make any significant upside moves in the short to medium term.

Now that the macro environment is getting worse due to the tariff issue, it could embolden Bitcoin bears going forward. Under current dynamics, a slide through $60k seems plausible, and short sellers could send the price as low as $50k in the short term. 

Longs Liquidation Adding to Bitcoin Price Pressure

The Bitcoin selloff is also made worse by the fact that longs are getting heavily liquidated. Recently, as the market began showing signs of bottoming out, leveraged longs also began increasing. However, the introduction of tariff-driven uncertainty has led these longs to start being liquidated. In the last 24 hours, more than $460 million in cryptocurrency longs have been liquidated. These liquidations are putting significant pressure on Bitcoin’s price, alongside growing confidence among short sellers.

Delays In the Clarity Act Adding to Bitcoin Weakness

Bitcoin is also being pushed lower by the fact that a major law regarding cryptocurrencies is hanging in limbo. Progress on the Clarity Act has stalled since January, as banks and the cryptocurrency industry failed to reach an agreement on stablecoin yields. While there is hope the law could pass in April, there are no guarantees.

President Trump has given the concerned parties until March 1 to reach an agreement. Until there is consensus, Bitcoin could continue cascading lower, mainly because macro factors are adding to the market weakness.

Technical Analysis – Bitcoin Likely Headed for A Breakout

Bitcoin is currently trading in a narrow range between the $70,576 resistance and $66,103 support. This increasingly narrow consolidation is an indicator that a breakout is imminent. If bears take control due to macro issues and send Bitcoin through the $66,103 support, a correction to prices below $60k could follow.

On the other hand, if bulls take control and push Bitcoin price through the $70.576 resistance, a rally to $96,775 could follow. Of these two scenarios, a drop below $60k seems more likely. That’s because the macro environment, especially the renewed tariff threat, could embolden bears in the short term.