Bitcoin Drops 8% Amid Tariff Wars, Bearish Trend Persists

Bitcoin price has been significantly impacted by the renewed tariff wars, with the global financial markets experiencing a sharp selloff. The price of Bitcoin recently fell below $75,000 before recovering slightly, leaving traders to speculate on how low the price could go in the coming week. The question on everyone's mind is whether this is the beginning of a deeper crash or if the worst is already over.

The daily chart reveals a deteriorating trend, with Bitcoin well below the 20, 50, 100, and 200 Simple Moving Averages (SMAs). The 20-day SMA is at $84,124, while the price is hovering around $78,200. This disconnect from key moving averages indicates that Bitcoin is in bearish territory and struggling to find sustainable support. The Heikin Ashi candles show multiple long-bodied red candles with minimal upper wicks, suggesting strong and persistent selling. The 200-day SMA, which often acts as the last line of bullish defense, has now flipped into overhead resistance, further weakening Bitcoin's bullish case.

The Accumulation/Distribution Line (ADL) shows a steep drop-off, indicating that money is flowing out of Bitcoin. This is a red flag, as a declining ADL suggests that smart money is de-risking or sitting on the sidelines. Without accumulation, rallies are likely to fade quickly.

The 1-hour chart shows a short-term bounce from the $74,000 zone, which is now acting as temporary support. Bitcoin spiked to $79,000, but this recovery came with a strong Heikin Ashi green candle, raising hopes of a reversal. However, the bounce is facing immediate resistance at the 50 SMA ($80,711) and 100 SMA ($81,936), both sloping downward. This bounce could be a relief rally in a broader downtrend, with lower highs and lower lows remaining intact and the moving averages all aligned in bearish sequence. Unless the price breaks and holds above $82,000, this recovery could be short-lived.

The ADL on the hourly timeframe also remains bearish. Even as the price bounces, the ADL has not moved higher, suggesting that this rally is driven by short covering or retail speculation, not true buying interest.

Support has now shifted lower, with the key zone to watch being $74,000–$75,000, which was recently defended but looks fragile. If that breaks, Bitcoin could rapidly fall toward $69,000, with the next major psychological and technical support at $65,000. Below that, the $60,000 level—a long-term demand zone—becomes a real possibility. On the upside, resistance is stacked heavily, with Bitcoin price needing to reclaim $82,000, followed by $85,000, to flip short-term sentiment bullish. However, unless these levels are taken out with high volume and a rising ADL, bounces are likely to be sold into.

Moving averages across both timeframes show BTC price below all major SMAs, with the downward slope confirming strong selling momentum. Short-term SMAs are compressing, indicating a volatility breakout is near—likely downward if macro fear persists. Heikin Ashi candles on the daily chart are strongly bearish, while hourly candles show short-term recovery. Until daily candles show upper wicks and smaller bodies, sellers remain in control. The ADL is falling across both charts, confirming that large players are exiting positions. Without accumulation, even strong-looking bounces are unreliable.

If the $74,000 level breaks, Bitcoin price could drop to $69,000 within days. Should fear continue to dominate markets, and if altcoin bleed intensifies, we might see $65,000–$60,000 tested before next weekend. If Bitcoin price holds $74,000 and reclaims $82,000, we could see a short-lived bounce to $85,000, but unless the ADL flips and broader markets stabilize, the overall trend remains bearish. April’s first full week could define Q2’s tone—and right now, it looks shaky for bulls.

Bitcoin price is clearly under pressure, and the charts don't lie. With rising global uncertainty from trade wars and collapsing equity markets, Bitcoin's “safe haven” status is being tested. The break below major support and ongoing distribution suggests that more downside is likely unless key levels are reclaimed quickly. So, how low can Bitcoin go? If market panic escalates, $60,000 isn’t just possible—it’s probable. And unless buyer strength returns with real volume, we might not have seen the bottom yet.