Bitcoin losing $63k means crypto winter will not thaw any time soon as tariff shock rattles ETF flows

Bitcoin recently fell to $63,214, breaking below key support levels identified in a two-year channel map, suggesting a continuation of bearish conditions akin to a 'crypto winter.' The price action over 48 hours showed a 7.12% drop, characterized by significant volume spikes during surrender moments, indicating a shift from negotiating within a core channel ($67,900 to $71,500) to testing lower consequence zones.

The immediate technical focus is on the support shelf between $61,726 and $61,099; holding this level suggests range repair, while a break could lead to a faster repricing toward $56,048. This downturn is compounded by macro factors, specifically tariff uncertainty which is increasing risk aversion and acting as a volatility lever, rattling ETF flows. Recent ETF data shows a net negative tilt, and hedging pressure in the options market suggests traders are paying for downside protection.

While strategic corporate buying continues to accumulate on weakness, the short-term price action is dictated by macro risk and the mechanics of ETF plumbing. The market's ability to reclaim levels like $65,000 will determine if it can rebuild support or if it will accept faster, lower pricing.

(Source：CryptoSlate)