Bitcoin is facing a prolonged period of low prices and extreme market fear, with its Fear and Greed Index hitting a new low of 8. Geopolitical tensions and macroeconomic developments, including new U.S. tariff announcements, have triggered significant liquidations and pushed the price toward the $60,000 support level, casting doubt on its near-term trajectory.
Bitcoin is currently encountering one of its longest low-price streaks to date. The Bitcoin fear and greed index has now hit a new low of 8, indicating extreme fear in the market.
The cryptocurrency is also combating geopolitical uncertainties and macro developments restricting its flight to $80,000 and above. At press time, BTC was trading around $63,000, hinting at a further downfall as new tariff announcements take hold.
A market observer noted the immediate impact, “BREAKING: Bitcoin drops below $65,000 after Trump announces tariff hike from 10% to 15%.” The post detailed that nearly $462 million was liquidated, with 93% of impacted traders holding long positions.
With the risk sentiment off, investors have lately been centering their energy towards gold, which has reclaimed its $5,200 mark. Major financial expert Rashad Hajiyev had earlier predicted a deeper correction.
“I expect Bitcoin to pause and consolidate next around $50k and eventually find a bottom around $30k towards the 4th quarter of 2026…” Hajiyev stated in a recent analysis. Despite the pressure, Bitcoin’s fundamentals are still considered strong.
A report highlighted that Bitcoin faces competitive pressure from gold as a hedge, stablecoins for payments, and prediction markets. However, Scott Bessent, Treasury secretary, suggested BTC may hit new highs once a clarity bill is passed.
According to data from CoinCodex, Bitcoin may jump to hit a new high price mark of approximately $79,600 by the end of 2026. The portal later states the asset could reach roughly $166,400 by 2030.
