Bitcoin has dropped, and it is not alone. The broader crypto market has dipped alongside broader risk assets. Increased U.S. tariff uncertainty has pressured investor sentiment, pushing cryptocurrencies lower with equities. Also, JPMorgan’s CEO said artificial intelligence is a disruptive force. Analysts say Bitcoin now trades in line with overall market mood rather than internal fundamentals, intensifying downside risks.
CryptoQuant Flags Premium Weakness as Bitcoin Breaks Support
As per CryptoQuant data, Bitcoin’s recent slide aligns with weakness in the Coinbase Premium Index. The firm reported that the 30-minute simple moving average briefly crossed above zero. However, it failed to hold that level into the new week.
That rejection above zero, CryptoQuant noted, emerged as a potential trigger for the latest downward move. The firm added that the lack of sustained recovery reflected fading buying pressure. As a result, momentum shifted as sellers regained control.
As Coingape reported, Glassnode and 10x Research warned that the Bitcoin price might fall further. Meanwhile, analyst Ted pointed to a structural breakdown. He said Bitcoin lost the $65,000 support zone, exposing lower liquidity pockets. Strong bids are between $60,000 and $63,000, yet he warned that the stock market now guides direction.
Ted added that the BTC taker buy/sell ratio has fallen below one. Sellers therefore dominate current flows. He also noted that a monthly RSI drop below 38 historically aligns with cycle bottoms.
JPMorgan CEO Warns of 2008-Style Lending Risks
While Bitcoin and the crypto market weaken, Jamie Dimon raised separate concerns about financial markets, as per Bloomberg data. The JPMorgan Chase CEO said that he sees parallels to conditions before 2008. He recalled a similar outlook in 2005 through 2007, when profits rose fast.
Dimon said competitors now take excessive lending risks to generate net interest income. He described some of those actions as “dumb things” designed to boost short-term returns. However, he stressed that JPMorgan will not follow that path.
He explained that although the credit cycle remains firm, cracks will eventually appear. Timing, he noted, remains uncertain. Additionally, Dimon flagged artificial intelligence as a disruptive force, especially across software segments.
Bitcoin Volatility Deepens as TD Cowen Lays Out $450K Scenario
At press time, BTC price was at $64,438, down by 0.30% in 24 hours and 5.33% weekly. Price peaked near $68,500 before a sharp Feb. 23 selloff drove it toward $64,400. A brief rebound reached $66,500, yet lower highs followed.
Source: TradingView
On Feb. 24, Bitcoin dropped again toward the $62,800 to $63,000 zone. Immediate resistance is between $64,500 and $65,000, while key support is near $62,500. The short-term structure now shows a clear downtrend.
Despite current pressure, TD Cowen outlined a higher long-term Bitcoin valuation path. The firm said a 100-fold rise in tokenized assets, alongside a 90% drop in velocity, could lift Bitcoin fivefold. That scenario implies roughly $450,000 per coin over time.
TD Cowen also forecasts Bitcoin near $225,000 by the end of fiscal 2027. The firm cautioned that its model relies on assumptions, including expanded real-world asset tokenization.