• Trump’s crypto summit announcement triggered the Bitcoin (BTC) price to climb above $86K.
• Still, BTC is facing multiple rejections at $85K, trading at $84,809.
• Technical indicators and analysts warn of a further decline for Bitcoin. 

Bitcoin (BTC) is experiencing a tough time, dipping below $80K and recording an intraday low of $78,248.92. This significant drop was caused by a mix of political decisions, inflation, and an increase in tariff concerns.

U.S. President Donald Trump’s recent announcements on the implementation of a 25% tariff on Mexico and an additional 10% tariff on Chinese goods have reduced investor confidence, resulting in massive selloffs and outflows from the cryptocurrency market. It’s not only Bitcoin alone, as this environment isn’t profitable for major cryptocurrencies as well.

Bitcoin Price is now down 18% since Trump’s inauguration and 24% from its all-time high of $108,000. Additionally, Ethereum (ETH), the second largest crypto also suffered a 6% decline on Friday and XRP lost nearly 2% as well, trading at $2.10.

However, the crypto market is trying to recover after Donald Trump announced the White House’s first crypto summit, set for next Friday, highlighting his growing support for the industry.

At the time of writing, BTC is priced at $84,947 in the Asian trading hours, reflecting a 6% rally in the past 24 hours. Despite the price surge, Bitcoin’s daily trading volume, which was high due to selloffs the previous day, has now declined by around 10% to $63.36 billion.

Also, experts warn that Bitcoin could hit further decline. Steve Sosnick, chief strategist at Interactive Brokers, in an exclusive interview points to Bitcoin’s 200-day Simple Moving Average of $96,536 as a key indicator. If Bitcoin fails to maintain its current market, which is currently at $85,000, Sosnick believes the next support levels could be in the “high $60,000’s/low $70,000’s range.

“The last I looked, the CME Fedwatch tool was pricing in two rate cuts this year. I think if those got fully priced out [because of concerns around tariffs], there’d be more downside in the traditional markets than in crypto.” Sosnick added.

Technical Indicators Points to Bearish Trend for Bitcoin

In the BTC/USDT daily chart, Bitcoin’s technical indicators confirm a bearish market phase. The MACD signal line is below the MACD line, suggesting downward momentum.

Data from CryptoWaves confirms that Bitcoin’s RSI currently stands at 46.48, which indicates weak buying pressure. If this trend persists, Bitcoin could struggle to break past resistance levels in the near term.

If this trend persists, Bitcoin could struggle to break past the next resistance at $87,500. A failure to gain momentum above this level may lead to further downside, with the next key support at $82,000.

If Bitcoin holds above $82,000, it could stabilize and attempt another breakout. However, a breakdown below this level might trigger further losses, potentially testing the $78,500 support zone.

Meanwhile, security concerns are also on the rise. Jameson Lopp, co-founder and chief security officer of CASA, reports a surge in physical attacks against Bitcoin holders. His archive documents over 200 such incidents since 2014, with 11 occurring in 2025 alone.

“There’s a rough correlation between the number of wrench attacks and the price of Bitcoin,” Lopp explains. “As adoption increases, mainstream awareness increases, and as such, the number of criminally minded people who are aware of it increases,” Lopp added.

However, in a bid to discuss cryptocurrency futures and adoption, The White House is set to host its first-ever crypto summit on March 7 as the crypto community anticipates pro-crypto policies.

Experts point to factors like the potential for a U.S. sovereign wealth fund including Bitcoin or the passage of clear market structure legislation as possible catalysts for future growth.

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