Bitcoin (BTC) is experiencing a significant downturn this week as trade tariffs impact BTC price action. The completion of a new “death cross” on the BTC/USD daily chart has led to comparisons to historic events like “Black Monday” in 1987 and the COVID-19 crash. With sentiment at an all-time low, Bitcoin risks falling below its old all-time highs from March 2024. Market participants are closely watching key support levels like $69,000. The fear of a market crash, similar to “Black Monday,” looms large as trade tariffs continue to affect global stock markets. The upcoming Consumer Price Index (CPI) data release on April 10 and 11 could add to the volatility. Market expectations of an emergency rate cut by the Federal Reserve are increasing, with interest rate forecasts pointing to a potential cut at the May meeting. Short-term holders of Bitcoin are showing signs of panic selling, with the market sentiment at extreme levels. Despite the bearish outlook, some are suggesting now might be an opportunity to “buy the dip.” Analysts warn of significant risk to Bitcoin’s bull market but note its historical strength in rallying off the bottom. The market remains volatile, and investors should conduct their own research before making any decisions.