Bitcoin (BTC)price is falling for the fourth straight session, and the chart is sendingincreasingly bearish signals. BTC tumbled below $63,000 on Tuesday, February24, extending a decline that has now lasted four sessions without relief. Theintraday low reached $62,964, the weakest print in nearly three weeks. Accordingto my technical analysis and over a decade of experience as an analyst andtrader, Bitcoin is consolidating at its lowest levels since Q4 2024, and thestructure of that consolidation looks fragile. In this article, I examine whyBitcoin is going down, analyze the BTC chart in detail, and present the newestBitcoin price predictions and key technical levels to watch.Followme on X for more Bitcoin and crypto market analysis: @ChmielDkBitcoin Price Today: BackBelow $63,000Monday's4%+ drop - the steepest single-day decline since February 5 - set the tone, andTuesday's follow-through has done nothing to reassure bulls.The broaderdamage is stark. From its all-time high of over $125,000 per token setin October 2025, Bitcoin has now shed approximately 50% of its value.VanEck's research desk noted that Bitcoin is currently trading -2.88standard deviations below its 200-day moving average - a level thathas never been observed in the past ten years of data, including during COVIDand the FTX collapse.Bitcoin TechnicalAnalysis: What the BTC Chart ShowsAccordingto my technical analysis, Bitcoin is increasingly and visibly consolidating atthe lowest levels since Q4 2024. As shown on my chart, this consolidation has awell-defined structure:Consolidation floor: $60,000-$62,000 - where psychological support and recent lows convergeConsolidation ceiling: $72,000-$74,000 - the upper cap that has capped every recovery attemptCritical breakdown target: $53,000, and potentially as low as $49,000 - the H2 2024 lowsA weeklyclose below the $60,000-$62,000 band would, in my view, confirm a breakdownfrom this consolidation. From there, the next meaningful demand zone does notappear untilthe $49,000-$53,000 range, where the second half of 2024set its structural lows. That represents a further 15-22% decline fromcurrent levels.Lookinghigher, the bulls need to reclaim $72,000-$74,000 on asustained basis to even begin talking about recovery. Until that happens, everybounce is a selling opportunity in a bear-trending structure.Oneimportant context point: despite the depth of this drawdown, VanEck's analysisshows that 90-day realized volatility currently sits near 38 -roughly half the levels seen during the 2022 bear market, when Bitcoin fell 78%peak to trough. This is not yet a panic-driven capitulation. It is, so far, anorderly - if painful - deleveraging.Why Is Bitcoin Going Down?The Macro Trigger StackThere is nosingle cause here. Bitcoin is being hit from multiple directionssimultaneously.Theimmediate trigger is the ongoing Trump tariff chaos. Following theSupreme Court's IEEPA ruling last week, Trump imposed new 15% global tariffsvia executive order, reintroducing trade policy uncertainty just as markets hadbegun to stabilize. Risk-off sentiment spilled directly from equities intocrypto."Cryptomarkets remain under pressure into Tuesday, with Bitcoin extending its pullbacktoward the February low," said Joel Kruger, crypto strategist atLMAX. As he added: "The negative tone reflects a combination ofmacro-driven risk aversion, ongoing deleveraging, and defensive positioning -including elevated sovereign yields, a firm US dollar, and lingeringgeopolitical uncertainty."The secondmajor pressure point is geopolitical. The US-Iran military buildup -described by multiple sources as the largest since the 2003 Iraq War - isdriving a classic flight from risk assets toward traditional safe havens. Goldand oil are rising. Bitcoin is not."Bitcoinhas officially exited its consolidation phase and entered a new bearishcycle," said Samer Hasn, Senior Market Analyst at XS.com."This toxic cocktail of economic, political, and geopolitical shocks isaggressively flushing capital out of the crypto market - leaving significantroom for bears to dominate."Themechanics of the selloff have amplified the fundamental picture:$240 million in forced liquidations of leveraged long positions on Monday aloneContinued ETF outflows, with institutional demand insufficient to absorb sellingWhale selling - on-chain data shows large holders moving significant BTC to exchangesAI stock correlation - as AI and HPC stocks corrected, Bitcoin miners with data center exposure sold BTC to cover balance sheet stress"Thedecline in Bitcoin appears less like a specific shock to the cryptocurrency andmore akin to a typical reset in risk sentiment," said ChristopherHamilton, Head of Client Investment Solutions APAC at Invesco. He describedthe move as "tactical de-risking rather than a long-term withdrawal."How Low Can Bitcoin Go?Key Levels and PredictionsThis is thequestion every trader is asking right now - and the honest answer is that therange of outcomes remains wide.Institutionalforecasters remain divided. On the bearish side, the breakdown of the$60,000-$62,000 zone would technically open the $49,000-$53,000 window. On thecautiously optimistic side, VanEck notes that the combination of a deepdrawdown and materially lower-than-historical volatility "suggests that asignificant portion of downside risk has already been absorbed."The keyvariable is macro resolution. If US-Iran tensions de-escalate or tariffuncertainty clears, the relief trade could be sharp. But as Hasn of XS.comnoted, "buyers are currently surfacing only for short-lived correctivebounces" - not the sustained demand needed to flip the structure.Bitcoin Price, FAQWhy is Bitcoin fallingtoday?Bitcoin isgoing down due to a combination of Trump's 15% global tariff announcement,escalating US-Iran military tensions, $240M+ in forced liquidations ofleveraged long positions, and continued ETF outflows. Risk-off sentiment isdriving capital into traditional safe havens like gold rather than crypto.How low can Bitcoin go in2026?Based on mytechnical analysis, the critical level is the $60,000-$62,000 consolidationfloor. A weekly close below that zone opens a technical target of $53,000 andpotentially $49,000 - the H2 2024 structural lows. The 200 EMAsits near $38,000-$42,000 and represents the deepest bear case support.Is Bitcoin in a bearmarket?Bitcoin isnow down approximately 50% from its October 2025 all-time high above $125,000,which meets the traditional definition of a bear market. VanEck data showsrealized volatility at roughly half 2022 bear market levels, suggesting anorderly deleveraging rather than full capitulation.When will Bitcoin stopfalling?The chartrequires a sustained reclaim of $72,000-$74,000 - the top ofthe current consolidation range - to signal any meaningful trend reversal.Until that happens, the path of least resistance remains lower. Macro clarityon US-Iran tensions and tariff policy would be the most likely catalysts for astabilization.This article was written by Damian Chmiel at www.financemagnates.com.