Bitcoin plunged below $60,000 for the first time since October 2024, extending losses in what has become its worst week since November 2022.
Sentiment deteriorated further into extreme fear, signaling rising market anxiety heading into the weekend.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $59,668 |
| Ethereum | (CRYPTO: ETH) | $1,551 |
| Solana | (CRYPTO: SOL) | $62.25 |
| XRP | (CRYPTO: XRP) | $1.08 |
| Dogecoin | (CRYPTO: DOGE) | $0.08276 |
| Shiba Inu | (CRYPTO: SHIB) | $0.054585 |
Notable Statistics:
- Coinglass data shows 310,873 traders were liquidated in the past 24 hours for $1.56 billion.
- SoSoValue data shows net inflows of $3.05 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $19.3 million.
- In the past 24 hours, top losers include Zcash, Internet Computer and Polygon.
Notable Developments:
- Bitcoin’s Most Bullish Technical Signal Meets Crypto’s Biggest Regulatory Catalyst
- XRP Plummets 17% In 1 Week Despite New Ripple Expansion: What Is Going On?
- Bitcoin’s 25% Drop To Low $60,000s Is ‘Classic Crypto Winter’ Behavior, Expert Says
- Tom Lee: ‘Ethereum Is Like Amazon Stuck At $6, You’re Bearish At The Bottom’
- Strategy Can’t Buy Much More Bitcoin With MSTR Around $125, Grayscale Exec Argues
- Bitcoin Drops 25% In 1 Month: How Does This Crash Compare To 2022?
Trader Notes:
Economist Peter Schiff noted Bitcoin briefly fell below $60,000, breaking its February 2025 low and hitting its weakest level since October 2024.
The move erased all gains made since the U.S. presidential election, and analysts warn that if Bitcoin loses today’s low near $59,750, it could trigger another wave of panic selling and a potential “Crypto Black Monday” across digital assets.
Trader Michael van de Poppe argues BTC has reached a historically attractive accumulation zone, citing record-low daily RSI readings, extreme bearish sentiment, and BTC trading near its 200-week moving average.
Scott Melker highlighted Bitcoin’s short-term holders are realizing losses at the highest rate on record, with the short-term holder profit/loss ratio falling to an all-time low.
Market sentiment has mirrored the price decline, swinging from euphoria at May’s peak to extreme pessimism on June 3, a pattern that has historically coincided with market bottoms, though not always.
Image: Shutterstock
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