It was quite the week for the cryptocurrency markets, dominated to a very large extent by the bears. Here\u2019s the breakdown.<\/p>\n
The previous weekend was quite sluggish, although BTC had already declined<\/a> to $74,000 from the May top of almost $83,000. However, the worst was yet to take place. As the new business week and month began on Monday, bitcoin experienced a quick and painful decline. It first dumped toward $70,000, and even though that psychological level held the first breakdown attempt, it eventually gave in, and the landscape quickly worsened.<\/p>\n The cryptocurrency kept losing key support levels one after the other, and each bounce-off attempt was halted in its tracks. The bears appear to be in full control, even today on Friday. Earlier today, BTC dipped below $62,000 again and slipped to $61,000. It rebounded to $63,000 within minutes, which only increased<\/a> the liquidations across the board, only to be rejected again.<\/p>\n The latest leg down transpired minutes ago when the asset slumped below $61,000 to chart a fresh four-month low. Thus, the cryptocurrency has lost well over $20,000<\/a> since its mid-May top as it now struggles to remain above the coveted $60,000 support.<\/p>\n The weekly decline is quite obvious and striking. BTC has plummeted by 15% since this time last Friday, and by a whopping 26% monthly. Its market cap has shed over $400 billion in weeks and is down to $1.2 trillion on CG. Even its dominance over the alts took a hit<\/a>, even though many have charted similar or even worse declines.<\/p>\n Some of the notable examples include ADA, which is down by over 30% following Charles Hoskinson\u2019s decision to take a break<\/a>, and Zcash\u2019s 41% drop after some technical vulnerabilities were uncovered<\/a> earlier.<\/p>\n Market Cap: $2.18T | 24H Vol: $138B | BTC Dominance: 55.7%<\/p>\n BTC: $60,650 (-15.5%) | ETH: $1,600 (-17%) | XRP: $1.11 (-14%)<\/p>\n <\/a>Cryptocurrency Market Overview Weekly June 5. Source: QuantifyCrypto<\/p>\n Strategy Sold Bitcoin, But It\u2019s Not What You May Think<\/strong>. Bitcoin\u2019s big troubles began shortly after Strategy announced<\/a> its first sale in years. Although it disposed of a very tiny portion of its BTC holdings, it still triggered a community reaction and perhaps led to a significant worsening in the overall market sentiment.<\/p>\n Peter Schiff Warns Bitcoin Could Plunge Below $20K as Complacency Sets In<\/strong>. In an entirely expected comment on X, Peter Schiff took advantage of BTC\u2019s price crash and predicted<\/a> an even bigger calamity to $20,000 if the $50,000 support is lost.<\/p>\n Strive Doubles Down on Bitcoin With $185M Buy, Holdings Near 19,000 BTC<\/strong>. Unlike Strategy, Strive made its first purchase in a long time, expanding<\/a> its holdings to almost 19,000 BTC after a substantial $185 million accumulation of the asset.<\/p>\n Arthur Hayes Dumps Entire Zcash (ZEC) Position After Major Flaw Emerges<\/strong>. Shortly after the news of Zcash\u2019s issues went viral on X, Arthur Hayes, who had been supporting the project for a while, said he had disposed of<\/a> his entire ZEC position, citing a lot of uncertainty.<\/p>\n Cardano (ADA) Faces Make-or-Break Moment as Social Buzz and Network Activity Explode<\/strong>. Hoskinson\u2019s break, combined with ADA\u2019s massive price calamity, led to a significant increase<\/a> for Cardano, with the social media activity going wild.<\/p>\n Ethereum Crashing to 14-Month Low Is a \u2018Screaming Buy-The-Dip Opportunity\u2019 \u2013 Analyst<\/strong>. ETH was not spared by the overall market crash, dumping to consecutive 14-month lows at under $1,800 and then to $1,600. Some analysts, though, believe this could be a proper buy-the-dip opportunity.<\/p>\n This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid \u2013\u00a0click here for the complete price analysis<\/a>.<\/p>\n The post Bitcoin Crumbles Toward $60K, Strategy Sold BTC, Zcash Faces Critical Vulnerability: Weekly Crypto Recap<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" It was quite the week for the cryptocurrency markets, dominated to a very large extent by the bears. Here\u2019s the breakdown. The previous weekend was quite sluggish, although BTC had already declined to $74,000 from the May top of almost $83,000. However, the worst was yet to take place. As the new business week and […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-175469","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175469"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175469"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175469\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Market Data<\/h2>\n
This Week\u2019s Crypto Headlines You Can\u2019t Miss<\/h2>\n
Charts<\/h2>\n
![<\/a>Cryptocurrency Market Overview Weekly June 5. Source: QuantifyCrypto<\/p>\nThis Week\u2019s Crypto Headlines You Can\u2019t Miss<\/h2>\nStrategy Sold Bitcoin, But It\u2019s Not What You May Think<\/strong>. Bitcoin\u2019s big troubles began shortly after Strategy announced<\/a> its first sale in years. Although it disposed of a very tiny portion of its BTC holdings, it still triggered a community reaction and perhaps led to a significant worsening in the overall market sentiment.<\/p>\nPeter Schiff Warns Bitcoin Could Plunge Below $20K as Complacency Sets In<\/strong>. In an entirely expected comment on X, Peter Schiff took advantage of BTC\u2019s price crash and predicted<\/a> an even bigger calamity to $20,000 if the $50,000 support is lost.<\/p>\nStrive Doubles Down on Bitcoin With $185M Buy, Holdings Near 19,000 BTC<\/strong>. Unlike Strategy, Strive made its first purchase in a long time, expanding<\/a> its holdings to almost 19,000 BTC after a substantial $185 million accumulation of the asset.<\/p>\nArthur Hayes Dumps Entire Zcash (ZEC) Position After Major Flaw Emerges<\/strong>. Shortly after the news of Zcash\u2019s issues went viral on X, Arthur Hayes, who had been supporting the project for a while, said he had disposed of<\/a> his entire ZEC position, citing a lot of uncertainty.<\/p>\nCardano (ADA) Faces Make-or-Break Moment as Social Buzz and Network Activity Explode<\/strong>. Hoskinson\u2019s break, combined with ADA\u2019s massive price calamity, led to a significant increase<\/a> for Cardano, with the social media activity going wild.<\/p>\nEthereum Crashing to 14-Month Low Is a \u2018Screaming Buy-The-Dip Opportunity\u2019 \u2013 Analyst<\/strong>. ETH was not spared by the overall market crash, dumping to consecutive 14-month lows at under $1,800 and then to $1,600. Some analysts, though, believe this could be a proper buy-the-dip opportunity.<\/p>\nCharts<\/h2>\nThis week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid \u2013\u00a0click here for the complete price analysis<\/a>.<\/p>\nThe post Bitcoin Crumbles Toward $60K, Strategy Sold BTC, Zcash Faces Critical Vulnerability: Weekly Crypto Recap<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It was quite the week for the cryptocurrency markets, dominated to a very large extent by the bears. Here\u2019s the breakdown. The previous weekend was quite sluggish, although BTC had already declined to $74,000 from the May top of almost $83,000. However, the worst was yet to take place. As the new business week and […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-175469","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175469"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175469"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175469\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-05-162322-scaled.png\"){kind=link}