The cryptocurrency dipped to around $59,000 before buyers intervened, although losses this week have been significant across the board. A strong forecast from Micron boosted stocks while oil prices continued to decline, yet cryptocurrencies did not follow suit.
By Shaurya Malwa Jun 25, 2026, 4:29 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- This week, Bitcoin fell below $60,000 amidst ongoing withdrawals from U.S. spot bitcoin ETFs, a more aggressive Federal Reserve stance, and a robust dollar.
- Most major cryptocurrencies declined, with ether, XRP, solana, dogecoin, and HYPE experiencing significant weekly losses, while tron was the only major cryptocurrency to see a gain.
- Analysts caution that Bitcoin's proximity to its 200-week moving average could indicate an impending crypto winter, with upcoming U.S. inflation data likely affecting whether the downturn worsens or stabilizes.
This week saw a significant sell-off in crypto, with Bitcoin dipping below the $60,000 mark even as tech stocks that had previously weighed it down rebounded.
Bitcoin reached a low of approximately $59,200 late Wednesday but was lifted back to around $60,700 by Thursday, reflecting a 2.9% drop in 24 hours and a 5.4% decrease for the week, according to CoinDesk data.
Other major cryptocurrencies faced steeper declines. Ether fell 2.8% to $1,616, resulting in a 7.9% weekly loss; XRP decreased to $1.07, down 9.2% for the week, while solana dropped to $68. Dogecoin and Hyperliquid's HYPE were particularly hard-hit, with losses of 11.9% and 11.7%, respectively. Tron was the sole major cryptocurrency to gain, up 1.9%.
Meanwhile, the AI stocks that previously dragged cryptocurrency down have made a comeback.
Micron, the leading U.S. memory chip manufacturer, surged around 15% after its sales forecast exceeded Wall Street predictions, boosting optimism for AI investments. Nasdaq 100 futures climbed 1.8%, South Korea's Kospi soared by as much as 6%, and Brent crude oil prices fell below $73 per barrel as oil resumed flowing through the Strait of Hormuz.
The pressure on the crypto market appears to be self-perpetuating. The drop below $60,000 highlights ongoing withdrawals from U.S. spot bitcoin ETFs, the Federal Reserve's hawkish position, and a dollar that has reached a seven-month peak, according to Alex Kuptsikevich, chief market analyst at FxPro, in a communication to CoinDesk.
A stronger dollar raises the cost of dollar-denominated assets like Bitcoin for international buyers, often leading to a pullback from riskier investments.
FxPro also issued a long-term alert. Bitcoin is currently near its 200-week moving average, which represents the average price over the last four years and is closely monitored as a long-term trend indicator.
Historically, when Bitcoin has approached this line, the resulting weakness has lasted longer than brief periods, with the last occurrences lasting approximately nine months in 2015, six months in 2018, and about six quarters following the 2022 downturn. The firm suggested that this pattern indicates a potential crypto winter, characterized by sustained low prices rather than a swift recovery.
For the time being, Kuptsikevich anticipates a significant resistance range around $61,800 to $62,000, where resting orders could either push prices higher as short sellers cover their positions or limit any upward movement.
If this support fails, he indicated that a drop to $55,000 could be a plausible low for this cycle. He advised traders to prioritize risk management instead of chasing market direction.
The next significant data point will be U.S. inflation figures, which are expected later, outlining the Fed's preferred price index.
A strong inflation report would bolster the Federal Reserve's hawkish stance and the strong dollar, which are currently pressuring crypto, while a weak reading could alleviate some of that pressure. Regardless, crypto is no longer reacting to oil and geopolitical news that influenced the market in June; instead, it is responding to ETF withdrawals and diminished demand, which have not been alleviated by the recent stock market rebound.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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