Bitcoin Slides Below 62,000 as the Crypto Rout Deepens

Friday, June 5, 2026 · Covering Thursday June 4 session

Summary

Bitcoin kept falling on Thursday June 4, sliding below 62,000 dollars to its lowest level since February and extending a brutal three-day slide. It is now down around 14% on the week and more than 50% below the record it set last October. The drop dragged the whole market lower, and the mood is about as fearful as it has been all year.

The fall has reached a symbolic milestone: Bitcoin has dropped below the average price Strategy paid for its huge holdings, the first time in over two years. The company, famous for buying and holding Bitcoin, is now sitting on a paper loss of more than 11 billion dollars, and its founder has been playing it down. That a flagship buyer is underwater says a lot about how far this slide has run.

Underneath, the same forces keep grinding. Big investment funds have pulled money out for almost two weeks straight, the longest stretch on record, and as prices fall, traders who borrowed to bet on a rise are forced to sell, speeding the drop. The altcoins fell harder still, with Zcash crashing more than 40% after a serious flaw was found in its code. The 60,000 mark is the line everyone is now watching.

The Big Three

1.

Bitcoin slid below 62,000 dollars, its lowest since February, down about 14% on the week and over 50% from its October record. The three-day slide dragged the rest of the market down too.

2.

A milestone fell. Bitcoin dropped below Strategy’s average buying price for the first time in over two years, leaving the famous holder with an 11-billion-dollar paper loss. When the flagship buyer is underwater, the slide has run deep.

3.

The pressure keeps building. Funds have pulled money out for nearly two weeks, forced selling is speeding the drop, and altcoins fell harder, with Zcash crashing over 40% on a code flaw. The 60,000 mark is next.

Bitcoin

~61,770

−3.81%

On the week

~−14%

Three-day slide

Mood

Fearful

Worst of the year

Next line

60,000

In view

02 The Day’s Numbers

What

Where it landed

Change

In plain terms

Bitcoin (live)

~61,770

−3.81%

Lowest since Feb

On the week

~−14%

Steep

Three-day slide

Strategy’s loss

~11B

On paper

Now below cost

Source: Bitstamp, perpetuals tape, TradingView. Snapshot: June 5, 2026 05:52 UTC.

Live Market IntelligenceCrypto — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

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Crypto — Live Market Board

Digital assets

Jun 5, 2026 · 05:51

Bitcoin · benchmark

62,548

-1.96%

L 61,385day rangeH 63,828

-38.46% over 12 months

Market breadth · 17 names

0% advancing

0 ▲ advancing17 declining ▼

Currencies, rates & key inputs

Ethereum

1,668

-5.75%

Solana

65.50

-4.68%

Gold

4,489

+0.29%

USD / BRL

5.07

+0.06%

Full instrument board

Instrument

Last

Change

YoY

Prev.

High

Low

Volume

BTC

62,548

-1.96%

-38.46%

63,802

63,828

61,385

54,941,024,256

ETH

1,668

-5.75%

-31.01%

1,770

1,771

1,637

27,755,935,744

SOL

65.50

-4.68%

-54.72%

68.72

68.90

64.07

5,454,043,136

XRP

1.12

-3.91%

-46.60%

1.17

1.17

1.10

3,236,278,016

BNB

587.98

-2.58%

-7.28%

603.53

606.08

572.95

1,965,297,920

ADA

0.16

-10.94%

-74.50%

0.18

0.18

0.16

1,125,977,088

DOGE

0.08

-5.26%

-51.20%

0.09

0.09

0.08

1,408,645,120

AVAX

7.17

-6.74%

-61.85%

7.69

7.70

7.05

479,292,544

LINK

7.54

-5.78%

-41.67%

8.00

8.02

7.39

579,045,696

DOT

0.98

-5.21%

-74.33%

1.04

1.04

0.96

179,014,208

LTC

43.82

-3.81%

-47.69%

45.55

45.72

42.75

374,788,992

BCH

222.72

-9.16%

-42.24%

245.17

245.35

221.07

261,849,312

TRX

0.32

-2.18%

+14.87%

0.33

0.33

0.32

903,643,072

XLM

0.19

-5.23%

-25.92%

0.20

0.20

0.19

771,974,016

HBAR

0.08

-2.64%

-48.99%

0.08

0.08

0.08

124,788,240

NEAR

2.06

-6.40%

-9.03%

2.20

2.28

2.01

1,159,955,072

ATOM

1.74

-3.41%

-57.41%

1.80

1.81

1.72

45,386,984

AAVE

67.99

-4.44%

-71.93%

71.15

71.45

64.70

401,418,784

Largest moves today

ADA

0.16

-10.94%

BCH

222.72

-9.16%

AVAX

7.17

-6.74%

NEAR

2.06

-6.40%

LINK

7.54

-5.78%

ETH

1,668

-5.75%

DOGE

0.08

-5.26%

XLM

0.19

-5.23%

The session read

The Bitcoin eased 1.96%, with breadth negative — 0 of 17 names higher. TRX led, while ADA lagged.

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03 Why It Fell

Money keeps walking out

The engine of this slide is steady selling by big investors. The funds that let large institutions own Bitcoin have seen withdrawals for nearly two weeks straight, the longest run on record, pulling out roughly 3.5 billion dollars, and large holders have been selling too. Those buyers had propped the market up for over a year, so their exit pulled away the floor. As the price fell, traders who had borrowed to bet on a rise were forced to sell, driving prices down faster and flushing hundreds of thousands of accounts.

A milestone and a blowup

Two things deepened the gloom. Bitcoin fell below the average price Strategy, the company best known for hoarding it, paid for its stash, the first time in over two years, leaving it with a paper loss above 11 billion dollars; when even the most committed buyer is underwater, confidence takes a knock. Then came a sharp altcoin blowup: Zcash, a privacy-focused coin, crashed more than 40% after developers revealed a serious flaw in its code.

§04 · The Bigger Picture

Step back and this is a market that has been bleeding for weeks, and the bleeding has sped up. Bitcoin has fallen more than half from its October record to its lowest since February, partly because investors have shifted money toward gold and technology shares, and now that even Strategy is underwater, the question of who is left to buy hangs over it. Markets this stretched and fearful are sometimes close to a low, but with funds still pulling cash out, there is little to stop another leg toward the 60,000 mark everyone is watching.

05 The Altcoin Tape

The selling was everywhere, and the altcoins took the worst of it. Ether fell under 1,700 dollars and Solana, NEAR, Cardano and HYPE dropped by double digits, while Zcash crashed more than 40% on its code flaw. Gold and silver barely moved, a sign this was money fleeing risky bets rather than a panic across all markets.

Coin

Price

24h

Note

BTC

61,770

−3.81%

Below 62K, 3-day slide

ETH

1,653

−7.83%

Under 1,700

SOL

64.73

−8.35%

Heavy fall

BNB

578.53

−4.54%

Lower again

XRP

1.1120

−6.77%

Slips under 1.12

DOGE

0.0836

−7.34%

Meme coins hit

ADA

0.1609

−18.82%

Among worst

XLM

0.1916

−10.07%

Broad weakness

SUI

0.6976

−13.01%

Mid-cap rout

NEAR

2.0795

−16.91%

Sharp drop

HYPE

60.69

−13.85%

Steep slide

ENA

0.0855

−18.02%

Deep fall

ONDO

0.3554

−8.28%

Gives back more

PEPE

0.0₃5₃2744

−10.35%

Meme bleed

ZEC

339.31

−42.94%

Crashed on bug

WLD

0.5136

−3.39%

Holds up better

XAU

4,459

−0.31%

Gold barely moves

XAG

72.55

−0.87%

Silver eases

XAUT

4,429

−0.32%

Tokenized gold steady

OPN

0.2697

+33.38%

Bucks the trend

Source: perpetuals tape, 24h change. Snapshot: June 5, 2026 05:52 UTC. Gold and silver shown for comparison.

06 A Look at the Chart

Bitcoin BTC/USD daily, Bitstamp. TradingView · June 5, 2026 05:52 UTC

The chart is deeply beaten-down and getting worse. Bitcoin sits far below its longer-term trend line near 71,800 and beneath all its recent average prices, a clear and deepening decline. The mood gauge is near an extreme low, which can come before a bounce but is not a bottom on its own. The 60,000 area is the line everyone is watching now.

07 Questions & Answers

Why did Bitcoin keep falling?

Big funds have pulled money out for nearly two weeks, and as the price dropped, borrowed bets were forced to sell, speeding the slide. Bitcoin fell below 62,000 dollars, its lowest since February.

Why does Strategy’s loss matter?

Strategy is the best-known corporate Bitcoin holder. Bitcoin falling below its average buying price, leaving an 11-billion-dollar paper loss, shows how deep the slide has run, with even the most committed buyer now underwater.

Did everything fall?

Almost. Altcoins fell hardest, with Zcash crashing more than 40% on a code flaw and several others down double digits. Gold and silver barely moved, a sign this was money leaving risky bets, not a panic everywhere.

Verdict

The rout is deepening. Bitcoin slid below 62,000 dollars on Thursday, its lowest since February, down about 14% on the week and more than half from its October record. It is now below the average price Strategy paid for its huge stash, leaving the famous holder with an 11-billion-dollar paper loss. The same forces keep grinding, with funds pulling money out for the longest stretch on record and forced selling speeding the drop, while altcoins fell harder and Zcash crashed over 40% on a code flaw. The mood is as fearful as it has been all year, which can come near a low, but with money still leaving, this looks like a market still hunting for a floor. The 60,000 mark decides what comes next.

Related: The selloff so far · Strategy underwater · The fund withdrawals.

Even the flagship buyer is underwater; with money still leaving, 60,000 decides what comes next.

Disclaimer: This report is editorial market analysis based on publicly available data. It is not investment advice. Markets carry risk; consult a licensed professional before trading.