Bitcoin closed this Friday, June 5, 2026 at $63,796, down 0.4% on the day. Ethereum, meanwhile, was trading at $1,769. But the real shock is weekly: BTC plunged 13.2% in seven days, a severe correction that wipes out several weeks of gains. Crypto markets are under pressure, and investors are holding their breath.
This drop comes amid a tense macroeconomic backdrop. Fears of a global recession persist, fueled by disappointing economic data in the US and Europe. Risk assets like cryptocurrencies are the first to suffer when risk aversion dominates. Bitcoin, often touted as a safe haven, is showing its correlation with traditional markets here. Trading volumes have spiked, signaling either panic or massive profit-taking.
For investors, this dark week highlights the inherent volatility of crypto. Some see it as a buying opportunity at a discount, while others fear further declines. The psychological threshold of $60,000 is now in sight. The short-term trend remains bearish, and the coming days will be crucial in determining whether the market finds a floor or continues its slide.
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