Bitcoin Breaches $64,000 Support Amidst Fourth Consecutive Daily Drop
This Thursday, June 4, 2026, BTC continued its descent, trading at $64,022, marking a 3.9% daily loss. ETH followed suit, dropping to $1,811, a 2.4% decrease. BTC’s weekly performance now stands at a staggering -13.9%, making it one of its worst monthly showings. While volumes remain high, a slight deceleration in selling pressure hints at a potential exhaustion of panic. This fourth consecutive day of decline points to a broader market capitulation. Traditional markets are also struggling, with the Nasdaq down 2% for the week. BTC is now testing the $64,000 support level, a price point that acted as resistance in April. ETH, trading below $1,850, continues to show persistent weakness. On-chain data reveals an increase in transfers to exchanges, indicating that long-term holders are beginning to sell – a rare phenomenon that intensifies selling pressure. Observers suggest this Thursday could mark an inflection point. If BTC holds the $64,000 level, a technical rebound is possible, but underlying fundamentals remain fragile. This week is shaping up to be the worst since March 2025, with investor confidence severely shaken. The coming days will be decisive: either the market finds a bottom, or a new wave of selling could push it towards $60,000. Meanwhile, caution is paramount, and defensive strategies are prevailing.
