Bitcoin Plunges 13% in Dark Week, $60K Support Looms
BTC closed this Friday, June 5, 2026, at $63,796, marking a 0.4% daily decline. ETH, meanwhile, traded at $1,769. However, the real shock came on a weekly basis: BTC plummeted by 13.2% over seven days, a severe correction that wiped out several weeks of gains. Crypto markets are under significant pressure, leaving investors holding their breath. This downturn unfolds against a backdrop of a tense macroeconomic environment. Global recession fears persist, fueled by disappointing economic data from the United States and Europe. Risk assets, including cryptocurrencies, are typically the first to suffer when risk aversion takes hold. BTC, often touted as a safe haven, here demonstrates its correlation with traditional markets. Trading volumes surged, indicating either widespread panic or massive profit-taking. For investors, this ‘dark week’ serves as a stark reminder of crypto’s inherent volatility. While some view this as a buying opportunity at reduced prices, others fear further downside. The psychological threshold of $60,000 is now firmly 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.
