Even though a handful of days still cling to June, the month carved out one of crypto’s bleakest records 🖤.
Before diving into last week’s chaos, we rewind to Friday when new Fed Chair Kevin Warsh kept rates frozen and stayed hawkish after the FOMC meeting while the long-awaited US-Iran deal slipped away. Bitcoin plunged from 67200 straight down to 63000. Bulls clawed it back to 65500 on Monday, yet the real storm hit soon after.
BTC faced a sharp rejection and shed over three thousand dollars in mere hours 📉. Its rebound stalled at 63000, letting bears drag price to 59000 and a fresh multi-year low. An early bounce to 62000 proved nothing more than a dead-cat twitch. The next wave pushed it even lower to 58000, first time since October 2024. That floor has held so far, but price lingers below 60000 as uncertainty swirls around Michael Saylor’s Strategy.
Market Snapshot 🌑
The weekly overview shows red everywhere. BTC slipped past 5 percent while ETH and XRP each dropped 8.5 percent and HYPE fell 7 percent. DOGE, ZEC, ADA, and XLM all posted double-digit losses. Only RAIN (+8 percent) and AAVE (+20.5 percent) stayed positive. Total market cap erased more than 120 billion dollars in seven days.
Market Cap: 2.14T | 24H Vol: 99B | BTC Dominance: 55.6 percent
BTC: 59555 (-5.1 percent) | ETH: 1560 (-8.5 percent) | XRP: 1.04 (-8.5 percent)
Headlines from the Shadows 🕸️
CryptoQuant urged Strategy to pause fresh Bitcoin buys and rebuild USD reserves instead. The firm did exactly that, scooping only 35 million dollars worth of BTC while parking an extra 300 million into stable reserves.
Analysts painted grim pictures for MSTR stock, with one extreme scenario showing it crashing to a single dollar if the bear market stretches on. Warnings also surfaced that Strategy could be forced to offload over fifty thousand BTC within the next couple of years.
Polymarket vowed to refund users after a third-party frontend hack drained three million dollars from select accounts.
Hyperliquid brushed off its placement on Singapore’s Investor Alert List, insisting the listing does not equal any ban or violation.
On-chain metrics revealed miners flooding Binance with large BTC transfers right as price collapsed.
Despite gold holding up better, one analyst argued the supposed rotation narrative away from Bitcoin is simply incorrect.
Chart Breakdowns 💀
Fresh technical reads landed on Ethereum, Ripple, Cardano, Binance Coin and Hyperliquid—check the full analysis link for details.
Just another echo from the void by iconofsin.eth 💖
