Українська
Русский
English
Bitcoin Rises Above $62,000 After Sharp Sell-Off
Bitcoin rose above $62,000 on Sunday, recovering from its 2026 lows after a sharp market sell-off that wiped hundreds of billions of dollars from the value of digital assets, CoinDesk reported.
The world’s largest cryptocurrency was trading up 3.08% at $62,843.5 as of 10:04, after briefly falling below the key $60,000 mark on Friday. The recovery followed one of the toughest weeks for crypto markets since the collapse of FTX in late 2022.
Over the week, Bitcoin lost more than 17%, while Ethereum fell by around 20%. The total capitalisation of the digital asset market shrank by approximately $390 billion, falling to just above the $2 trillion mark.
The decline was intensified by large-scale liquidations. According to CoinGlass data cited by CoinDesk, around $7 billion worth of leveraged positions were liquidated over the week, of which approximately $5.7 billion came from long positions.
One catalyst was the disclosure that Strategy had sold Bitcoin for the first time since 2022. Although the transaction involved only 32 BTC worth around $2.5 million, it raised concerns among investors who had viewed the company as a stable source of demand for the cryptocurrency.
Another negative factor was the outflow of funds from spot Bitcoin ETFs. Market participants are increasingly pointing to capital rotation into investments linked to artificial intelligence, as investors seek opportunities in AI infrastructure, semiconductor producers and anticipated technology IPOs.
The sell-off accelerated after Friday’s stronger-than-expected US employment report. The data pushed Treasury yields higher and strengthened expectations that the Federal Reserve may keep interest rates elevated for longer, putting pressure on risk assets, including cryptocurrencies.
Despite the recent volatility, developments in the financial sector indicate the continued adoption of blockchain technology. JPMorgan Chase, Bank of America, Citigroup and other major banks announced plans to launch a joint tokenised deposit network by 2027, which will allow funds to move through blockchain infrastructure with round-the-clock settlement.
In addition, several Bitcoin wallets created back in 2011 became active after more than a decade of inactivity. The transfers drew broad attention from the crypto community and highlighted the value of assets held by some of Bitcoin’s earliest investors.
Investors are now watching whether Bitcoin can hold support above $60,000 and continue recovering after a week marked by liquidations, ETF outflows and broader macroeconomic uncertainty.
Crypto Market Today: Altcoins Rise but Remain Down for the Week
On Saturday, cryptocurrency prices broadly declined in line with Bitcoin.
The world’s second-largest cryptocurrency, Ether, rose 4.45% to $1,640.23, although it still shows a weekly decline of 17.58%.
XRP gained 6.58% to $1.1631, although it lost more than 13.18% over the week.
Solana and Cardano recovered recent losses and rose by 5.24% and 6.25%, respectively. BNB climbed 3.45%.
Among meme coins, Dogecoin and $TRUMP rose by 5.28% and 0.00%, respectively.
See also: "$938M Worth of Crypto Token Unlocks Scheduled for June 8–14"
