Bitcoin’s drop into oversold territory has led technical indicators to begin signalling a possible recovery. According to analysts, Bitcoin ($BTC), which has lost roughly 30% of its value over the past month, has reached its lowest Relative Strength Index (RSI) level since the pandemic-driven market crash in 2020.
Bitcoin ownership patterns changed in the first quarter of 2026, as hedge funds and brokerage firms reduced risk during the market downturn, while banks, governments and private equity firms increased their positions, according to data published in a recent CoinShares report.
As of 5 June 2026, the US stock market had lost almost $2 trillion in capitalisation after the release of one of the strongest US jobs reports in the past 18 months. Against this backdrop, Bitcoin fell by more than 50% from its October 2025 all-time high, while analysts, investors and crypto industry representatives offered sharply different assessments of what is happening in the market.
Between 1 and 5 June 2026, the spot Bitcoin ETF sector recorded capital outflows of $1.72 billion. This was the second-largest negative result in the entire history of these products, according to SoSoValue data.
Bitcoin rebounded above $61,000 on Saturday after briefly falling below the key $60,000 level, as traders assessed the fallout from a broad market sell-off triggered by stronger-than-expected US employment data.
Friday’s mass cryptocurrency sell-off pushed the total market capitalisation of altcoins down to $880 billion. Zcash suffered the heaviest damage among major tokens, with its price plunging by more than 40% to $264.80.
The push to pass the CLARITY Act is gaining momentum as lawmakers seek to introduce federal rules for digital asset markets. The proposal has received support from congressional leaders, industry organisations, consumer advocacy groups, national security veterans, and President Donald Trump.
Bitcoin is testing a major support area after losing the $80,000 region and rejecting key moving averages. Analysts now point to the low-$60,000 zone as the main level to hold, while a deeper break could bring the $48,700 and $40,000–$50,000 areas into focus.
Taylor Hornby, the security engineer who used Anthropic’s Opus 4.8 AI model to find a critical bug in Zcash, says privacy coin Monero is among the tokens he intends to audit next.
The Elon Musk-owned rockets, satellite and AI company SpaceX is selling up to 30% of its record $75 billion offering directly to retail investors through Robinhood, Fidelity and Charles Schwab, more than three times the slice a typical IPO sets aside for individuals.
During the night of 5–6 June 2026, Bitcoin briefly fell below the $60,000 mark, triggering large-scale liquidations in the derivatives market. According to CoinGlass, positions held by 349,549 traders worth a total of $1.81 billion were forcibly closed over the past 24 hours. The event became one of the largest liquidation cascades of the year and returned Bitcoin to levels last seen in October 2024.
Bitcoin fell below $60,000 for the first time since autumn 2024, according to data from the Binance platform. Since reaching a peak of $126,000 last October, Bitcoin briefly lost more than half of its value, Bloomberg notes. Traders are convinced that the correction will not end soon.
Friday’s sell-off pushed $XRP deeper into the red, completing a 22% retrace over the past 30 days and sending the token below $1.10 for the first time since November 2024.
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