The past few months have not been easy for miners. Mining profitability has fallen to the lowest levels ever recorded, while Bitcoin continues to fluctuate near the $60,000 level.
Bitcoin is trading at $61,433 on 10 June, holding above the support zone that was briefly broken on 5 and 6 June, when Fidelity Digital Assets noted that the price fell below the 200-week SMA near $61,800 — a level historically associated with forced-selling events.
Bitcoin declined on Wednesday, following a broad sell-off across risk assets, as renewed military action between the United States and Iran undermined hopes for a peaceful settlement in the Middle East.
The total dollar value of net assets across the 11 spot ETFs stood at $77.58 billion on June 9. That is the same level seen just after President Donald Trump won the presidential election in early November 2024.
Bitcoin is approaching a decisive technical zone after its four-hour chart showed a rebound from below $60,000 that stalled near $63,217. The recovery brought the token’s price back to immediate resistance at $63,846, while the stronger confirmation zone lies between $64,000 and $66,000.
Bitcoin’s fall below $60,000 last Friday capped its worst week since the collapse of Sam Bankman-Fried’s FTX exchange in 2022. The forces currently at work seem almost harmless compared with those events, but that is exactly what worries analysts, who warn that the token’s modest rebound may prove short-lived as structural weaknesses are exposed. Bloomberg writes about this.
On Tuesday, Bitcoin stabilised after the largest corporate holder of the cryptocurrency, Strategy, used the recent price decline to buy more, while tensions in the Middle East eased, bringing some relief to crypto markets.
Institutional Bitcoin reserves are growing: the top 100 holders account for 1,258,090 $BTC, with Strategy leading the list with a massive position of 845,256 $BTC.
Gold has fallen by more than 20% from its January record high of $5,600 per ounce and is now trading below its 200-day moving average (200DMA). This has happened for the first time since October 2023.
Bitcoin successfully returned to the $64,000 mark, interrupting a sharp multi-day decline that had previously pushed its price below $60,000.
2026 has been a difficult period for the cryptocurrency market: since the start of the year, each of the five largest crypto assets by market capitalisation has posted double-digit losses. Among this group, Solana ($SOL) has suffered the most, losing more than 47% of its value since January 1. To understand where the market may head next, we asked several leading modern artificial intelligence (AI) models to forecast the year-end prices of $BTC, $ETH, $BNB, $XRP and $SOL. Their answers were, to put it mildly, intriguing.
On Monday morning, Bitcoin once again rose above the $63,000 mark thanks to activity from institutional investors and progress by US lawmakers on key cryptocurrency bills. As a result, the total market capitalisation of digital assets reached $2.19 trillion.
Bitcoin remains under pressure after a sharp correction erased a significant portion of its earlier gains, but fresh speculation surrounding Strategy Executive Chairman Michael Saylor has sparked renewed market interest.
According to CoinGlass, short sellers, who profit when prices fall, lost $504,000,000 in the 24 hours leading up to Monday morning, the largest daily figure since late April. By comparison, bullish bets generated only $151,000,000 in losses.
Spot Bitcoin ETFs recorded 13 consecutive days of net capital outflows between May 15 and June 3. This is the longest outflow streak since these products were launched in early 2024.
Bitcoin edged higher on Monday, stabilising after last week’s sharp decline. Sentiment in the crypto market remains fragile amid continued institutional selling and rising tensions in the Middle East.
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