Bitcoin falls to $59,100, worst week since 2022

Bitcoin plunged to its lowest level in over a year this week, intensifying a prolonged market downturn and erasing billions in value. The cryptocurrency fell to approximately $59,100 on Friday, June 5, marking a decline of more than 50% from its all-time high of roughly $126,000 reached in October 2025.

The sell-off represents Bitcoin's worst weekly performance since 2022 and has pushed the asset below several key technical support levels, including the $65,000 and $60,000 thresholds that many analysts viewed as critical. The downturn has been characterized by persistent outflows from U.S. spot Bitcoin exchange-traded funds (ETFs), which have shifted from a major source of institutional demand into a channel for sustained selling pressure. Data indicates these funds have seen billions of dollars in net withdrawals over recent weeks.

Several factors are cited for the decline. Analysts point to a rotation of investor capital into traditional equity markets, particularly high-performing artificial intelligence stocks, and anticipation of major upcoming initial public offerings. Regulatory uncertainty also persists, with a proposed crypto market structure bill facing legislative...