{"id":73820,"date":"2026-06-10T08:40:47","date_gmt":"2026-06-10T08:40:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-trades-near-61300-after-worst-week-since-ftx-collapse-wipes-390-billion-from-crypto\/"},"modified":"2026-06-10T08:40:47","modified_gmt":"2026-06-10T08:40:47","slug":"bitcoin-trades-near-61300-after-worst-week-since-ftx-collapse-wipes-390-billion-from-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-trades-near-61300-after-worst-week-since-ftx-collapse-wipes-390-billion-from-crypto\/","title":{"rendered":"Bitcoin Trades Near $61,300 After Worst Week Since FTX Collapse Wipes $390 Billion From Crypto"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin fell about 17.3% on the week ending June 6, while ether dropped 22%, the steepest declines for both assets since November 2022.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Roughly $390 billion in value vanished and near $7 billion in leveraged positions were liquidated.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Investors pulled about $5.5 billion from U.S. spot bitcoin ETFs over 13 straight days of outflows.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">A Drawdown Not Seen Since 2022<\/span><\/h2>\n<p><span style=\"font-weight:400\"> <span>Bitcoin<\/span> closed out one of its ugliest stretches in years, dropping about 17.3% while ether fell roughly 22%, the largest weekly declines for both since November 2022, when the implosion of Sam Bankman-Fried\u2019s FTX exchange triggered a market-wide panic. <span>Bitcoin<\/span>\u2019s slide below $60,000 capped a stretch that wiped roughly $390 billion from the total <span>crypto<\/span> market, according to data <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-09\/bitcoin-s-worst-week-since-ftx-crash-may-signal-more-pain-ahead\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">cited by Bloomberg<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<figure id=\"attachment_821724\" aria-describedby=\"caption-attachment-821724\" style=\"width:1597px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-821724\" class=\"wp-caption-text\">Data showing <span>Bitcoin<\/span>\u2019s worst 7-day price performance in over 1,300 days<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">The damage was amplified by <span>leverage<\/span> as nearly $7 billion in leveraged positions were liquidated during the sell-off, accelerating the move lower as forced selling cascaded through derivatives markets. <\/span><span style=\"font-weight:400\">In a note issued by Bloomberg, analysts warned the pain may not be over, adding:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight:400\">\u201cThe forces currently at play seem almost benign by comparison, but that\u2019s raising red flags for analysts, who warn that the token\u2019s modest rebound may prove short-lived.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight:400\">Several pressures converged at once, with the heaviest one being relentless outflows from spot exchange-traded funds (ETFs). To this point, investors pulled roughly $5.5 billion from U.S.-listed spot <span>bitcoin ETFs<\/span> over 13 consecutive days of net redemptions, draining a key source of demand that had supported prices for much of the cycle.<\/span><\/p>\n<p><span style=\"font-weight:400\">Moreover, earlier this week, <span>Bitcoin.com<\/span> News reported that <span>bitcoin ETFs<\/span> logged $1.72 billion in their <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-etfs-lose-1-72b-in-second-largest-weekly-outflow-since-launch\/\"><span style=\"font-weight:400\">second-largest weekly outflow<\/span><\/a><span style=\"font-weight:400\"> since launch, with the development being partially attributed <\/span><span style=\"box-sizing:border-box;margin:0px;padding:0px\">to <a href=\"https:\/\/news.bitcoin.com\/bitcoin-falls-under-66000-etf-outflows-strategy-sale\/\">Strategy\u2019s<\/a><\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-falls-under-66000-etf-outflows-strategy-sale\/\"><span style=\"font-weight:400\"> bitcoin sale, <\/span><\/a><span style=\"font-weight:400\">which dented <\/span><span style=\"font-weight:400\">confidence among institutional buyers who had absorbed supply through 2026.<\/span><\/p>\n<p><span style=\"font-weight:400\">Macro forces added to the mix as strong U.S. jobs data and an <a href=\"https:\/\/news.bitcoin.com\/bitcoin-surges-64k-trump-netanyahu-iran-deal\/\">unresolved U.S.-Iran conflict<\/a> pushed traders to abandon bets on Federal Reserve rate cuts and even price in the chance of increases. At the same time, capital also rotated into artificial intelligence (AI) equities and data-center plays, suggesting that investors are seeing clearer near-term catalysts there rather than in <span>crypto<\/span>.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Is the Bottom in?<\/span><\/h2>\n<p><span style=\"font-weight:400\">The speed of the decline has split analysts as some argue the worst may be over, pointing to washed-out <span>leverage<\/span> and the kind of capitulation that often marks local bottoms, while others see structural frailties (thin <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-liquidity\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">liquidity<\/a>, ETF redemptions, and competition for risk capital) exposing <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> to further downside before any durable recovery.<\/span><\/p>\n<p><span style=\"font-weight:400\">And, with more than half of all <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> now held at a loss, the market sits in territory that has historically preceded bottoms, yet some metrics suggest the selling has not reached levels of maximum capitulation seen in past cycles. All eyes are now on <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a> and whether it can stay <\/span><span style=\"font-weight:400\">above the $60,000 range for an extended period of time. <\/span><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-worst-week-since-ftx-collapse-2026\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin fell about 17.3% on the week ending June 6, while ether dropped 22%, the steepest declines for both assets since November 2022. Roughly $390 billion in value vanished and near $7 billion in leveraged positions were liquidated. Investors pulled about $5.5 billion from U.S. spot [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73820"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73820"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73821"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}