Bitcoin slid 6% intraday to as low as $59,550, marking a 17% drop over the past week and its weakest level since October 2024. Shares of Coinbase Global fell roughly 8% on June 5 as crypto ETFs saw a 13-day outflow streak totaling over $25 billion.
Bitcoin’s price fell to as low as $59,550 on June 5, representing a 6% single-day drop and a 17% slide over the past week, its weakest level since October 2024 and less than half its all-time high of $126,000.
Crypto exchange-traded funds experienced their longest consecutive outflow streak ever, shedding over $25 billion across 13 trading days, amplifying selling pressure on Bitcoin and related assets.
Coinbase Global shares declined approximately 8% on June 5, tracking Bitcoin’s downturn and heightened ETF redemptions that weigh on transaction volumes and trading fees.
The Nasdaq Composite fell nearly 4% on the same day, as investors rotated out of richly valued technology names tied to the AI trade, further dampening sentiment across digital-asset platforms.
Marketwatch
