Bitcoin Falls Beneath $60,000, Risks Consecutive Quarterly Losses

The token has slid nearly 7% over the past week, with altcoins taking even heavier losses. Bitcoin and Ether are both set to close the second quarter in negative territory, marking a rare stretch of consecutive losses in the first half—an outcome that runs counter to typical market seasonality.

Bitcoin dipped below the $60,000 threshold over the weekend, trading near $59,940 on Sunday. It is down 0.6% over the past 24 hours and nearly 7% on the week, according to CoinDesk data, as the quarter nears its end.

Altcoins once again led the decline. Ether fell 9.5% over the week to around $1,567, while Dogecoin dropped 11.7% to $0.073. Hyperliquid’s HYPE lost 10.6%, and XRP declined 8.7% to $1.04. Solana showed relative resilience, easing 3.5% to $70, while Tron proved the most stable, down just 1.5%.

Throughout the week, the broader market leaned on Bitcoin’s relative steadiness as higher-risk assets sold off more aggressively.

With only a few days left in the quarter, the market is closing out a weak first half. Bitcoin is on track to record a roughly 12% decline in Q2 after falling about 22% in Q1, based on Coinglass data. Ether has performed worse, dropping around 25% in the second quarter following a 29% slide in the first.

Two straight losing quarters to start the year is uncommon for both assets, having occurred only twice before in Bitcoin’s history. Typically, the second quarter has been one of Bitcoin’s stronger periods, making this break from trend notable.

The same macro forces continue to weigh on crypto. Capital has rotated into semiconductor and memory-chip stocks amid the ongoing AI-driven rally. At the same time, persistent outflows from U.S. spot Bitcoin ETFs, a hawkish Federal Reserve under Chair Kevin Warsh, and a U.S. dollar near a seven-month high have pressured the market. A tech stock sell-off earlier in the week added further downside pressure.

As the third quarter approaches, traders will be watching closely to see whether ETF outflows ease and demand improves, or if the weakness seen in the first half continues into the months ahead.