Bitcoin On Track For Worst Week Since FTX Collapse, ETH, XRP Lose Up To 23% In 7-Day Crypto Rout

Bitcoin plunged below $60,000 for the first time since October 2024, extending losses in what has become its worst week since November 2022.

Sentiment deteriorated further into extreme fear, signaling rising market anxiety heading into the weekend.

Notable Statistics:

Coinglass data shows 310,873 traders were liquidated in the past 24 hours for $1.56 billion.       

SoSoValue data shows net inflows of $3.05 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $19.3 million.

In the past 24 hours, top losers include Zcash, Internet Computer and Polygon.

Notable Developments:

Trader Notes:

Economist Peter Schiff noted Bitcoin briefly fell below $60,000,…

Read more on Benzinga

Money Is Flowing into AI Stocks While Bitcoin Liquidates

In light of these developments, a crucial question arises: is this a temporary event, or is the financial market undergoing restructuring?

How Bitcoin Established Itself As A Dominant Asset

Bitcoin has evolved from a digital curiosity to an asset recognized by portfolio managers, who now recommend it for inclusion in investment portfolios. It has paved the way for increased corporate interest in cryptocurrency.

​Although volatility and regulation present challenges, Bitcoin remains attractive due to its history and key milestones.

​Bitcoin’s supply cap of 21 million units creates scarcity. Its decentralized protocol allows investors to trust the system. Many countries have improved…

Read more on Benzinga

XRP Plummets 17% In 1 Week Despite New Ripple Expansion: What Is Going On?

XRP (CRYPTO: XRP) dropped 7% on Friday, capping a 17% weekly loss as the token tests the critical $1 to $1.20 historical support zone that triggered the February recovery.

RSI At 18 Is The Most Oversold Reading In Two Years

XRP is now in capitulation territory with RSI at 18.79, the lowest reading on the entire two-year chart, sitting below both previous oversold signals that each produced substantial recoveries. 

The full EMA stack sits bearishly overhead with the nearest moving average, the 20 EMA, at $1.2900, more than $0.20 above current price. 

The descending trendline from August 2025’s $3.60 peak continues to reject every rally attempt.

Despite the brutal price action, June 4…

Read more on Benzinga

‘Saylor Better Lawyer Up Fast,’ Peter Schiff Says: Retirees ‘May Have to Come Out of Retirement’ – Strate

STRC Broke Its 10-Month Rising Trendline As Bitcoin Bleeds

“Saylor better lawyer up fast,” Schiff half-jokingly wrote on X.

Meanwhile, STRC has violated the rising trendline that held from August 2025’s $81 lows through nearly 10 months of higher highs. 

Grayscale Head of Research Zach Pandl argued in a Thursday note that STRC trading below $100 creates a compounding problem. 

Strategy must raise its dividend rate to attract buyers back to par, but higher dividend obligations increase cash flow pressure, potentially forcing more Bitcoin sales, which pushes Bitcoin lower and sends STRC further below par.

“Strategy’s levered business model is under pressure, and this has increased…

Read more on Benzinga

Why Is CleanSpark Stock Falling Friday? – Cleanspark (NASDAQ:CLSK)

The Nasdaq is down 1.65% while the S&P 500 has shed 0.77%.

Bitcoin Downturn Presses High-Beta MinersInstitutional Backing Limits Downside Velocity

The downward momentum stands in stark contrast to positive catalysts, which noted institutional accumulation.

Recent 13F regulatory filings revealed that hedge fund Situational Awareness LP sharply boosted its stake in CleanSpark. The fund expanded its position to 12.28 million shares from 1.64 million shares held at the end of 2025—a 7.48-fold increase.

This aggressive institutional acquisition lifted the fund’s portfolio weight in the company to 0.76% from 0.3%, driving the total position value to $104.5 million.

Operational Execution Shifts… Read more on Benzinga

The Hyperinflation Of 1971 At The Kindergarten

I’m pretty sure it was 1971, but it could have been 1972. In any case, it was in kindergarten, and I was five years old. Our teachers had set up a system to motivate us kids to behave well. They had hung a big board on the wall, with all of our names listed. If you were particularly well-behaved, kind, helpful, or polite, they drew a black dot next to your name. Misbehave, and they gave you a red one. It was all about following the kindergarten rules, and the absolute transparency of it motivated most of us to try our best.

At some point, an extra prize was introduced for exceptionally good behavior: a small piece of fabric. From the group’s standpoint, that was worth much more…

Read more on BitcoinMagazine

Bitcoin’s Most Bullish Technical Signal Meets Clarity Act Tailwinds

According to data from Barchart, Bitcoin has fallen to its 200-week moving average for the first time since 2023. For long-term crypto investors, that level is more than just another line on a chart. Historically, major Bitcoin bear markets have ended near the 200-week moving average, making it one of the asset’s most closely watched long-term indicators.

The timing may not be a coincidence that investors can afford to ignore.

Bitcoin’s Ultimate Support Test

Bitcoin’s previous encounters with the 200-week moving average have often come during moments of peak pessimism.

The cryptocurrency approached the level during the 2018 crypto winter and again following the industry turmoil of…

Read more on Benzinga

5th Worst Bitcoin Price Action Ever — I’m Buying At 99.8% Probability

The bitcoin price looks bad, but I’m buying. Price might go lower, it always can, but there is value at these levels, and I’m accumulating. I think it’s important to be honest about how I’m actually acting on the analysis I publish, rather than just presenting data from a distance. And right now, the data is saying something that has only been said a handful of times in Bitcoin’s entire history.

Let’s cut to the chase:

The Crosby Ratio Z-score has one of the lowest readings in history.

The RSI is at a level we’ve only encountered a handful of times in extreme market lows.

Bitcoin has bounced off the 200-week moving average.

The SOPR is in the bottom fifth… Read more on BitcoinMagazine

LATEST: Senator Cynthia Lummis Leads Senate Push for Fair Digital Asset Capital Rules

Senator Cynthia Lummis, along with Senators Dan Sullivan, Bill Hagerty, Bernie Moreno, Ted Budd, and Jon Husted, sent a letter to key US financial regulators. The group urged the Federal Reserve, FDIC, and Office of the Comptroller of the Currency to establish clearer and fairer capital standards for banks and companies holding digital assets.

The senators criticized the Basel Committee’s 1,250% risk weight for certain digital assets like bitcoin, calling it overly punitive and not based on actual risk assessments. They highlighted recent progress on tokenized securities and pushed for a technology-neutral approach in capital rules. This effort supports broader regulatory clarity for the digital asset sector amid ongoing legislative discussions.