Bitcoin caps a dismal week as price wallows 50% below its all-time high

Bitcoin’s dire start to June worsened early on Friday, with the cryptocurrency on course to trade more than 15% lower for the week.

Prices had fallen to their lowest levels since early April on Tuesday after crypto treasury company Strategy sold a small amount of its bitcoin holding, weighing on sentiment.

Meanwhile, tech stocks have been under pressure, bringing an end to an extended rally, after Broadcom’s revenue miss on Wednesday sent semiconductor stocks lower. 

To cap off an already bruising week in crypto, privacy coin Zcash tumbled after an AI-assisted security review exposed a long-standing vulnerability that could have allowed the creation of counterfeit ZEC.

A bitcoin rebound, or characteristic dip-buying by investors, is yet to take place. It was last seen trading at $62,500, meaning it is down by about half since its all-time high of $126k in October 2025 – a decline of 50% in just ten months. 

As of now, bitcoin is teetering just above the psychologically important $60k threshold. The last time it traded below $60k was on September 18, 2024.

Charles-Henry Monchau, chief investment officer at Syz Group, said bitcoin’s latest weekly decline has been driven by a combination of Strategy’s forced selling and a crowding-out effect from hot money chasing other assets.

“Speculators are going all-in on AI stocks and memory chips, especially in Korea, and the market also anticipates that upcoming monster IPOs will divert some retail money into the new stocks,” Monchau told CNBC over email.