TL;DR:
Bitcoin’s latest slide has turned a difficult June into something closer to capitulation, with BTC falling to just over $61,000 before failing to hold a rebound near $64,000. The asset had stood above $73,000 on June 1, but successive selloffs broke $70,000, then $66,000, and finally pushed price to its weakest level since February’s crash. The troubling signal is that every recovery attempt is being rejected, leaving Bitcoin below $63,000 at press time and down 14% on the week. That sequence has left the market searching for a floor rather than debating fresh highs, an abrupt turn from the optimism visible only days ago.
The selloff has also dented Bitcoin’s market structure. After more than $1.6 billion in liquidations across the market, BTC’s market capitalization fell to about $1.260 trillion. Its dominance over altcoins dropped by more than 2% in the past week to 55.6%, which sounds bullish for smaller tokens until the rest of the tape is reviewed. Bitcoin is losing dominance because everything is falling, not because altcoins are thriving, a strange and uncomfortable distinction for traders hoping for rotation. It also removes the easy argument that BTC weakness automatically fuels a healthier altcoin bid.
Altcoins remained deeply red, and in several cases the damage was worse than Bitcoin’s. Ether fell to $1,750 after touching a 14-month low, while Solana dropped below $70 following a 9% daily decline. XRP briefly slipped under $1.15 before recovering slightly, and ADA fell below $0.19 for the first time in years. The breadth of the decline shows stress across major assets, with BNB below $600 after a 7% fall and ZEC, DOGE, LINK and AVAX also trading sharply lower.
The few green spots did little to change the broader picture. WLD stood out with an 11% surge during the distress, but NEAR, TON and RENDER were among the heaviest losers, dropping up to 18% on the day. Total crypto market capitalization erased another $140 billion in 24 hours and sat below $2.270 trillion, after earlier pressure pushed the market toward $2.250 trillion. The market is not only lower, it is struggling to stabilize, as Bitcoin’s inability to hold momentum above $62,000 keeps traders bracing for another support test through the next volatile trading sessions ahead now.
