{"id":24114,"date":"2026-06-08T05:31:55","date_gmt":"2026-06-08T05:31:55","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/08\/bitcoin-and-ether-face-worst-weekly-drop-since-ftx-collapse\/"},"modified":"2026-06-08T05:31:55","modified_gmt":"2026-06-08T05:31:55","slug":"bitcoin-and-ether-face-worst-weekly-drop-since-ftx-collapse","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/08\/bitcoin-and-ether-face-worst-weekly-drop-since-ftx-collapse\/","title":{"rendered":"Bitcoin and Ether Face Worst Weekly Drop Since FTX Collapse"},"content":{"rendered":"<p><\/p>\n<div>\n<p><b>Bitcoin (BTC) and Ethereum (ETH)<\/b><span style=\"font-weight: 400;\"> are closing the first week of June 2026 with one of their sharpest downward moves since the <\/span><b>FTX collapse<\/b><span style=\"font-weight: 400;\">, as capital flows out of spot ETFs and leveraged positions are heavily liquidated across the crypto market. <\/span><a href=\"https:\/\/nftevening.com\/us-bitcoin-etf-12-day-outflow\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTC fell <\/span><\/a><span style=\"font-weight: 400;\">by approximately 16% over 7 days, while ETH lost nearly 20%. Selling pressure intensified as investors reassessed the outlook for U.S. interest rates following the latest employment data, while Strategy\u2019s move to sell a small amount of BTC left market sentiment even more cautious.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Snapshot\"\/><span style=\"font-weight: 400;\">Market Snapshot<\/span><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">CoinGecko data shows BTC rose about 1.8% in the last 24 hours but is still down <\/span><b>16% <\/b><span style=\"font-weight: 400;\">over 7 days. Bitcoin\u2019s market capitalization stands at around $1.24 trillion, while its 24-hour trading volume reached over $31 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, ETH faced heavier pressure. The market\u2019s second-largest cryptocurrency rose about 3.7-3.8% in the last 24 hours but is still down 19.9% over 7 days. ETH traded in a range of $1,523-$2,018 over the past week, with a market capitalization of around $195 billion and a 24-hour trading volume of over $14 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><b>total crypto market<\/b><span style=\"font-weight: 400;\"> capitalization is currently around $2.12 trillion, with a 24-hour trading volume of nearly $137 billion. Bitcoin dominance stands at 58%, while ETH accounts for about 9.3% of the total market cap, indicating that selling pressure has spilled directly into the market\u2019s two core assets.<\/span><\/p>\n<div id=\"attachment_162281\" style=\"width: 2260px\" class=\"wp-caption alignnone\"><noscript><\/noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162281\" class=\"lazyload size-full wp-image-162281\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-07-at-22.51.45.png\" alt=\"Crypto market overview\" width=\"2250\" height=\"822\"\/><\/p>\n<p id=\"caption-attachment-162281\" class=\"wp-caption-text\">Crypto market overview. Source: TradingView<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_Bitcoin_and_Ether_Fell_So_Sharply\"\/><b>Why Bitcoin and Ether Fell So Sharply<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"ETFs_Flow\"\/><strong>ETFs Flow<\/strong><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">SoSoValue data shows that spot Bitcoin ETFs in the U.S. recorded <\/span><b>13 consecutive sessions of net outflows<\/b><span style=\"font-weight: 400;\">, with total outflows of about $4.37 billion during this streak. Ethereum ETFs faced similar pressure. The spot Ethereum ETF group recorded 17 consecutive sessions of net outflows, with total outflows of about $850 million during this period. This is a notable signal for a product group that once served as one of the most important buying forces for these assets in the current cycle.<\/span><\/p>\n<div id=\"attachment_162280\" style=\"width: 2750px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162280\" class=\"size-full wp-image-162280\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/06\/etf.jpg\" alt=\"Bitcoin &amp; Ethereum Spot ETF Net Inflow\" width=\"2740\" height=\"1536\"\/><\/noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162280\" class=\"lazyload size-full wp-image-162280\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/06\/etf.jpg\" alt=\"Bitcoin &amp; Ethereum Spot ETF Net Inflow\" width=\"2740\" height=\"1536\"\/><\/p>\n<p id=\"caption-attachment-162280\" class=\"wp-caption-text\">Bitcoin &amp; Ethereum Spot ETF Net Inflow. Source: SosoValue<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">As ETF flows reversed, the market lost a layer of institutional demand that had previously supported BTC and ETH during prior corrections.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Leverage_Pressure\"\/><b>Leverage Pressure<\/b><span class=\"ez-toc-section-end\"\/><\/h3>\n<p><span style=\"font-weight: 400;\">Pressure from the derivatives market amplified the decline. CoinGlass data shows that approximately <\/span><b>$7 billion<\/b><span style=\"font-weight: 400;\"> worth of crypto positions were liquidated during the week, of which about $5,7 billion came from long positions. This scale shows that most of the derivatives market was leaning toward bullish bets before BTC and ETH broke through short-term support zones.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Bitcoin dropped close to the $60,000 zone, leveraged long orders were forced to close, creating additional selling pressure on the market. For Ether, the pressure was even clearer because ETH was inherently weaker than BTC during this correction, causing ETH\u2019s weekly decline to be deeper than Bitcoin\u2019s.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Macro_and_Strategy_Context\"\/><b>Macro and Strategy Context<\/b><span class=\"ez-toc-section-end\"\/><\/h3>\n<p><span style=\"font-weight: 400;\">The U.S. jobs report for May increased pressure on risky assets. The Bureau of Labor Statistics stated that the U.S. economy added 172,000 jobs, while the unemployment rate held at 4.3%. This data caused investors to reduce expectations of early Fed policy easing, thereby creating additional pressure on crypto during the week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Strategy also became the focus after announcing the sale of 32 BTC during the May 26-31 period, bringing in $2.5 million with an average selling price of $77,135\/BTC, according to an <\/span><b>8-K filing<\/b><span style=\"font-weight: 400;\"> submitted to the SEC on June 1. The company still held 843,706 BTC as of the end of May, so this transaction was small in scale but notable in terms of signaling.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"FTX_Comparisons_Return\"\/><b>FTX Comparisons Return<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">The decline has pulled Bitcoin back to closely watched technical milestones and revived comparisons with the FTX period. Bitcoin Archive noted that this is Bitcoin\u2019s largest weekly percentage drop since the FTX collapse, while David Hoffman, co-founder of Bankless, pointed out that BTC is trading near its <\/span><b>200-week moving average.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to Hoffman, the last time BTC dropped significantly below this zone was after the contagion series of Terra, Three Arrows Capital, and FTX. However, he also argued that the current narrative around Strategy is not yet at the same \u201ctoxic\u201d level as the 2022 crisis.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Comes_Next\"\/><b>What Comes Next<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">The milestones to watch in the coming week are Bitcoin\u2019s ability to hold the<\/span><b> $59,000-$60,000 <\/b><span style=\"font-weight: 400;\">zone, whether ETF flows return, and U.S. inflation data ahead of the mid-June Fed meeting. If ETF flows stabilize and liquidations decrease, the market may view this move as a leverage reset after a sharp sell-off streak.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if BTC loses this support zone while ETF outflows continue, selling pressure could extend to higher-risk asset groups, especially Ether and major altcoins. In that scenario, comparisons to the deep weekly drops post-FTX will continue to be a psychological anchor for the market.<\/span><\/p>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/bitcoin-ether-face-worst-weekly-drop-since-ftx-collapse\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=bitcoin-ether-face-worst-weekly-drop-since-ftx-collapse\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) and Ethereum (ETH) are closing the first week of June 2026 with one of their sharpest downward moves since the FTX collapse, as capital flows out of spot ETFs and leveraged positions are heavily liquidated across the crypto market. BTC fell by approximately 16% over 7 days, while ETH lost nearly 20%. Selling [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/06\/0706-2.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/24114"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=24114"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/24114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/24115"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=24114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=24114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=24114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}