Friday, June 5, 2026 · Covering Thursday June 4 session
Summary
Bitcoin kept falling on Thursday June 4, sliding below 62,000 dollars to its lowest level since February and extending a brutal three-day slide. It is now down around 14% on the week and more than 50% below the record it set last October. The drop dragged the whole market lower, and the mood is about as fearful as it has been all year.
The fall has reached a symbolic milestone: Bitcoin has dropped below the average price Strategy paid for its huge holdings, the first time in over two years. The company, famous for buying and holding Bitcoin, is now sitting on a paper loss of more than 11 billion dollars, and its founder has been playing it down. That a flagship buyer is underwater says a lot about how far this slide has run.
Underneath, the same forces keep grinding. Big investment funds have pulled money out for almost two weeks straight, the longest stretch on record, and as prices fall, traders who borrowed to bet on a rise are forced to sell, speeding the drop. The altcoins fell harder still, with Zcash crashing more than 40% after a serious flaw was found in its code. The 60,000 mark is the line everyone is now watching.
