Bitcoin plunges below $64K as $2T vanishes in worst week of 2026

• Bitcoin fell beneath $64,000, nearing critical support at $60,000 and marking its lowest price since February.
• The cryptocurrency posted a 13.5% weekly decline, echoing 2022 bear market conditions and erasing over $2 trillion in crypto market value since October.

On June 4, 2026, Cointelegraph reported that Bitcoin plunged below $64,000 and approached the $60,000 support level, marking its lowest point since February. The decline capped Bitcoin’s worst weekly performance in 2026, with a 13.5% loss driven by sustained seller dominance.

Analysts have pointed out that current market dynamics closely mirror the bear cycle seen in 2022. Persistent selling has overwhelmed buyers, and every attempted price rebound has been met by aggressive sell orders, according to Cointelegraph.

Since October 2025, the total value erased from the crypto market has surpassed $2 trillion, reflecting broad weakness and risk-off sentiment. Maintaining the 200-week simple moving average around $61,626 remains vital for Bitcoin’s price stability.

Meanwhile, the $60,000 support level continues to serve as a critical threshold. If Bitcoin fails to hold above $60,000, analysts note that further downside pressure is likely as sellers remain firmly in control.

As of June 4, 2026, 20:09 UTC, Bitcoin (BTC) is trading at $63,202.80, with a 3.19% decrease over the past 24 hours, according to CoinMarketCap.