The token has fallen करीब 7% over the past week, with altcoins posting steeper declines. Both Bitcoin and Ether are set to close the second quarter in negative territory, marking a rare streak of back-to-back losses in the first half—an outcome that runs counter to historical norms.
Bitcoin slipped below the $60,000 mark over the weekend, trading around $59,940 on Sunday. It is down 0.6% in the past 24 hours and nearly 7% for the week, according to CoinDesk data, as the quarter draws to a close.
Altcoins once again led the downside. Ether dropped 9.5% over the week to roughly $1,567, while Dogecoin fell 11.7% to $0.073. Hyperliquid’s HYPE declined 10.6%, and XRP lost 8.7% to $1.04. Solana showed relative strength, slipping 3.5% to $70, while Tron was the most resilient, down just 1.5%.
Throughout the week, the broader market leaned on Bitcoin’s relative stability as higher-risk assets saw sharper sell-offs.
With just days left in the quarter, the market is wrapping up a weak first half. Bitcoin is on track to post a roughly 12% loss in Q2 after falling about 22% in Q1, based on Coinglass data. Ether has fared worse, dropping around 25% in the second quarter following a 29% decline in the first.
Two consecutive losing quarters to start the year is an uncommon pattern for both assets, having occurred only twice before in Bitcoin’s history. Traditionally, the second quarter has been one of Bitcoin’s stronger periods, making this deviation particularly notable.
The underlying drivers remain unchanged. Capital has rotated into semiconductor and memory-chip stocks amid the ongoing AI boom. Meanwhile, continued outflows from U.S. spot Bitcoin ETFs, a hawkish Federal Reserve under Chair Kevin Warsh, and a U.S. dollar hovering near a seven-month high have weighed on crypto markets. Additional pressure came from a tech stock sell-off earlier in the week.
As the third quarter approaches, traders will be watching whether ETF outflows ease and demand improves, or if the weakness seen in the first half extends further.
