Crypto started the week steady and ended it near the lows of the cycle. Bitcoin entered Monday consolidating above $64,000. By Friday it traded near $59,800. Ethereum fell harder, sliding from roughly $1,746 to $1,567. The Crypto Fear and Greed Index told the story best: it dropped from 23 to 13 in five sessions, deep into extreme fear.
No single shock drove the move. A hot inflation print, a sixth straight week of ETF outflows, an AI driven stock rout, and stalled crypto legislation stacked up together. Here is how the week played out.
Monday: a quiet start with a regulatory twist
Bitcoin opened the week in a tight $63,200 to $64,500 range on elevated volume. Ethereum quietly outperformed, holding near $1,746. The mood was cautious rather than fearful.
The day’s main headline came from Washington. The US Senate passed the 21st Century Road to Housing Act, which included a ban on a Federal Reserve retail CBDC through 2030. The crypto industry welcomed the CBDC language. President Trump then canceled the planned signing ceremony, saying he would not sign until Congress passes a separate voting measure. That move added fresh uncertainty to an already crowded legislative calendar.
Midweek: the selling accelerates
The tone shifted hard by Tuesday and Wednesday. A roughly 10 percent crash in AI linked stocks dragged the Nasdaq lower and pulled crypto with it. South Korea’s Kospi fell sharply, adding to the global risk-off mood. Bitcoin slid back toward its 200-week moving average near $62,457, a level traders watch as a historical floor.
Liquidations piled up. One session saw more than $700 million wiped out across leveraged positions, with the large majority coming from longs. Stablecoin supply also kept shrinking, a sign that fresh buying power was leaving the market rather than entering it.
Thursday: hot inflation seals the mood
The week’s marquee data point landed Thursday. Core PCE, the Fed’s preferred inflation gauge, rose 3.4 percent year over year in May. That was the highest reading since October 2023. Headline PCE accelerated to 4.1 percent, the hottest in more than three years.
The print made the case for rate cuts harder to defend. It reinforced the hawkish message from new Fed Chair Kevin Warsh, who held rates steady last week but penciled in further hikes for 2026. A stronger dollar and higher yields followed, both classic headwinds for crypto.
Geopolitics added to the strain. Iran’s Revolutionary Guard attacked a Singapore flagged cargo ship in the Strait of Hormuz, testing the durability of last week’s ceasefire.
Friday: cycle lows and a major options expiry
By Friday Bitcoin traded near $59,800 and Ethereum near $1,567, both at their weakest of the cycle. The Fear and Greed Index bottomed at 13.
A roughly 10.5 billion dollar Bitcoin options expiry hit the same day. Bitfinex analysts called it a critical reset, warning that the $60,000 put wall acting as a floor could disappear afterward, leaving the price exposed if spot demand stayed weak.
The institutional picture: outflows, but accumulation too
ETF flows stayed negative for a sixth consecutive week, with cumulative June redemptions reaching roughly 5.94 billion dollars. Spot ether funds lagged bitcoin funds throughout. The Ethereum Foundation added to the unease, confirming a 20 percent staff cut and a leaner operating model.
Not all the institutional news was bearish. Corporate treasuries kept buying the dip. Strategy added 520 BTC and Strive added 759 BTC near $65,850. On Friday, BitMine joined the Russell 1000 index as the largest Ethereum treasury company, a move that puts a crypto heavy stock in front of trillions of dollars in benchmarked fund assets.
What to watch next week
The setup stays fragile. Bitcoin’s mining difficulty adjusts on June 27, a date some analysts watch for signs of a bottom. The CLARITY Act faces a narrowing window before the Senate’s summer recess, with Polymarket pricing 2026 passage near 48 percent. And the market will look for any sign that ETF outflows are finally exhausting themselves.
For now, the trend points down and leverage remains elevated. Patience and risk management matter more than prediction in a week like the one just past.
Disclaimer: This article is for informational and educational purposes only. It does not constitute financial, investment, or trading advice. Crypto assets are volatile and carry significant risk. Always do your own research and consider your risk tolerance before trading. Read more on Millionero Blog.
Trade on Millionero exchange.