Bitcoin hit a 50% crash, showcasing its worst weekly performance in nearly four years, tumbling 15% to $62,500.
This extends the brutal decline of crypto, as bitcoin tumbles to $62,500.
This sell-off, which has cost bitcoin ETFs more than $2.7 billion in just one week, shows a major shift in investment funds. Speculative capital is moving away from crypto to embrace booming shares in artificial intelligence companies and mega IPOs in the works, like that of SpaceX.
On top of this, there was added agony when big-name corporate crypto firm Strategy made its first-ever sale of some Bitcoin holdings in 2022. Privacy coin Zcash fell victim to another downfall due to an AI-enabled security check that revealed a possible flaw for fake Zcash coins.
Not only Bitcoin, but other cryptocurrencies, including Ether, sank 8% to $1,625. This marks the lowest level of Ether since April 2025.
This is mainly due to a primary shift of interest towards artificial intelligence stocks, with US semiconductor stocks surging 170% over the past year.
Investors pulled $2.7 billion from Bitcoin EFTs in a single week. The trend is further fueled by IPOs of major industry giants, including SpaceX, Anthropic, and OpenAI, which are luring retail money away from crypto.
However, some executives remain optimistic, calling this drop a significant opportunity to buy the cryptocurrency. But for now, the Bitcoin hit its lowest level since September 2024.
2026-06-05 18:53:00
