Bitcoin Falls 17.3% During Worst Week Since FTX Collapse, Erasing $390 Billion From Crypto Markets

According to Bloomberg, during the week ending June 6, Bitcoin fell 17.3% and Ethereum dropped 22%, marking the steepest weekly declines for both assets since November 2022 when the FTX collapse triggered a market panic. The selloff wiped roughly $390 billion from the total crypto market, with approximately $7 billion in leveraged positions liquidated.

Investors pulled about $5.5 billion from U.S. spot bitcoin ETFs over 13 consecutive days of net outflows, draining a key source of institutional demand that had supported prices throughout the cycle.