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BlockBeats news, on June 5, Bitcoin fell below $64,000 again after the US stock market opened on Thursday, with a weekly decline of 13.5%, marking its worst single-week performance since 2026. BTC earlier dropped to its lowest level since early February and retested the 200-week simple moving average. Trader Daan Crypto Trades stated that BTC continued to decline after experiencing a bearish retest in the low $80,000 range and has been in a larger downtrend since October last year. He believes that the current market focus has shifted to whether the $60,000 level can hold as support, and the low $60,000 region combined with the 200-week moving average will become a key area for bulls to defend. Trading resource The Kobeissi Letter pointed out that since October 2025, the total crypto market capitalization has evaporated by more than $2 trillion. In the short term, commentator Exitpump stated that each rebound in a certain exchange's perpetual contract order book encounters selling orders; whenever buying starts to push up the price, more supply appears above, and currently, sellers still hold control. Trader Rekt Capital stated that on June 13, 2022, BTC touched the 200-week moving average during the bear market pullback; and in the 2026 bear market, BTC almost touched this moving average again on nearly the same date four years later. He considers BTC's cyclical performance to be "incredible."

Glonghui June 5th｜The Nasdaq 100 Index has narrowed its decline to 0.5%. Among its constituents, Broadcom is still down by 14.5%, Micron Technology is down 6.1%, Lumentum is down 2.3%, Tesla is down 1.1%, while Google A is up 3.5%, and Marvell Technology/Marvell, Doordash are up 3.9%.

Arthur Hayes discussed topics such as retail investor participation, AI-related economic risks, and how the privacy narrative is driving ZCash, during an interview. (Decrypt)