Bitcoin holders bleed $2.4B as price breaches key support
Bitcoin has fallen below $60,000, reaching an intraday low of $59,743, as the broader crypto market experiences a significant downturn. Over the past seven days, Bitcoin has declined by 19.3%, with total crypto market value erased by approximately $200 billion. Long-term holders have realized substantial losses, with $2.4 billion in losses recorded over 48 hours ending June 5, 2026, as the price breached the Short-Term Holder Realized Price. Factors contributing to the slump include ETF outflows, Mt. Gox creditor repayments, and macroeconomic pressures. Ethereum has also fallen below $1,700, and XRP is nearing $1.10 amid selling pressure.