{"id":3617,"date":"2026-06-04T22:17:11","date_gmt":"2026-06-04T22:17:11","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=3617"},"modified":"2026-06-04T22:17:11","modified_gmt":"2026-06-04T22:17:11","slug":"crypto-market-extends-selloff-as-bitcoin-falls-below-62k-and-altcoins-suffer-heavy-losses","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/06\/04\/crypto-market-extends-selloff-as-bitcoin-falls-below-62k-and-altcoins-suffer-heavy-losses\/","title":{"rendered":"Crypto Market Extends Selloff as Bitcoin Falls Below $62K and Altcoins Suffer Heavy Losses"},"content":{"rendered":"\n
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The cryptocurrency market remains under intense pressure, with Bitcoin dropping to a new multi month low and major altcoins posting even steeper losses. The latest wave of selling has wiped out roughly $150 billion from the overall crypto market, pushing total market capitalization closer to $2.25 trillion.<\/p>\n\n\n\n

Bitcoin Hits Lowest Level in Four Months<\/strong><\/p>\n\n\n\n

Bitcoin\u2019s decline, which began in late May, accelerated sharply in early June. After trading above $73,000 on June 1, the leading cryptocurrency entered a sustained downtrend as sellers regained control of the market.<\/p>\n\n\n\n

The asset first lost support at $70,000 before continuing its slide throughout the week. On Thursday, Bitcoin briefly fell to just above $61,000, its lowest level since the market downturn experienced in February.<\/p>\n\n\n\n

Although BTC managed to recover some ground following the drop, the rebound was short lived. After climbing back toward $64,000, the cryptocurrency encountered renewed selling pressure and was unable to sustain the recovery. At the time of writing, Bitcoin remains below $63,000 and is down approximately 14% over the past seven days.<\/p>\n\n\n\n

The decline has reduced Bitcoin\u2019s market capitalization to around $1.26 trillion, while its share of the overall crypto market has fallen to 55.6%, representing a drop of more than two percentage points over the past week.<\/p>\n\n\n\n

Altcoins Continue to Underperform<\/strong><\/p>\n\n\n\n

The broader altcoin market has fared even worse, with many leading digital assets recording significant daily losses.<\/p>\n\n\n\n

Ethereum fell to around $1,750 after touching a 14 month low earlier in the day. Solana dropped below $70 following a decline of roughly 9%.<\/p>\n\n\n\n

XRP briefly slipped under $1.15 before staging a modest recovery, while Cardano fell below $0.19, reaching levels not seen in years.<\/p>\n\n\n\n

BNB also came under pressure, trading below $600 after losing around 7% of its value. Other major cryptocurrencies, including Dogecoin, Chainlink, Avalanche, and Zcash, remained firmly in negative territory.<\/p>\n\n\n\n

One of the few bright spots in the market was Worldcoin, which recorded an impressive gain of around 11% despite the broader downturn.<\/p>\n\n\n\n

Among the largest losers of the day were NEAR Protocol, Toncoin, and Render, each of which declined by as much as 18% within 24 hours.<\/p>\n\n\n\n

Market Value Shrinks Further<\/strong><\/p>\n\n\n\n

The ongoing selloff has significantly reduced the value of the digital asset market. Over the past day alone, total cryptocurrency market capitalization has fallen by approximately $140 billion, leaving the sector valued at less than $2.27 trillion as investors continue to navigate heightened volatility and risk aversion.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market remains under intense pressure, with Bitcoin dropping to a new multi month low and major altcoins posting even steeper losses. The latest wave...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3617","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=3617"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3617\/revisions"}],"predecessor-version":[{"id":3619,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3617\/revisions\/3619"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=3617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=3617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=3617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}