Crypto Market Last Week

Early June saw a strong and continuous inflow of capital into the cryptocurrency market through Bitcoin ETFs over many days. As of June 10th, there had been 18 consecutive days witnessing a surge of investment into the market. However, despite the abundant capital supply, Bitcoin’s price movement was unfavorable for investors.

At the beginning of the week, Bitcoin’s price rose from $67,600 to $71,900, but as the week neared its end, it was negatively impacted by unfavorable macroeconomic news from the United States, causing a sharp decline to $68,500. Currently, it is trading around $69,500. This steep price drop resulted in many altcoins losing 20-30% of their value, causing significant losses for investors.

Despite the adverse news severely impacting the market, especially altcoins, there were still positive signals. BNB and TON officially hit new all-time highs, while many projects began implementing airdrop programs for their communities.

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