Bitcoin has just signed its worst week of 2026. Having fallen to $59,100, the first crypto triggered a wave of liquidations of $1.75 billion and sent more than half of the BTC supply into latent loss. This rarely observed combination of signals revives a central question for investors: is the market approaching a historic low point or are we witnessing the start of a new phase of weakness?
In brief
- Bitcoin fell as low as $59,100, recording its worst weekly performance since the start of 2026.
- The correction caused more than $1.75 billion in liquidations and resulted in the forced closure of hundreds of thousands of positions.
- More than half of the Bitcoins in circulation are now held at latent loss, a rarely observed on-chain signal.
- This indicator has historically appeared during major Bitcoin market troughs, fueling speculation about a possible low point.
Bitcoin records its worst week of the year
Bitcoin plunged to $59,100 on June 5, marking its lowest level since the start of the year and its worst weekly performance. Indeed, the asset underwent a particularly brutal correction which triggered a chain reaction across the entire crypto market. The decline affected investors most exposed to leverage, accelerating selling movements.
The extent of the dropout appears clearly through several indicators :
- $59,100: the lowest level reached by bitcoin in 2026;
- 19.3% drop over seven days;
- 26.8% decline over thirty days;
- 1.75 billion dollars in liquidations recorded in twenty-four hours;
- 351,233 positions were liquidated across the entire crypto market.
These figures illustrate the violence of the correction and testify to the importance of the speculative positions which were still present on the market before the fall. The entire crypto ecosystem has been affected.
A historical indicator resurfaces on the Bitcoin network
Beyond the price correction, on-chain data is particularly monitored by analysts. More than half of all bitcoins currently in circulation are now believed to be held at a loss. In other words, a majority of holders own BTC whose market value is lower than their acquisition price. This phenomenon constitutes a marker rarely observed during the history of the network.
Such a threshold has coincided with each of the major lows of previous bitcoin bear markets. Without constituting a guarantee of a turnaround, this indicator is often interpreted as reflecting an advanced phase of capitulation, during which a significant proportion of investors find themselves under pressure.
What happens next will now depend on several variables: the evolution of inflows to the market, macroeconomic conditions and the ability of bitcoin to preserve its current support levels. While some observers see this situation as a signal historically associated with cycle lows, others believe that caution remains in order until the tensions weighing on the financial markets have found a lasting solution. After this particularly turbulent week, the bitcoin market is entering a decisive phase of its year.
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