Bitcoin rebounds above $63,000 after worst week of 2026

Bitcoin Rebounds Above $63,000 After Worst Week of 2026

Bitcoin clawed back above $63,000 on Monday after plunging to a cycle low of $59,100 last week — a decline of roughly 19% in seven days that marked the cryptocurrency’s steepest weekly drop since the collapse of FTX in November 2022. The rebound, which briefly carried prices near $63,700, was fueled by $504 million in short liquidations — the largest such flush since late April — as bearish traders were caught offside by the recovery.bitcoin

Strategy Resumes Buying as Saylor Doubles Down

The bounce coincided with a fresh purchase by Strategy, which disclosed on Monday that it had acquired 1,550 bitcoin for approximately $101 million. The buy came just one week after the company sold 32 BTC — its first sale since 2022 — to fund preferred stock dividends. Strategy now holds more than 845,000 bitcoin, and the renewed accumulation signal appeared to steady market nerves.beincrypto

Geopolitics also played a role. President Donald Trump said over the weekend that the United States and Iran were “very close” to a deal to end hostilities, according to Reuters. Traders initially treated the remark as a reduction in risk premium, helping both equities and crypto recover from their late-week lows. That optimism was tested on Sunday when Israel struck military targets in Iran, though Trump maintained the attacks would not derail negotiations.crypto

ETF Outflows and Fragile Sentiment

Despite the relief rally, structural headwinds remain. BlackRock’s iShares Bitcoin Trust ↘2.04% (IBIT) led $326 million in spot bitcoin ETF outflows on June 5 alone, contributing $214 million of the total. Bitcoin ETFs have now bled $4.4 billion over 13 consecutive trading days, according to data tracked by news.bitcoin.com.kucoin

QCP Capital warned in a June 3 note that bitcoin was “unable to reclaim key momentum levels” and that the selloff — compounded by macro pressures including stronger-than-expected U.S. jobs data — could have further to run. More than half of all bitcoin in circulation now sits at an unrealized loss, a threshold that has historically coincided with major bear market bottoms but does not guarantee one.panewslab

Recovery or Dead-Cat Bounce?

At current levels around $63,000, bitcoin trades roughly 50% below its October 2025 all-time high of $126,198. The 200-week moving average near $62,800 is now the key dividing line: holding above it keeps $64,000 within reach, while a failure would refocus attention on $60,000 and the $59,100 low. With open interest rising into the decline, analysts cautioned that another leg lower could trigger fresh long liquidations, keeping the market on edge.cryptopolitan