Bitcoin fell to its lowest weekly close since the second half of 2024, shedding over 8% in seven days. The slide pushed BTC below $62,000 on Monday, June 9, 2026, before a bounce off the $60,000 support level.
RSI divergence hints at exhaustion
The weekly relative strength index is showing higher lows while price prints lower lows — a divergence that last appeared before Bitcoin's recovery from the 2022 bear market bottom. That pattern often signals selling pressure is losing steam, even as the headline numbers look grim. It's not a guarantee of a reversal, but traders are watching whether that divergence resolves to the upside or gets invalidated by another leg down.
Biggest exchange founder speaks up
Binance founder Changpeng Zhao posted on X that “Bitcoin won't be dead for too long” and “Don't panic.” The messages came as the broader market slumped and total crypto market cap dropped to levels last seen in early 2026. CZ's posts don't move price the way they once did, but they still get retweeted heavily in moments like this.
Where Bitcoin sits next
Bitcoin has bounced from $60,000 each time it was tested in recent days. The next resistance band sits at $65,000–$66,200, with a heavier ceiling between $67,000 and $77,000. If $60,000 gives way, sellers could target the $53,000–$55,000 range — a zone that hasn't been tested since last year.
Altcoins follow the lead
The pain isn't limited to Bitcoin. Ethereum is down nearly 14% over the past seven days, trading around $1,640. XRP shed 6% to $1.13, while Solana gave up 14% to trade near $64. For now, the whole market is watching whether $60,000 holds again or the selling intensifies into a deeper correction.
