Bitcoin Falls Below $60,000 Ahead Of Rare Quarterly Loss

Bitcoin dipped under $60,000 over the weekend, trading near $60,340 on Sunday, down 0.4% in 24 hours and nearly 7% on the week.

Altcoins fell even harder. Ether dropped 9.3% to about $1,568, dogecoin lost 11.7%, Hyperliquid’s HYPE fell 10.6%, and XRP slid 8.7% to $1.04. Solana held up better at $70.

A Rare Back-To-Back Losing Quarter

With just two days left in the quarter, Bitcoin is on track to close Q2 down about 12%, following a 22% drop in Q1. Ether has done worse, down roughly 25% in Q2 after a 29% slide in Q1.

Two consecutive losing quarters to start a year has only happened twice in Bitcoin’s history, breaking from its usual pattern since Q2 has historically been one of its stronger stretches over the past decade.

What’s Driving The Slump

Capital has rotated heavily into semiconductor and memory chip stocks amid the AI boom, pulling money away from crypto. Meanwhile, outflows from US spot Bitcoin ETFs, a hawkish Fed under new Chair Kevin Warsh, and a dollar near seven-month highs have all weighed on the market. A tech-stock selloff earlier in the week added further pressure. Traders are now watching whether ETF outflows ease into Q3 or whether the weakness continues.