Six consecutive days of selling have pushed Ethereum down 8% on the day, 18% on the week, 24% on the month, and 40% over the past year, with $286M in 24-hour liquidations running 86% long - confirming forced selling is amplifying spot market pressure rather than creating it.

Peter Schiff posted on June 3 that Bitcoin has too much complacency to be near a bottom and predicted a fall below $20,000 after $50,000 breaks. The same week, Santiment confirmed crowd sentiment hit its most bearish reading in the entire measured period - which historically is not where complacency lives.

Jim Ferraioli, Director of Digital Currencies Research at Charles Schwab, told Bloomberg that the firm's entire investment framework for Bitcoin is anchored to miner production costs, a metric that places the current price dangerously close to the cost floor for the most efficient producers in the world.

Bitcoin is trading at $62,377 at time of writing, sitting on and breaking beneath the lower channel line of the ascending channel that has defined its structure since 2022, with the June monthly close now one of the most important data point for Bitcoin's long-term chart structure.

The cryptocurrency market correction following the 2025 bullish cycle has provided a stark reminder of digital asset volatility. To assess the structural impact of this market shift, in this report we measure the precise percentage drawdowns from the 2025 highs of seven large cryptocurrencies.

On a day when $1.7 billion in leveraged positions were forcibly liquidated across the crypto market, Worldcoin quietly crossed $1 billion in trading volume and added 29% to its price. Bitcoin dropped to $66,000. Ethereum broke below $2,000. WLD went the other direction entirely.

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