Bitcoin sits about 51% below its all-time high as selloff tests $60,000

Bitcoin fell to around $61,000 after briefly dipping below $60,000, pushing more than half of circulating supply into loss while Polymarket traders raised June odds of a drop to $55,000.

BTC

49d ago

Fact Check

Bloomberg confirms Bitcoin trading around $61,000, down ~50% from record highs, below its 200-week moving average, with over half of circulating supply at a loss — matching nearly every element of the claim. The Block corroborates via the same K33 report, confirming a brief drop below $60,000 and the break below the 200-week MA. The only minor discrepancy is the '51%' figure: sources state '~50%,' though 50-51% is consistent given the ATH (~$122K-$125K) versus a ~$61,000 price. All structural elements are supported by primary reporting.

Summary

Bitcoin is trading around $61,000 after briefly falling below $60,000, leaving it roughly 50%-51% below its all-time high and below its 200-week moving average. Bloomberg reported the decline has pushed more than 50% of Bitcoin’s circulating supply into loss-making territory for the first time since late 2022, up from about 30% a month earlier. On June 10, Polymarket raised the implied probability of Bitcoin falling to $55,000 in June to 36% from 4% on June 2, while still showing a 57% chance of a rebound to $65,000 this month and a 16% chance of a deeper drop to $50,000. CryptoQuant said the current drawdown is milder than in past Bitcoin cycles, while ProCap Financial Chairman and CEO Anthony Pompliano said the more than 50% slide from last October’s peak could be one of the healthiest bear markets in Bitcoin’s history, though he cautioned a bottom may only be gradually approaching.

Terms & Concepts

200-week moving average: A long-term price trend indicator based on the average closing price over 200 weeks.
circulating supply: Coins currently available in the market.
Polymarket: A prediction market for event-based trading.