Bitcoin closed the week of June 5, 2026 down by almost 20%, its highest 
single-week percentage decline since the collapse of FTX in November 2022. The 
last time the market saw a candle this red, it was during the cycle bottom. 
This time, however, the current setup is more complicated, as Bitcoin is 
reacting to a combination of institutional selling pressure, ETF weakness, and 
fading confidence after a failed recovery attempt above $82,000. Related 
Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For 
Confirmation Bitcoin’s Drop Brings Back The FTX Comparison Bitcoin&#8217;s price 
action in the first week of June was one of its most notable weeks in history. 
BTC opened the week around $73,760, briefly pushed as high as $74,092, and 
then fell to a low of about $59,130, according to data from TradingView. The 
move translates to a decline of about 19.5% from the weekly open to the low 
and 20.1% from the high to the low, making it Bitcoin’s worst weekly 
percentage drop since the FTX crash in 2022, when the price fell by roughly 
22% in a single week. However, there is also a note about where the candle is 
showing up in the market structure. During the FTX collapse, the violent 
weekly move came after months of selling pressure and ended up happening close 
to the final bear-market bottom. The current decline is also appearing after 
Bitcoin has already lost a major portion of its value from the October 2025 
all-time high above $126,000. Bitcoin Price Chart. At the time of writing, 
Bitcoin is trading at $62,150, placing it about 50.7% below that peak. The 
similarity does not guarantee that the market has reached a bottom, but it 
does raise the possibility that the latest weekly price crash is moving into 
the kind of final-washout zone that followed FTX’s crash. That angle is being 
overlooked by many analysts, especially as several forecasts still point to a 
prolonged bear market that could stretch into at least Q4 2026 Bitcoin Enters 
Extreme Undervaluation Crypto analyst Darkfost noted that Bitcoin has now 
fallen below the 4% quantile on the Bitcoin Porkopolis Power Law Quantile 
Regression model. The chart places Bitcoin’s current quantile around 3.9%, 
meaning the asset is trading in a zone that has appeared during less than 4% 
of its historical price action relative to its long-term growth curve. The 
Power Law model is a long-term valuation model that can also be used for a 
reversal signal. Every prior instance in which the quantile oscillator reached 
this level, visible in the chart across 2015, 2018/2019, and the 2022 bottom, 
preceded notable multi-year recoveries. Bitcoin Power Law Regression. Source: 
@Darkfost_Coc On X Related Reading: Bitcoin Price Plunges To $59K, Sparking 
Fears Of Deeper Decline Bitcoin can stay undervalued for longer than traders 
expect, especially if the momentum is weak and there&#8217;s forced selling. Still, 
the metric does show that Bitcoin is now much closer to the lower regression 
bands than the overheated upper bands in previous cycle peaks. Featured image 
from Pexels, chart from TradingView

Bitcoin closed the week of June 5, 2026 down by almost 20%, its highest single-week percentage decline since the collapse of FTX in November 2022. The last time the market saw a candle this red, it was during the cycle bottom. This time, however, the current setup is more complicated, as Bitcoin is reacting to &#8230;

Bitcoin’s Worst Week Since FTX Raises The Question: Is The Bottom Already In?

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Bitcoin’s Worst Week Since FTX Raises The Question: Is The Bottom Already In?

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