Bitcoin Plunges, Ethereum Hits Lowest Level Since April 2025 As Crypto Selloff Deepens
Bitcoin and Ethereum extended their sharp declines this week, capping one of the cryptocurrency market’s most difficult stretches in recent years as investors pulled billions of dollars from crypto investment products and reduced exposure to risk assets.
Bitcoin fell roughly 15% during the first week of June, dropping below $63,000, while Ethereum slid to its lowest level since April 2025. The declines came amid heavy selling across digital assets, with the broader cryptocurrency market also recording significant losses. According to The Economic Times, Bitcoin’s retreat has erased a substantial portion of the gains recorded earlier in the year, while Ethereum faced additional pressure from weakening institutional demand.
One of the main factors behind the selloff has been sustained withdrawals from spot cryptocurrency exchange-traded funds (ETFs). U.S. spot Bitcoin ETFs recorded 13 consecutive trading days of net outflows, with investors withdrawing more than $4 billion since mid-May, according to data cited by CoinDesk. The prolonged redemption streak has weighed on sentiment across the crypto market as fund managers sold underlying assets to meet withdrawals.
Institutional selling has added to the pressure. Strategy, formerly known as MicroStrategy and one of the largest corporate holders of Bitcoin, sold part of its holdings for the first time since 2022. The move drew significant attention from investors because Strategy has long been viewed as one of Bitcoin’s most committed corporate backers.
The selloff has also coincided with a broader shift in investor focus toward artificial intelligence-related stocks and high-profile public offerings. According to Reuters, growing enthusiasm surrounding AI investments and the upcoming SpaceX initial public offering has attracted substantial capital, drawing investor attention away from cryptocurrencies and other speculative assets. Markets have simultaneously been grappling with inflation concerns and higher energy prices linked to the conflict involving Iran, which has increased uncertainty across asset classes.
ETF data illustrates the scale of the pullback. CoinDesk reported that Bitcoin, Ethereum, Solana and XRP ETFs collectively experienced approximately $4.4 billion in outflows across 13 consecutive trading sessions. Bitcoin-focused products accounted for the majority of withdrawals, with BlackRock’s iShares Bitcoin Trust among the funds recording notable redemptions.
Additional pressure came from large-scale liquidations in crypto derivatives markets. Market data cited by CoinMarketCap showed that billions of dollars in leveraged positions were wiped out as Bitcoin broke through key price levels. Those forced liquidations accelerated selling activity and contributed to sharp intraday swings across major digital assets.
Despite the decline in prices, some blockchain indicators have remained relatively stable. The Economic Times reported that on-chain activity and long-term holder behavior have not reflected widespread panic selling. Market participants have continued to hold significant portions of their Bitcoin positions even as prices retreated sharply.
