Bitcoin falls below $60,000, and is set to record a rare second consecutive quarterly decline.

Shenchao TechFlow news, June 28, according to CoinDesk. Bitcoin fell below $60,000 over the weekend; on Sunday, the trading price was about $59,940. In the past 24 hours, it fell 0.6%, and for the week it is down nearly 7% overall. Altcoins led the decline: Ethereum is down 9.5% this week to about $1,567, Dogecoin is down 11.7% to $0.073, Hyperliquid’s HYPE is down 10.6%, and XRP is down 8.7% to $1.04. Solana performed relatively better, at $70, down 3.5%. TRON was the most resilient, only down 1.5%.

The report said that with only two days left, this weekend marks the end of a weak first half of the year. According to Coinglass data, Bitcoin is on track to end the second quarter down by about 12%, after having already fallen about 22% in the first quarter. Ethereum performed worse, down about 25% in the second quarter, after falling 29% in the first quarter. The report noted that two consecutive quarters of decline at the start of the year is unusual for both, occurring only twice in Bitcoin’s history. Bitcoin’s second quarter has historically been one of its stronger periods, with an average gain recorded over the past decade.

The report’s analysis said the driving factors are consistent with those seen this month: amid the ongoing AI boom, capital is rotating toward semiconductor and storage chip stocks. Meanwhile, sustained pressure on the crypto market continues from outflows from U.S. spot Bitcoin ETFs, a more hawkish Federal Reserve under new Chairman Kevin Warsh, and a U.S. dollar near a seven-month high; earlier this week’s sell-off in technology stocks further intensified the pressure.