Bitcoin is heading for a rare back-to-back quarterly loss, marking one of its toughest stretches in years. The cryptocurrency is trading near lows not seen since 2024. Even as stocks rallied on Monday, Bitcoin failed to join the recovery. Here is what is driving the slump and what investors should watch.
Bitcoin’s Quarterly Loss Explained
The price action tells a difficult story. The decline has been steady and broad. Bitcoin opened at $59,496.48 on Monday, June 29, 2026, 0.7% lower than Sunday’s opening price, while ethereum opened at $1,569.67, down 0.1%. Fortune
The weekly picture is worse. Bitcoin slipped below $60,000 over the weekend, trading around $59,940 on Sunday, down nearly 7% for the week. Fidelity
This puts Bitcoin on track for an unusual milestone, as it heads toward a second consecutive quarterly loss, something it has rarely done in its history.
What’s Driving the Decline
Several forces are weighing on Bitcoin at once. The biggest are macroeconomic. The decline was driven by continued outflows from US spot Bitcoin ETFs, a stronger US dollar, and hawkish signals from the Federal Reserve.
Money has also been flowing elsewhere. Investors have shifted capital toward AI-driven semiconductor stocks, while the broader tech selloff added further pressure on crypto markets. Fidelity
The list of headwinds is long. The drivers of the price declines have centered on outflows from Bitcoin ETFs, the potential for higher interest rates later this year, a stronger dollar, and serious investor interest in AI-related stocks. Fortune
Corporate Holders Feel the Pain
The slump is hitting companies that bet big on Bitcoin. One major holder is struggling. Strategy is heading for its 11th losing month in 12 as bitcoin weakness continues, with its shares having lost around 41% of their value in June.
A new pressure point has also emerged. A $4.4 billion supply overhang has emerged as institutional demand wilts. U.S. News & World Report
Signs of a Possible Bottom
Despite the gloom, some indicators suggest the selling may be overextended. Sentiment has turned extremely negative. Bitcoin is showing oversold indicators, with the sentiment index and RSI falling into “extreme fear” and “oversold” territory, suggesting an imminent return to normalcy. bea
Some longtime observers urge perspective. While this has been a difficult period for crypto prices, some analysts note that we’ve been through dips like this before, and bitcoin is still here. Fortune
What to Watch Next
The path forward depends largely on macro forces. A few factors stand out. First, watch whether Bitcoin ETF outflows stabilize, which would ease selling pressure. Markets will be watching whether ETF flows stabilize and demand improves in the third quarter, or if the weakness seen in the first half of the year continues. Fidelity
Second, Federal Reserve signals on interest rates remain critical, since higher rates pressure non-yielding assets like Bitcoin. Third, the strength of the dollar will play a role. For investors, the back-to-back quarterly loss is a sobering reminder of crypto’s volatility. As always, caution and careful research remain essential.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk.
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