Bitcoin closed the week of June 5, 2026 down by almost 20%, its biggest one-week decline since the fall of FTX in November 2022. The last time the market saw this red candle, it was during the bottom cycle.
But this time, The current implementation is very difficult, as Bitcoin is doing a merger of institutions selling pressure, ETF weakness, and confidence fading after a failed recovery attempt above $82,000.
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Bitcoin’s Decline Brings Back FTX Comparisons
Bitcoin price in the first week of June it was one of his many famous weeks in history. BTC opened the week at around $73,760, briefly pushed up to $74,092, and then fell. a low of about $59,130according to data from TradingView.
The move means a decrease of about 19.5% from the open week to a decrease of 20.1% from the top to the bottom, making Bitcoin the lowest weekly since the crash of FTX in 2022, when the price fell by about 22% in one week.
However, there is also a note about where the candle appears in the market. During the fall of FTX, the violent weekly move came after months of selling pressure and ended up near the end of the bear market. The current decline is also evident after Bitcoin he has already lost a great one portion of its value from October 2025 higher than $126,000.
At the time of writing, Bitcoin is trading at $62,150, putting it about 50.7% below that peak. This similarity does not guarantee that the market has reached the bottom, but it does allow for a breakdown of the recent weekly prices. moving inward kind of the last cleanup that followed the FTX accident. That aspect is being ignored by many scholars, especially as several prophecies they still point to the long term bear market that may extend to Q4 2026
Bitcoin Enters All-Time Low
Crypto Expert Darkfost realized that Bitcoin it has now fallen below the 4% quantile on the Bitcoin Porkopolis Power Law Quantile Regression model. The chart puts Bitcoin’s current growth rate at around 3.9%, which means that the stock is trading in an area that has seen less than 4% of its historical prices compared to its recent growth.
The Power Law model is a long-term statistical model that can also be used as a reversal indicator. All previous periods when the quantile oscillator reached this level, visible on the chart in 2015, 2018/2019, and 2022 below, led to multi-year recovery.
Bitcoin Power Law Regression. Source: @Darkfost_Coc On X
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Bitcoin may be cheaper for longer than traders expect, especially if the uptrend is weak and selling is forced. However, these metrics show that Bitcoin is now much closer to the lower levels than the heated levels of previous peaks.
Image taken from Pexels, chart from TradingView
