Bitcoin Posts Worst Week Since FTX Collapse, Falls to $59,130 Amid Record ETF Outflows

According to Bybit's latest options review, Bitcoin fell from approximately $73,760 to a low of $59,130 during the week of 2–8 June 2026 — its worst single-week decline since the November 2022 FTX collapse — before recovering to around $63,000. Bybit attributes the decline to three simultaneous pressures: a stronger-than-expected US non-farm payrolls report reigniting rate-hike expectations, the SpaceX IPO scheduled for 12 June drawing liquidity from markets, and Strategy selling Bitcoin for the first time since 2022 to meet preferred-share dividend obligations.

US spot Bitcoin ETFs recorded their largest weekly net outflow on record at $1.7 billion, with $1.34 billion from BlackRock's IBIT, adding mechanical downward pressure. Ethereum's daily RSI fell to 12.78 — its most extreme oversold reading on record — while Bitcoin's daily RSI hit 15.45, reflecting market-wide capitulation.