Woofun AI reports that Bitcoin fell below $60,000 over the weekend, marking a cumulative weekly decline of approximately 7%. As the second quarter concludes, Bitcoin is projected to record a quarterly drop of about 12%, following a 22% decline in the previous quarter, which may establish a rare historical precedent of two consecutive quarters of negative performance.

Altcoins experienced more significant losses than Bitcoin. Ethereum decreased by roughly 9.5% in the past week, while Dogecoin fell 11.7%, HYPE dropped 10.6%, XRP declined 8.7%, Solana slipped 3.5%, and TRON saw a reduction of around 1.5%. Analysts attribute current market pressure to capital flowing into AI-driven semiconductor and storage chip sectors, persistent outflows from U.S. spot Bitcoin ETFs, the Federal Reserve’s hawkish stance, and elevated U.S. dollar index levels.