Bitcoin Closes June Below $20K, BlockFi Acquisition Rumors Spiral, MSTR Buys the Dip: This Week's Crypto Recap

Bitcoin Closes June Below $20K, BlockFi Acquisition Rumors Spiral, MSTR Buys the Dip: This Week’s Crypto Recap

It’s been another seven days of declines and choppy price action for the cryptocurrency market, which ended up losing around $50 billion of its total capitalization. Bitcoin closed its worst quarter in a decade, whereas altcoins bleed out. Let’s unpack. It’s also worth noting that this month’s candle close was important because it’s also the end of the quarter. As many expected, this propelled serious volatility and BTC’s price shot up towards $21K but failed to sustain and is once again found below the critical level of $20,000 – the previous all-time high from the bull cycle of 2017-2018. Ultimately, Bitcoin closed the quarter below $20K and charted its worst quarterly performance in a decade.

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