Bitcoin Hits Lowest Level Since Oct 2024 as Crypto Market Loses $390B

Key Facts

1Bitcoin reached its lowest price level since October 2024 amid a sharp market downturn.

Amid escalating pressure on digital assets, Bitcoin reached its lowest price level since October 2024 during a broad market sell-off. According to reports, major cryptocurrencies including Bitcoin and Ether experienced significant drops, leading to a loss of approximately $390 billion in total crypto market capitalization. This downturn marks the market's worst weekly rout since the FTX collapse in 2022, signaling deep pessimism among retail and institutional investors.

This collapse occurs during a period of global market uncertainty, with Bitcoin down significantly from its March 2024 peak of over $73,000 (per Reuters data). Comparing peer performance, Ether has faced similar headwinds, losing more than 20% of its value in a single week alongside massive outflows from spot Bitcoin ETFs according to market data.

Looking ahead, Bitcoin remained at critical levels as of the close on June 12, 2026, with traders closely watching psychological support levels near the October 2024 lows. According to the economic calendar, investors are awaiting upcoming US inflation data next week, which could dictate the Federal Reserve's interest rate path and significantly impact risk appetite across the crypto sector.