Bitcoin’s 20% June crash looks even deadlier on the charts. Here’s why
CoinDesk 2026-07-01 07:42:49
Context: Bitcoin experienced a significant 20% drop in June, falling below $60,000, which marks its worst monthly performance since June 2022. This decline is further emphasized by the monthly chart, which shows a rare and bearish candlestick pattern, indicating overwhelming bearish dominance throughout the month. The appearance of this pattern signals decisively bearish sentiment, consistent with analysts' predictions of a deeper slide.
Key Facts
- Bitcoin fell by 20% in June to below $60,000, marking its worst monthly performance since June 2022.
- The June monthly candlestick chart shows a solid red brick with virtually no wicks, indicating complete and uninterrupted bear dominance throughout the month.
- The absence of wicks in the June candlestick pattern, known as a "Marubozu," demonstrates a rare and decisive bearish sentiment, with price barely deviating from a straight line down.
- The appearance of this candlestick pattern on the monthly chart signals a deeper slide and an eventual bottom in the $48,000 to $55,000 range, consistent with recent analysts' predictions.
- As of the writing, bitcoin traded near $58,600, according to CoinDesk data.