BTC and ETH extend weekly losses amid inflation fears and shifting investor sentiment away from safe-haven assets.
Bitcoin fell 4% to open at $62,257.81 on June 4, erasing all gains made since the start of the Iran war. The decline marks a shift from its recent safe-haven status to a risk-driven asset, pressured by prolonged conflict and inflation concerns.
BTC is down 13.9% over the past week and 39.3% year-over-year, while Ethereum dropped 2.5% to $1,740.70. Both cryptocurrencies have retreated from May highs, with BTC peaking at $82,000 before the selloff accelerated.
The all-time high for Bitcoin remains $126,198.07 from October 2025, while its lowest recorded value was $0.04865 in July 2010. Crypto-related stocks have also declined as sentiment sours.