BTC, ETH, SOL price news: Bitcoin has reached a deep bear-market valuation zone
Bitcoin is hovering near its 200-week average, a level usually seen only in late bear markets, and sits in the bottom 10% of its historical valuation range. Sentiment is extremely weak, with the Crypto Fear and Greed Index at 9, suggesting most price-sensitive sellers may already have capitulated, though bottoms often involve months of sideways trading before a durable recovery. BTC briefly fell below $60,000 this week and traded around $62,623, while ETF outflows continue to drain demand. Other major cryptocurrencies bounced modestly but remain down on the week. Macro conditions are also unfavorable: U.S. inflation rose 4.2% year over year in May, boosted by energy costs, while global stocks slid, oil rose, and central banks face pressure to keep rates elevated. Regulatory optimism has also faded, adding to the bearish backdrop.
