Bitcoin

Russell

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Rekt

<a rel="noopener noreferrer nofollow">Bitcoin </a>(BTC) is testing the $60,000 mark another time, and traders are split on whether the largest cryptocurrency has further to fall.&nbsp;
The retest comes as Bitcoin tracks toward a rare three-straight quarterly decline.
While some traders point to Bitcoin's recent resilience and flag potential support near current levels, a closely followed analyst is bracing for more pain.
<a href="https://www.thestreet.com/crypto/markets/cathie-wood-backed-crypto-stock-drops-over-90" rel="noopener noreferrer nofollow">Related: Cathie Wood-backed crypto stock drops over 90%</a>
<h2 id="a-rare-three-quarter-losing-streak-comes-into-view">A rare three-quarter losing streak comes into view</h2>
Bitcoin's slide has been steep and sustained. As per <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">CoinGecko</a>, King crypto has shed nearly 20% over the past month and is down more than 32% year to date, leaving it well below the $126,080 record it set in October 2025.&nbsp;
A third consecutive negative quarter would be rare for an asset more accustomed to sharp but short-lived drawdowns, and it has revived debate over whether this cycle has structurally shifted.
<figure><a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow"><img src="https://www.thestreet.com/.image/c_fit%2Ch_675%2Cw_1200/MjI0NDI4NDYxMTQ0NDE3Mzg5/screenshot-2026-06-29-at-84233pm.png" height="621" width="1200"></a>
 <figcaption>
 BTC/USD. Souce<a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow"></a>
 Decibel
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</figure>
At press time, Bitcoin was changing hands near $58,990, off about 1.26% over the prior 24 hours.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
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</ul>
<h2 id="rekt-capital-sees-a-2022-repeat">Rekt Capital sees a 2022 repeat</h2>
Analyst Rekt Capital is among those expecting the downturn to deepen. In his <a href="https://x.com/rektcapital/status/2070871706927796642" rel="noopener noreferrer nofollow">read, </a>the current cycle is closely echoing Bitcoin's brutal 2022 bear market, when it collapsed from the high of near $40,000 to roughly $16,000 amid a wave of crypto blowups.&nbsp;
<blockquote>
 "This cycle has repeated 2022 tendencies very closely thus far and looks like that will continue throughout the summer," he wrote.
</blockquote>
Central to his call is the 50-month exponential moving average (EMA), which is a long-term trend line spanning about four years that currently sits near $65,600.&nbsp;
<figure>
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 Bitcoin EMA (Source: @rektcapital via X)
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Rekt Capital expects Bitcoin to close <a href="https://www.thestreet.com/crypto/markets/bitcoin-is-not-dead-veteran-trader-says-dont-mistake-a-bear-market-for-the-end" rel="noopener noreferrer nofollow">June </a>beneath that level, flipping what was once support into overhead resistance for July.&nbsp;
He anticipates a rejection there in August, a setup that would keep selling pressure firmly in control through the summer. With Bitcoin holding below the average for now, the technical picture leans bearish.
<a href="https://www.thestreet.com/crypto/markets/bitcoin-is-falling-with-gold-but-this-legendary-analyst-says-real-reason-may-surprise-investors" rel="noopener noreferrer nofollow">Related: Legendary analyst sends surprising message on Bitcoin's drop with gold</a>

Analyst warns Bitcoin's rare decline could mirror 2022 collapse

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