Why is crypto crashing? Bitcoin price keeps dropping as major BTC selloff continues this week

Cryptocurrencies have not had a good week. Some of the biggest tokens, from Bitcoin (BTC) to Ethereum (ETH), have seen their values tumble over the first five days of June. Take Bitcoin, which has fallen more than 15 this week to about 62,300 per coin. The coin is down over 23 over the last month and more than 40 year-over-year (YOY). Bitcoin saw significant growth following the 2024 presidential election, and that growth largely continued through the first months of President Trump’s return to the White House, reaching a high of 126,279.63 in October 2025. The Trump administration’s crypto-friendly agenda had been viewed favorably among many Bitcoin investors. However, Bitcoin’s current fall brings it down to pre-election levels. Meanwhile, XRP has taken a similar path. The price of XRP also fell over 15 this week, dropping to about 1.12. It marks a little over a 21 fall over the last 30 days and about 49 YOY. Ethereum has seen the more significant drop in June, with ETH falling about 16.4 to nearly 1,675. Its price is down close to 29 in the last month and over 35 YOY. Why is crypto crashing so rapidly? Investors are turning away from crypto for a few reasons. In one regard, there are other places to invest right now that may be attracting retail traders who had traditionally been drawn to crypto—such as the upcoming SpaceX IPO, CNBC reports. Chip manufacturers, cybersecurity companies, and more are also gaining momentum through ongoing AI-related stock rallies. Meanwhile, Bitcoin just isn’t part of the zeitgeist or as big a priority in the same way it has been. While the token has declined more than 28 year to date, the tech-heavy Nasdaq Composite is up more than 15 over that same period. Then there’s the fact that Strategy Inc sold 2.5 million worth of Bitcoin last week, something it made public on Monday. Strategy’s founder and chairman Michael Saylor had previously stated, “Never sell your Bitcoin.”