Bitcoin Drops Below $60,000, Faces First Back-to-Back Quarterly Loss Since 2018

According to CoinDesk, bitcoin has fallen below $60,000 and is on track for a rare back-to-back quarterly loss, a pattern seen only twice in BTC's history. Despite Q2 historically being one of bitcoin's stronger quarters — averaging gains over the past decade — the asset is set to break that trend. Key drivers include outflows from U.S. spot bitcoin ETFs, a hawkish Federal Reserve under new Chair Kevin Warsh, a U.S. dollar near a seven-month high, and capital rotating toward semiconductor and memory-chip stocks amid the ongoing AI boom. A tech-stock selloff earlier in the week added further pressure. Traders will be watching whether ETF outflows and soft demand ease in Q3, or if first-half weakness carries into the second half of 2026.