The token has declined nearly 7% over the past week, with altcoins posting even steeper losses. Bitcoin and Ether are both on track to close the second quarter in the red, marking an uncommon run of back-to-back losses in the first half—breaking from typical seasonal patterns.

Bitcoin slipped below the $60,000 level over the weekend, trading around $59,940 on Sunday. The asset is down 0.6% over the past 24 hours and close to 7% for the week, according to CoinDesk data, as the quarter approaches its end.

Altcoins once again led the downside. Ether dropped 9.5% on the week to roughly $1,567, while Dogecoin fell 11.7% to $0.073. Hyperliquid’s HYPE declined 10.6%, and XRP slid 8.7% to $1.04. Solana showed relative strength, easing 3.5% to $70, while Tron held up best with a modest 1.5% loss.

Throughout the week, the broader market leaned on Bitcoin’s relative stability as higher-risk assets experienced sharper sell-offs.

With only days left in the quarter, the market is wrapping up a weak first half. Bitcoin is on pace to lose about 12% in Q2 after a roughly 22% drop in Q1, based on Coinglass data. Ether has performed worse, falling around 25% in the second quarter following a 29% decline in the first.

Two consecutive losing quarters to start the year is rare for both assets, having occurred only twice before in Bitcoin’s history. Historically, the second quarter has been one of Bitcoin’s stronger periods, making this deviation notable.

The same macro drivers continue to weigh on the market. Capital has rotated into semiconductor and memory-chip stocks amid the ongoing AI boom. Meanwhile, persistent outflows from U.S. spot Bitcoin ETFs, a hawkish Federal Reserve under Chair Kevin Warsh, and a U.S. dollar near a seven-month high have pressured crypto markets. A tech stock sell-off earlier in the week added further strain.

As the third quarter approaches, traders will be watching whether ETF outflows ease and demand recovers, or if the weakness from the first half continues to carry forward.