Crypto Market Endures Worst Week of 2026 Amid Growing Correlation with Macro Assets

The crypto market has been hit by its worst week of the year so far in June, with Bitcoin plummeting to $61,885 and Ethereum shedding 18% over seven days. The decline in prices has sparked concerns about a fundamental breakdown in the digital asset ecosystem.

However, Avinash Shekhar, Co-founder and CEO of Pi42, one of India's largest crypto futures platforms, takes a different view. According to him, the correction is not a sign of a structural problem but rather a momentum reset and capital rotation.

The selloff was attributed to a combination of factors including geopolitical uncertainty, significant ETF outflows that stretched to 13 consecutive days of net redemptions, and a broader shift in investor appetite away from risk assets. Shekhar pointed out that the decline in prices did not represent a structural break in the industry's long-term trajectory.

The expert also highlighted the growing correlation between crypto and broader financial markets, with investor behavior increasingly influenced by macroeconomic developments, liquidity expectations, and geopolitical events. This trend is seen as evidence of crypto's evolution into a more globally integrated asset class.