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Crypto Market Recap: Could BTC Drop to $20K?; Zcash Crash Sparks Contagion Fears; Mastercard Bets on Stablecoins; and More (Jun 1–7, 2026)

Crypto Market Recap: Could BTC Drop to $20K?; Zcash Crash Sparks Contagion Fears; Mastercard Bets on Stablecoins; and More (Jun 1–7, 2026)

Crypto markets had a rough week. Bitcoin edged dangerously close to $60,000 while Ethereum crashed to a 13-month low, wiping out billions in leveraged positions and rattling investor confidence. Now, Peter Schiff is warning BTC could fall all the way to $20,000 if key support breaks, and not everyone is laughing it off.

A critical bug buried inside Zcash’s privacy protocol, uncovered by an AI model, deepened the damage, sending the ZEC coin price plunging 50% and triggering a wave of DeFi withdrawals.

On the brighter side, Mastercard quietly made one of its biggest crypto moves yet, enabling stablecoin settlement across seven blockchains. It’s been a week of sharp swings and big…

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