In the fast-moving world of cryptocurrency, mental strength can be just as important as market knowledge. Crypto influencer AltcoinGordon recently reminded traders of a powerful truth: “You only lose when you quit.”
His message comes at a time when the crypto market is going through another wave of volatility. On June 16, 2025, Bitcoin (BTC) dropped by 3.2% in just 6 hours — sliding from $68,500 to $66,300. Ethereum (ETH) also dipped by 2.8%, trading from $3,550 down to $3,450. These dips reflect broader uncertainty in the financial world, as the S&P 500 also fell by 1.1% that same day.
What’s Behind the Crypto Drop?
This latest crypto correction appears tied to the overall “risk-off” mood in traditional finance. As investors pulled out of tech stocks and riskier assets, the crypto market followed suit. Stock indexes like the Nasdaq dropped 1.5%, and even crypto-focused stocks such as Coinbase (COIN) were down by 2.3%.
Despite the drop, trading activity actually surged. Bitcoin’s trading volume increased by 18%, reaching $32 billion across major platforms like Binance and Coinbase. Ethereum also saw a 15% bump in volume, hitting $14 billion. These numbers suggest that while some investors were panic selling, others saw an opportunity to buy the dip.
Signs of Accumulation and Recovery?
Technical indicators hint that the worst may be behind us — at least for now. As of June 16, Bitcoin’s Relative Strength Index (RSI) fell to 38, while Ethereum’s RSI hit 41. Both numbers suggest these assets may be oversold, opening the door for a potential bounce back.
On-chain data supports this theory too. Blockchain analytics platform Glassnode reported a 12% increase in the number of wallets holding more than 1 BTC, a clear sign of accumulation. Grayscale’s Bitcoin Trust (GBTC) also recorded a 9% rise in institutional inflows, suggesting that long-term players are stepping in while prices are low.
Crypto and Stock Market: Still Closely Connected
Interestingly, Bitcoin’s 30-day correlation with the S&P 500 now stands at 0.68 — showing that crypto is still very much influenced by global stock market sentiment. This high correlation means that any rally or decline in the traditional financial markets could directly impact crypto prices.
Takeaway: Resilience Pays Off in Crypto
AltcoinGordon’s message couldn’t be more relevant today. The ups and downs of the market are part of the journey. But for investors who stay patient, manage their risk, and focus on the long term, these dips could be moments of opportunity rather than panic.
In short: markets may shake, but mindset is what separates winners from quitters.