Bitcoin just had its worst month in more than a year

Bitcoin just finished its worst month since May 2021, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second biggest cryptocurrency by market capitalization, ended the same period down by about 47%.

Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market, in particular, has been rocked in recent weeks, as major companies face solvency crises.

In May, the popular U.S. dollar-pegged stablecoin project UST — and its sister token luna — imploded, tallying a $60 billion collective loss. Then in early June, lending firm Celsius, which promised users high yields for their digital currency…