TechFlow News, June 11: In its latest weekly report, Glassnode stated that after Bitcoin fell to near $60,000, short-term holders’ unrealized losses deepened—over 95% of short-term holders are now in unrealized loss territory—and realized losses are accelerating, signaling the market is entering a further capitulation phase. The report noted that institutional demand in the U.S. has clearly weakened, Coinbase’s premium remains persistently negative, and corporate treasury buying has significantly slowed since June.
Meanwhile, BTC’s break below key support triggered widespread leveraged long liquidations; implied volatility in the options market rose, and demand for downside protection strengthened. Glassnode pointed out that although valuations have entered a historically deep discount zone, demand recovery associated with a durable bottom has yet to materialize.
