TechFlow News, June 17: According to The Block, K33’s latest report states that Bitcoin rebounded approximately 6% last week after two consecutive weeks of sharp declines, currently hovering near $65,000. The report notes that as of June 6, only 218,400 bitcoins—dormant for over two years and reactivated in 2026—were moved, significantly lower than levels observed during the same period over the past two years, indicating relatively weak on-chain selling pressure.
Meanwhile, long-term holders now own 79% of Bitcoin’s circulating supply—a record high. K33 interprets this as reflecting diminished willingness among holders to sell, suggesting the market environment is gradually stabilizing and the bear market may be nearing its end. However, institutions including Wintermute, Glassnode, and Bitfinex caution that ETF inflows, stablecoin growth, and institutional demand remain insufficient to confirm a sustained market reversal.
