Deep Tide TechFlow News, June 11 — In the latest weekly report, Glassnode stated that after Bitcoin dropped close to $60,000, short-term holders' losses deepened, with over 95% of short-term holders in unrealized losses, and realized losses accelerating. The market is further entering a capitulation phase. The report noted that demand from U.S. institutions has significantly weakened, Coinbase premiums have remained in discount territory, and corporate treasury purchases have sharply slowed since June.

Meanwhile, after BTC broke through a key support level, it triggered a large-scale liquidation of leveraged longs. Implied volatility in the options market has risen, and demand for put protection has increased. Glassnode pointed out that although valuations have entered a historically deep discount zone, the rebound in demand associated with a persistent bottom has not yet appeared.