Bitcoin stuck in a zone of uncertainty: buyer demand has plummeted to an all-time low
The first cryptocurrency continues to show alarming signals, struggling to hold around the $59,000 mark. Buyers are extremely cautious, and for good reason — fundamental indicators point to a deep demand crisis.
At the time of analysis, Bitcoin is trading at $59,300, having lost nearly 6% over the past week. The entire altcoin market is also in the "red zone": Ethereum has fallen to $1,500, losing the second spot by market capitalization to the stablecoin USDT. This is an atypical phenomenon that indicates a mass flight of investors into safe-haven assets.
Bitcoin accumulation has stalled for 7 months
Technical analysis shows that visible demand for BTC has remained negative for 208 consecutive days — from November 9, 2025, to May 31, 2026. In June, the indicator reached a new low: -273,000 BTC. This means that the volume of old supply is entering the market faster than the spot market can absorb it. Such a mismatch creates strong resistance for the price, as selling pressure significantly outpaces the inflow of new capital.
Short-term holders realize losses
Experts note that short-term Bitcoin holders continue to incur realized losses. The price has not allowed this category of investors to turn a profit for an extended period. This situation is typical of a bear market: once the volume of losses begins to decline, we can talk about the formation of a bottom.
RSI indicates risk of further correction
Bitcoin's daily RSI chart is entering the oversold zone. In the last three instances when the coin repeated this pattern, the price corrected by 15-30%. This means that the current level of $59,000 may not be the final point of the decline. In previous cases, we saw pullbacks to $54,000 and below.
My analysis: The situation resembles a classic capitulation phase, where old holders exit and new ones are in no hurry to enter. The lack of buying interest amid a seven-week streak of ETF outflows and a strengthening US dollar (DXY) creates an extremely unfavorable backdrop. I expect Bitcoin to test the $54,000–$56,000 zone in the coming weeks before we see signs of a reversal. Investors should prepare for volatility rather than a quick recovery.