Bitcoin is showing signs of weakness, struggling to maintain a position around $59,000, while buyers remain cautious.
At the time of writing, Bitcoin is trading at $59,300, having lost nearly 6% over the past week.
The broader crypto market is also showing weakness, with major altcoins in the “red zone.”
Ethereum has dropped to $1500, losing its second place in market capitalization to the stablecoin USDT.
The situation is exacerbated by outflows from ETFs. According to SoSoValue, Bitcoin funds have been experiencing a negative streak for seven consecutive weeks, with only occasional minor daily inflows.
Technical analyst Ali Martinez noted that Bitcoin accumulation has stalled for seven months. From November 9, 2025, to May 31, 2026 (208 consecutive days), apparent demand for BTC has not shown positive values.
BITCOIN ACCUMULATION STALLS FOR 7 MONTHS
Bitcoin apparent demand has remained negative for 208 consecutive days, recently dropping to a new low of -273,000 BTC.
This metric evaluates real spot market demand by comparing new Bitcoin creation (miner block rewards) with the… pic.twitter.com/AhUyUMZwHh
— Ali Charts (@alicharts) June 26, 2026
In June, the metric fell to a new low of -273,000 BTC.
“Negative apparent demand means a significant volume of old supply is entering circulation faster than the spot market can absorb it. This mismatch indicates selling pressure that outpaces new capital inflows, creating strong resistance for the price,” Martinez explained.
Analysts from Alphractal highlighted that short-term Bitcoin holders continue to incur losses. The price has not allowed this category of investors to “break even” for an extended period.
Experts believe this situation is “typical” for a bear market—once realized losses begin to decrease, Bitcoin is likely to form a bottom.
Meanwhile, Bitcoin has started entering the oversold zone on the daily RSI, noted analyst Ardi. The last three times the coin followed this pattern, the price corrected by 15-30%.
$BTC
The last three times BTC entered oversold territory on the daily RSI, it went on to correct roughly 15-30%.
We’re now on the verge of entering that oversold zone once again.
Most of you know I’ve been targeting an initial move back toward $54K throughout this flush.
If… pic.twitter.com/YtGJCpRZii
— Ardi (@ArdiNSC) June 26, 2026
Earlier, on June 24, Bitcoin dropped to $59,000 amid a rising U.S. dollar index.
