CryptoQuant Flags 652,000 BTC Weekly Demand Drop, Sharpest Since January 2022
Updated
Updated · TradingView · Jun 12
CryptoQuant Flags 652,000 BTC Weekly Demand Drop, Sharpest Since January 2022
3 articles · Updated · TradingView · Jun 12
Summary
A combined 652,000 BTC vanished from weekly speculative futures and apparent spot demand, the steepest contraction since January 2022, as CryptoQuant’s one-year demand gauge turned negative.
That weakening demand leaves Bitcoin near $59,000 only about 9% above its $53,600 realized price, a zone CryptoQuant says has historically aligned with major bear-market lows.
Galaxy Digital’s cycle study argues this downturn may still bottom higher than past bear markets because speculation has been more muted, with only 2 of 11 classic top signals and 4 of 13 bottom signals triggered.
Galaxy puts a base-case bottom at $40,000-$46,000, with a deeper washout at $30,000-$37,000 and a shallower floor near $51,000-$54,000, while noting prior cycle lows usually arrived 12 to 13 months after a peak.
Bitcoin’s price floor theory is rising, but demand is collapsing. Which of these powerful market forces will break first?
Have institutional ETFs finally tamed Bitcoin's brutal bear markets, or is the worst of this crypto winter yet to come?
As miners pivot to AI, is Bitcoin’s network security now tied to the boom-and-bust cycles of the AI industry?
Bitcoin Faces Historic Demand Collapse in June 2026: ETF Outflows, Institutional Exit, and Macro Headwinds Signal Prolonged Recovery
Overview
In early June 2026, Bitcoin faces a sharp contraction in demand, with its price struggling below the key $65,000 mark. This level, once strong support after February’s crash, now acts as major resistance, highlighting a shift in market dynamics and a lack of renewed buying interest. The market is marked by cautious anticipation rather than recovery, as investors wait for clear signs of demand returning. Without a sustained move above $65,000, Bitcoin remains vulnerable, and the absence of strong demand keeps the market in a state of uncertainty, delaying any potential rebound.