Bitcoin trades in $60k–$72k range as short-term holder profitability drops to 4.9%

Bitcoin is trading between $60,000 and $72,000 after breaking below the True Market Mean near $79,200, while short-term holder profitability has fallen to 4.9%, Glassnode's Week OnChain report for week 06/2026 shows. Overhead supply held at unrealized losses in the $82,000–$97,000 and $100,000–$117,000 zones is likely to cap relief rallies, and the Realized Price around $55,000 marks a lower boundary where deeper declines could trigger broader capitulation. Off-chain flows turned negative, with net outflows across ETFs, corporate reserves, and governments reflecting a de-risking phase; spot volumes spiked during sell-offs then faded, and futures cooled as perpetual premiums compressed to neutral. Options metrics underscore defensive positioning, with implied volatility up 20 points for one-week contracts, negative 25-delta skew down to -23% for one-month, dealers short gamma shaping buy-into-strength and sell-into-weakness hedging flows, heavy put open interest below $60,000–$70,000 for near-term expiries, and calls clustered far above $120,000; reclaiming $79,200 or absorbing supply through prolonged ranging would be needed for a regime shift.