{"id":74174,"date":"2026-06-17T17:48:44","date_gmt":"2026-06-17T17:48:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/glassnode-signals-bitcoin-base-building-as-traders-push-price-back-above-65700\/"},"modified":"2026-06-17T17:48:44","modified_gmt":"2026-06-17T17:48:44","slug":"glassnode-signals-bitcoin-base-building-as-traders-push-price-back-above-65700","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/glassnode-signals-bitcoin-base-building-as-traders-push-price-back-above-65700\/","title":{"rendered":"Glassnode Signals Bitcoin Base Building as Traders Push Price Back Above $65,700"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin hit $64,503 before rebounding, leaving BTC nearly flat at 0.1% for June 17.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Glassnode says BTC demand improved as spot CVD went from negative to breakeven.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Analysts warn of thin liquidity, with spot volume down 40.4% as markets await the June FOMC.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2> <span>Leverage<\/span> Liquidations Subside<\/h2>\n<p> <span>Bitcoin<\/span> traded sideways on Wednesday as global markets awaited the formal signing of the U.S.-Iran memorandum of understanding on Friday. Market data show that while the <span>cryptocurrency<\/span> spiked to an intraday high of $66,025 just before 10:30 p.m. Tuesday, it largely fluctuated within a narrow band between $65,500 and $65,750 until the early hours of Wednesday.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p>The stalemate broke early Wednesday as <span>bitcoin<\/span> dropped sharply, shedding more than $1,000 in value to hit an intraday low of $64,503 at 7:05 a.m. EDT. The dip was short-lived; a swift rebound pushed the <span>cryptocurrency<\/span> back above $65,700 by 12:21 p.m., setting it up to retest the $66,000 psychological threshold. Despite the intraday <span>volatility<\/span>, <span>bitcoin<\/span> ended the session down a marginal 0.1%, leaving its market capitalization virtually unchanged at approximately $1.32 trillion.<\/p>\n<p>This tight price action kept <span>leverage<\/span> liquidations relatively subdued, forcing $50.4 million in long liquidations against $28.2 million in shorts. Across the broader digital asset space, total liquidations reached $291 million, with long positions accounting for roughly $180 million of the aggregate.<\/p>\n<p>The <a href=\"https:\/\/news.bitcoin.com\/wintermute-says-bitcoins-rally-faces-another-trap-unless-etf-demand-returns\/\">quick defense<\/a> of Wednesday\u2019s lows aligns with data from Glassnode\u2019s latest weekly <a href=\"https:\/\/research.glassnode.com\/btc-market-pulse-week-25\/\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a>, which indicates <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> is carving out a tentative consolidation base after flushing out short-term speculators. On-chain metrics reveal that capitulation intensity is decelerating, while market demand has turned constructive as spot cumulative <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-trading-volume\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volume<\/a> delta (CVD) crawled out of deep negative territory back to breakeven.<\/p>\n<p>However, some analysts warn that this structural recovery is \u201chappening on thin ice.\u201d They point to a 40.4% collapse in spot <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-trading-volume\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volume<\/a> to $5.8 billion and a 3% slide in futures open interest to $30.6 billion\u2014clear signals that the bounce is currently fueled by short-covering rather than aggressive institutional buying.<\/p>\n<p>This cautious asset-specific environment mirrors the broader macroeconomic backdrop. While Monday\u2019s <a href=\"https:\/\/news.bitcoin.com\/bitcoin-jumps-above-67000-as-us-iran-deal-triggers-198m-short-liquidations\/\">initial announcement<\/a> of the U.S.-Iran accord provided an early boost, global markets turned flat by June 17 as investors paused to parse the details. With the official text still under wraps, analysts have been forced to rely on leaked drafts, which so far appear to validate public remarks from Washington and Tehran.<\/p>\n<p>Beyond immediate geopolitical developments, a distinct air of caution enveloped trading floors ahead of the Federal Open Market Committee\u2019s policy verdict. The two-day gathering\u2014the first under newly sworn-in Fed Chair Kevin Warsh\u2014is expected to offer definitive clues on the bank\u2019s monetary trajectory, particularly as the anticipated reopening of the Strait of Hormuz threatens to depress crude oil prices further and reshape the near-term <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-inflation\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">inflation<\/a> outlook.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/glassnode-signals-bitcoin-base-building-as-traders-push-price-back-above-65700\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin hit $64,503 before rebounding, leaving BTC nearly flat at 0.1% for June 17. Glassnode says BTC demand improved as spot CVD went from negative to breakeven. Analysts warn of thin liquidity, with spot volume down 40.4% as markets await the June FOMC. Leverage Liquidations Subside [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":74175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74174"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=74174"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/74174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/74175"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=74174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=74174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=74174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}