Woofun AI data shows that Bitcoin declined approximately 14% during the second quarter, closing near $58,544 and breaking three key technical moving averages. Despite this bearish technical structure, long-term holders increased their balances to an all-time high of roughly 14.85 million BTC, absorbing supply released during the correction.

On-chain metrics indicate seller fatigue as the supply of BTC in loss exceeded that in profit, a pattern historically associated with cycle bottoms.

Meanwhile, institutional demand faced headwinds: STRC preferred shares traded below par at $74.57, and U.S. spot Bitcoin ETFs recorded net outflows totaling about 70,000 BTC over seven consecutive weeks.