K33 stated that BTC has rebounded 6% in the past week to around $65000, with long-term holder supply indicators reaching a historic high, indicating that the bear market is nearing its end. Vetle Lunde, the head of K33 research, stated that as of June 6th, only 218421 old coins of two years or more have been reactivated in 2026, indicating a significant decrease in on chain selling pressure compared to the past two years; Currently, 79% of BTC's circulating supply is held by long-term holders, reaching a historic high. The report also stated that the recent outflow pressure on ETFs has eased, and trading activity has fallen to near annual lows. However, institutions such as Wintermute, Glassnode, and Bitfinex believe that ETF fund flows, stablecoin growth, and institutional demand are not yet sufficient to confirm a sustained market reversal. （The Block） https://(wublock123.com)/news/k33-long-term-holder-supply-hits-high-btc-bear-market-ending-62962