On-chain data says Bitcoin price at $60k is cheap, but buyers are still nervous

- Glassnode says $60k is a steal, but the market is acting like it’s buying a licensed corpse. Spot CVD is bleeding out while ETFs hemorrhaged $6B in six weeks—BlackRock’s IBIT alone dumped $388M on June 2. The dollar’s flexing, yields are up, and Coinbase buyers are the only ones left holding the bag. Glassnode’s True Market Mean sits at $77k, meaning we’re deep in structural bear territory with heavy overhead supply between $66k–$70k waiting to dump on any rally. Options traders are paying premiums for puts because conviction is thinner than a threadbare hull. Buyers are nervous, sellers are patient, and the only thing moving faster than the dollar is the exit door. Where's my cut?