Analyst: Bitcoin panic selling may be nearing its end as marginal selling pressure is drying up

BlockBeats news, on July 14, several market analysts believe that the months-long panic selling of Bitcoin may be nearing its end, with marginal selling in the market gradually drying up.

Jasper De Maere, an OTC trader at Wintermute, stated that despite the recent escalation of US-Iran tensions and the tense situation in the Strait of Hormuz, Bitcoin has remained steady above $62,000, indicating that the previous "weak hand" sell-off has largely been flushed out. In addition, US spot Bitcoin ETFs recorded a net inflow of $197.4 million last week, ending eight consecutive weeks of net outflows, which further reflects the weakening selling pressure.

Nexo analyst Dessislava Ianeva cited Glassnode data, pointing out that in June, the average daily net selling in the Bitcoin spot market was about 2,000 BTC, while in July it has dropped to around 53 BTC, making it one of the calmest months since 2026.

However, analysts also warn that the current Bitcoin rebound is mainly driven by the derivatives market, and spot buying remains relatively weak. The upcoming release of the US June CPI data and Federal Reserve Chairman Kevin Warsh's congressional testimony may still be important catalysts affecting market trends.