Analyst: Bitcoin’s panic selloff may be nearing its end, with marginal sell pressure running out

BlockBeats message, July 14: Several market analysts believe that Bitcoin’s months-long panic selling may be nearing its end, as marginal sell pressure is gradually drying up.

Wintermute OTC trader Jasper De Maere said that although the recent escalation of the US-Iran conflict and tensions in the Strait of Hormuz have intensified, Bitcoin is still holding above $62k, showing that the earlier “weak hands” sell orders have essentially been cleared. In addition, US spot Bitcoin ETFs recorded a net inflow of $197.4 million last week, ending the prior streak of eight consecutive weeks of net outflows, which also further reflects that selling pressure is weakening.

Nexo analyst Dessislava Ianeva cited Glassnode data, saying that in June, the Bitcoin spot market saw an average daily net sell of about 2,000 BTC, while in July it has fallen to about 53 BTC, one of the quietest months since 2026.

However, analysts also remind that the current Bitcoin rebound is mainly driven by the derivatives market, while spot buying demand remains relatively weak. The US June CPI data to be released soon this week, and the congressional testimony by Federal Reserve Chair Kevin Warsh, may still become important catalysts affecting market direction.