Analyst: Bitcoin panic selling or nearing the end, marginal sales are drying up

On 14 July, a number of market analysts concluded that bitcoin had been in panic for months or was nearing its end, and that the market marginal was being depleted. Wintermute's off-site trader Jasper De Maere stated that, despite the recent escalation of the American-Iraqi conflict and the tense situation in the Straits of Hormuz, Bitcoin remained on top of $62,000, indicating that the previous "weak hands" were largely cleared. In addition, the United States spot bitcoin ETF recorded a net inflow of $197.4 million last week, ending eight consecutive weeks of net outflows, further reflecting a weakening of sales pressure. Nexo Analyst Dessislava Ianeva quoted Glassnode as saying that in June, the spot market in Bitcoin sold about 2,000 BTCs on a daily basis, while in July it fell to about 53 BTCs, one of the calmest months since 2026. However, analysts have also cautioned that the current Bitco rebound is largely driven by the derivatives market and that spot purchases remain relatively weak. The upcoming release this week of CPI data and US Federal Reserve Chairman Kevin Walsh’s congressional testimony can still be an important catalyst for influencing market trends。