The direct answer: Bitcoin panic selling may be nearing exhaustion, but the brief does not prove a durable recovery. Analysts point to fewer marginal sellers, BTC staying above $62,000, U.S. spot Bitcoin ETFs recording $197.4 million in net inflows last week, and Glassnode-cited spot selling falling from about 2,000 BTC per day in June to about 53 BTC per day in July. The main caution is that the rebound is still described as derivatives-led while spot buying remains relatively weak.
| Primary source | Jinse Finance |
|---|---|
| Reported at | 2026-07-13T16:22:36.000Z |
| Topic | BTC |
| Evidence limit | Reported facts are separated from interpretation; current prices and platform terms require independent verification. |
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The brief’s core signal is that Bitcoin sellers may be running out of pressure at the margin. Analysts do not say all risk has passed. They say the market is showing signs that the forced or fear-driven selling phase may be losing intensity.
Wintermute OTC trader Jasper De Maere is cited as noting that Bitcoin stayed above $62,000 even as U.S.-Iran tensions escalated and the Strait of Hormuz situation remained tense. In this reading, the market absorbed stress without breaking lower, suggesting earlier weak-hand selling had largely cleared.
ETF Flow Signal
The U.S. spot Bitcoin ETF flow data adds another piece of evidence. The brief says U.S. spot Bitcoin ETFs recorded $197.4 million in net inflows last week, ending eight consecutive weeks of net outflows.
That flow shift matters because ETF redemptions and inflows can reflect institutional demand pressure. A move from repeated outflows to net inflows does not guarantee a trend reversal, but it supports the argument that selling pressure is easing.
Spot Selling Data
Nexo analyst Dessislava Ianeva is cited as referencing Glassnode data showing a steep decline in Bitcoin spot-market net selling. According to the brief, June saw average daily net selling of about 2,000 BTC, while July had fallen to about 53 BTC per day.
That is the strongest numerical evidence in the event brief. It suggests that the spot market had become much calmer by July. The brief describes July as one of the quietest months of 2026 so far, based on that selling measure.
Why the Signal Is Not Enough
The same brief also gives the main reason not to overread the move: analysts say Bitcoin’s rebound is being driven mainly by derivatives markets, while spot buying remains relatively weak.
That distinction is important for traders and long-term holders. A derivatives-led rebound can move quickly, but it can also reverse quickly if positioning changes. Strong spot demand would be a cleaner confirmation that buyers are absorbing supply directly.
Catalysts to Watch
The brief names two near-term catalysts: U.S. June CPI data and congressional testimony from Federal Reserve Chair Kevin Warsh. Both could affect expectations for rates, liquidity, and risk appetite.
A practical check is to compare Bitcoin’s reaction to those events with ETF flows and spot-market selling. If BTC holds key levels while spot selling stays low and ETF flows remain positive, the exhaustion thesis becomes more credible. If spot buying remains weak and price action depends mainly on derivatives, the signal stays fragile.
OKX Context
For readers using OKX or comparing BTC venues, this is a risk-management story rather than a signal to chase price. The useful takeaway is to separate evidence of weaker selling from proof of strong buying.
OKX users can treat the event as a checklist: watch BTC spot depth, derivatives positioning, ETF flow direction, macro catalysts, and whether price resilience survives fresh data. A referral code or exchange access link can be useful operational context, but it does not change the market risk described in the brief.
Evidence Limits and Risk Disclosure
This article uses only the supplied July 13, 2026 event brief. It does not verify the original Coindesk article, ETF database entries, Glassnode dashboard, or live market prices independently.
Nothing here is financial advice. Bitcoin can move sharply on macro data, geopolitical headlines, ETF flows, derivatives liquidations, and changes in spot demand. The brief supports a cautious exhaustion thesis, not a guaranteed bottom, ranking claim, or return forecast.
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Review OKXAffiliate link · Availability varies by region · No guaranteed outcomeQuestions readers ask
Is Bitcoin panic selling over?
The brief says analysts believe panic selling may be close to ending, but it does not prove the process is complete. The evidence points to weaker marginal selling, not a guaranteed market bottom.
What evidence supports the Bitcoin seller exhaustion thesis?
The cited evidence includes BTC holding above $62,000 during geopolitical tension, $197.4 million in U.S. spot Bitcoin ETF net inflows last week, and Glassnode-cited daily net spot selling falling from about 2,000 BTC in June to about 53 BTC in July.
Why are analysts still cautious on BTC?
They are cautious because the rebound is described as mainly derivatives-driven, while spot buying remains relatively weak. That makes the recovery less confirmed than a move supported by stronger spot demand.
Why do U.S. spot Bitcoin ETF flows matter here?
ETF flows are useful because they show whether listed spot Bitcoin products are seeing net demand or net withdrawals. In the brief, a shift to $197.4 million of net inflows after eight weeks of outflows supports the view that sell pressure is easing.
What macro events could affect Bitcoin next?
The brief names U.S. June CPI data and congressional testimony from Federal Reserve Chair Kevin Warsh as important upcoming catalysts. These events could affect risk appetite and market expectations.
How should OKX users interpret this BTC update?
OKX users should treat it as a market-structure update, not a trading instruction. The practical approach is to watch whether spot demand improves, ETF inflows continue, and BTC remains resilient after macro catalysts.