Bitcoin · Iran · Strait of Hormuz · CoinDesk
Bitcoin panic-selling may be ending as sellers' profit margins disappear
Compiled by KHAO Editorial — aggregated from 1 source + 4 references discovered via search. See llms.txt for citation guidance.
★ Tier-1 Source
After bitcoin's BTC $ 62,215.48 28% slump this year, there are signs the wave of panic selling that has weighed on the market for months may finally be coming to an end.
Key facts
- CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B
- BTC held $62k through rounds of US airstrikes and a Hormuz closure, barely flinching
- After bitcoin's BTC $ 62,215.48 28% slump this year, there are signs the wave of panic selling that has weighed on the market for months may finally be coming to an end
- The price recovery from the year's low of $57,700, hit earlier this month, is largely driven by derivatives traders and not spot buyers, according to Alex Kuptsikevich, FxPro’s chief market analyst
Summary
Bitcoin is holding above $62,000 despite broader market weakness and rising U.S.-Iran tensions, suggesting that recent “weak hand” sellers may have been exhausted. Renewed spot crypto ETF inflows and a slowdown in spot-market activity also point to seller exhaustion. Some analysts caution that the latest price stability is still driven largely by speculative futures trading rather than robust spot demand. The first is that bitcoin's price held steady over the weekend even as U.S.-Iran hostilities escalated and crude prices spiked on Hyperliquid.