Bitcoin's prolonged panic selling may be nearing its end as the cryptocurrency shows price resilience despite geopolitical tensions and rising oil prices. Bitcoin has maintained a level of $62,000, contrasting with declines seen in March and April under similar conditions. Wintermute trader Jasper De Maere noted that weaker hands have largely exited the market. Additionally, U.S. spot Bitcoin ETFs saw a net inflow of $197 million last week, breaking an eight-week streak of outflows. While De Maere cautioned that a single reversal does not establish a trend, marginal sellers are depleting. Nexo analyst Dessislava Ianeva highlighted a slowdown in daily net Bitcoin sales from nearly 2,000 BTC in June to just 53 BTC in July, marking one of the calmest months of 2026, excluding April. However, FxPro's chief market analyst Alex Kuptsikevich warned that the current rebound is primarily driven by derivatives traders, with the spot market remaining pessimistic. Without strong buyer liquidity, prices may continue to fluctuate in the coming months. This week's U.S. CPI data and Federal Reserve Chair Warsh's first congressional testimony are expected to be key directional factors.