Bitcoin's weakening sell pressure hints at possible market bottom — CryptoQuant

[XAU/USD](https://www.fxstreet.com/rates-charts/xauusd) [EUR/USD](https://www.fxstreet.com/currencies/eurusd) [Trade War](https://www.fxstreet.com/macroeconomics/events/trade-war) [GBP/USD](https://www.fxstreet.com/currencies/gbpusd) [Silver](https://www.fxstreet.com/rates-charts/xagusd) [WhatsApp](https://whatsapp.com/channel/0029VaDGsU90lwgjJ5Sh8Y45)[Telegram](https://t.me/forexnews)[LinkedIn](https://www.linkedin.com/company/fxstreet)[X (Twitter)](https://x.com/FXStreetNews)[Facebook](http://www.facebook.com/FXstreet)[Instagram](https://www.instagram.com/fx_street)[YouTube](https://www.youtube.com/user/fxstreetcom/)[TikTok](https://www.tiktok.com/@fxstreet.com) [Newsletter](https://www.fxstreet.com/subscriptions) [FXStreet](https://www.fxstreet.com/ "FXStreet")[Visit Pepperstone - Sponsor (opens in new window)](http://pubads.g.doubleclick.net/gampad/clk?id=6731001804&iu=/7138/FXS30) [Upgrade](https://www.fxstreet.com/info/premium?utm_source=paywall&utm_medium=internal&utm_campaign=paywall-no-premium&utm_content=noAMP) [Login](https://www.fxstreet.com/account/login?uriToRedirect=https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fbitcoins-weakening-sell-pressure-hints-at-possible-market-bottom-cryptoquant-202606192118&step=login-options) Bitcoin (BTC) may be approaching the final stages of its current correction as selling pressure eases, according to a CryptoQuant report on Thursday. The report noted that the current phase of realized losses differs significantly from the first major sell-off earlier this year. The data suggests that many panic sellers may have already exited the market. CryptoQuant's 30-day Net Realized Profit/Loss metric reveals that the latest wave of realized losses has reached roughly 234,000 BTC. The figure stands well below the roughly 400,000 BTC recorded during the initial leg of the decline earlier in the year, despite Bitcoin trading around similar price levels.  BTC 30-day Net Realized Profit/Loss. Source: CryptoQuant "It suggests that the marginal seller is becoming weaker in size. A large part of the panic-driven supply may have already exited during the first decline," CryptoQuant analyst MorenoDV wrote. ## **Onchain data points to fading capitulation pressure** The report also highlighted the Buy/Sell Pressure Delta, which revealed that selling remains elevated. However, it is yet to reach the extreme levels typically associated with major capitulation events. "Historically, this kind of structure often appears when the market has already flushed a large portion of weak hands, but still needs one final test to force out the remaining holders trapped in deep unrealized losses," the report said.  BTC Buy/Sell Pressure Delta. Source: CryptoQuant The analyst also cautioned that broader market conditions have yet to confirm a cycle bottom. CryptoQuant’s one-year Net Realized Profit/Loss metric remains in negative territory but is still below loss levels that accompanied previous Bitcoin bear market lows. "This does not mean Bitcoin must collapse. It means the market is likely in a late-stage stress phase: weak hands have been reduced, realized loss intensity is fading, but the final confirmation is still missing," the report added. CryptoQuant noted that continued declines in realized losses, alongside price stabilization, would be a strong sign that selling pressure is easing. On the other hand, if BTC falls to new lows and realized losses rise again, it could signal a final phase of capitulation before a potential recovery. ## **Franklin Templeton amends filing to launch Bitcoin-focused dividend reinvestment ETFs** Despite the cautious onchain [outlook](https://www.fxstreet.com/rates-charts/forecast), institutional firms continue to advance investment products. Franklin Templeton [filed](https://www.sec.gov/Archives/edgar/data/1655589/000165558926000869/c485apos.htm) a post-effective amendment with the US Securities and Exchange Commission (SEC) late Thursday to launch two exchange-traded funds (ETFs) designed to combine exposure to US [equities](https://www.fxstreet.com/markets/equities) with systematic Bitcoin accumulation. The proposed Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF would invest about 95% of their portfolios in US stocks and approximately 5% in Bitcoin-related investments at launch. Rather than paying cash dividends to investors, the funds would automatically reinvest dividends into Bitcoin exposure through a "Dividend Reinvestment Plan" (DRIP) strategy. The method gradually increases their crypto allocation over time while maintaining Bitcoin as a secondary holding in the portfolio. BTC is trading at $63,010 at the time of writing. ## Related news - [Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist](https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-xrp-weaken-further-as-capital-outflows-persist-202606191200) - [Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-recovery-hopes-fade-after-the-fed-spoils-the-party-202606191035) - [Hyperliquid gains nearly 200% in 2026: Here’s why the rally could be overextended](https://www.fxstreet.com/cryptocurrencies/news/hyperliquid-gains-nearly-200-in-2026-heres-why-the-rally-could-be-overextended-202606191610) Author  [Michael Ebiekutan](https://www.fxstreet.com/author/michael-ebiekutan) FXStreet With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to More fromMichael Ebiekutan Share: [RSS Feed](https://www.fxstreet.com/cryptocurrencies/news/feed) ### Legal Text #### Editor's Picks #### [Ripple extends losses as derivatives interest cools](https://www.fxstreet.com/cryptocurrencies/news/ripple-price-forecast-xrp-extends-losses-as-derivatives-interest-cools-202606191330) Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure. #### [Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist](https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-xrp-weaken-further-as-capital-outflows-persist-202606191200) Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally. #### [Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-recovery-hopes-fade-after-the-fed-spoils-the-party-202606191035) Bitcoin is set to end the week in the red, trading near the 200-Week Simple Moving Average at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds point to a sixth consecutive week of outflows. #### [Sui risks a deeper bearish leg despite on-chain resilience](https://www.fxstreet.com/cryptocurrencies/news/sui-price-forecast-sui-risks-a-deeper-bearish-leg-despite-on-chain-resilience-202606190855) Sui is down 2% on Friday, extending its decline toward the recent support leg formed at $0.6618. The Total Value Locked in the Sui ecosystem has stabilized around 600 million SUI tokens, reflecting resilient user demand. #### [Bitcoin: Recovery hopes fade after the Fed spoils the party](https://www.fxstreet.com/cryptocurrencies/news/b