Analyst: Bitcoin Selling Pressure Has Significantly Weakened, Decreasing Sensitivity to Regulation and Policy

**April 29 — Former President Donald Trump has directed aides to prepare for an extended U.S. Navy blockade of the Strait of Hormuz, pushing Brent crude oil above $111 per barrel—while Bitcoin trades in a narrow range.** Trump said Tuesday Iran is “in a state of collapse.” Tehran, meanwhile, has floated accepting a temporary deal to reopen the strait if Washington lifts its blockade of Iranian ports. Split Research founder Zaheer Ebtikar noted in a report that Bitcoin’s relative calm signals a shift in market structure. “The supply surplus has finally been absorbed, and panic sellers driven by macro shifts or quantum concerns have long exited—making selling pressure noticeably weaker than it was just a few months ago,” he said. Ebtikar added: “Bitcoin’s sensitivity to regulatory noise or central bank policy is far lower than many assume. Its volatility sensitivity is purely a function of broader market swings; since we’re in a relatively quiet trading range now, there’s no immediate urgency to exit.” Bitget analysts identify $75,000 as a key support level that’s held since late March—breaking below it could open further downside. A bounce from current levels to $80,000 would preserve Bitcoin’s uptrend structure, clearing the way to retest the resistance level that’s rejected every rally since February.