Opinion: The selling pressure of long-term Bitcoin holders seems to have eased
Bitfinex's analysis suggests that the recovery of the cryptocurrency market last weekend does not necessarily mean that the downturn has ended. However, a positive factor is that the near-continuous selling pressure from Long Term Holders (LTH) seems to have eased. The LTH supply has stabilized at around 14.8 million bitcoins from 16.2 million in January, indicating a reduction in selling pressure. In addition, Germany's sell-off of Bitcoin appears to be over, and the U.S Securities and Exchange Commission (SEC) has also concluded its investigations into Hiro Systems and Paxful.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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