Bitfinex: Selling pressure from long-term Bitcoin holders appears to have eased

Bitfinex analyzed that the cryptocurrency market's recovery over the weekend does not necessarily mean the downturn has ended. However, a positive driving factor is that the continuous selling pressure from long-term holders (LTH) seems to have weakened. The LTH supply has remained stable at around 14.8 million bitcoins since January, down from 16.2 million bitcoins. This stability indicates a reduction in selling pressure. In addition, Germany's selling of bitcoin seems to have ended, and the US Securities and Exchange Commission (SEC) has also ended its investigation into Hiro Systems and Paxful.