Bitfinex: Selling pressure among long-term bitcoin holders appears to have subsided
2024-07-15 12:26:07
The crypto market recovery over the weekend does not necessarily mean the downturn is over, but a positive driver is that the near-sustained selling pressure on long-term holders (LTH) appears to have abated, with LTH supply stabilizing at around 14.80 million BTC from 16.20 million BTC in January. This stability indicates that the selling pressure has eased. In addition, the German sell-off on Bitcoin appears to have ended, and the Securities Exchange Commission (SEC) has also concluded its investigation of Hiro Systems and Paxful.
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