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.
You may also like
CME data center outage halts futures and options trading, affecting contracts worth trillions of dollars
CME EBS market will open at 20:00
BNB Treasury company CEA Industries appoints digital asset expert Annemarie Tierney as director