Bitfinex published an analysis that the recovery of the cryptocurrency market over the weekend does not necessarily mean that the downturn is over, but a positive driving factor is that the near-continuous selling pressure from long-term holders (LTH) seems to have weakened, and the supply of LTH has stabilized from 16.2 million bitcoins in January to around 14.8 million bitcoins. This stability indicates that the selling pressure has eased. In addition, the German sell-off of Bitcoin seems to have ended, and the U.S. Securities and Exchange Commission (SEC) has also ended its investigation into Hiro Systems and Paxful.