The recent report from Bitfinex indicated that the selling pressure on Bitcoin (BTC) from short-term holders might be decreasing, giving hope for a potential price recovery sooner than anticipated.

The Exchange Whale Ratio showed a spike, indicating that whales were depositing large amounts in exchanges to sell and take profits, contributing to the bearish trend since BTC's all-time high in March. However, once this ratio stabilizes, it could mean that whales and long-term holders. have finished selling their supply, preventing further downward corrections.

Short-term holders, who dominate the selling pressure currently, own BTC for one week to one month, as shown by the Realized Loss metric. These holders often trigger significant market responses, affecting Bitcoin's spot price based on their cost basis over one week to one month.

Additionally, the Bitcoin Fundamental Index (BFI), which assesses wallet activity and transaction volume, is at a point indicating a potential price increase for BTC in the near future.