BlockBeats News, July 30th, Bitfinex announced that despite Bitcoin's price dropping from $82,000 to below $58,000, long-term holders have continued to accumulate. However, as selling pressure has weakened, the rate of accumulation has significantly slowed down, with a net increase of about 40,000 BTC in late May, compared to around 14,000 BTC in late July.

Bitfinex believes that the current market is more like entering a stabilization phase rather than experiencing a substantial recovery.