The SEC concluded its review of several cryptocurrencies this week, boosting the prices of some altcoins. BNB rose 6.8% on Thursday after Paxos confirmed that the SEC dropped its investigation into its sister stablecoin BUSD. STX's market value recovered on Friday after Stacks infrastructure provider Hiro also announced that the SEC had ended its three-year investigation into it. Earlier this month, a ruling by the Federal Court "reaffirmed" ETH's commodity status. Although this is a non-binding decision, the court can consider this in future cryptocurrency-related cases, including those surrounding small-cap tokens. XRP and Cardano (ADA), two tokens that have long been under SEC scrutiny, have both risen 19% in recent days.

Bitcoin now also appears to be free of the seller pressure from the German government, which sent its last remaining Bitcoin to the exchange on Friday. Its wallet has held about 50,000 BTC for several months, but now its balance has dropped to zero. In the past few weeks, Bitcoin selling pressure from Germany, the United States and Mt. Gox creditors has been a popular narrative that has panicked the market. Currently, as the difficulty of Bitcoin mining has dropped significantly, short-term traders are panicking and selling at a loss. On-chain analysts believe that it may be at or near a local bottom.