🔥Hot off the press!🔥 Bitcoin (BTC) may be gearing up for a price recovery sooner than we thought! 🚀 According to Bitfinex's latest weekly report, on-chain indicators suggest that selling pressure from short-term holders might be easing up. 📉

Since BTC's all-time high in March, we've seen a bearish trend, with a new local low of $56,500. 🐻 But, the Exchange Whale Ratio, which spiked as whales made large deposits in crypto exchanges, is stabilizing. This could mean that long-term holders and whales have finished distributing their supply, preventing any further corrections. 🐳

But wait, there's more! Short-term holders often trigger significant market responses. The Realized Loss metric shows that this group currently dominates selling pressure. However, the Market Value to Realized Value (MVRV) ratio for one-week to one-month holders suggests this selling pressure might be waning. 📈

The short-term holder MVRV ratio is at 0.96, a level that often precedes a market recovery. This could mean that short-term holders are nearing selling exhaustion. 😅

Another promising sign is the Bitcoin Fundamental Index (BFI), which evaluates network health aspects like wallet activity and transaction volume. The index is at an inflection point, suggesting that BTC might be heading north soon. 🧭

Bitfinex said, "The current position of the index indicates that selling pressure is waning, while network growth has surpassed levels observed at previously identified market bottoms." So, keep your eyes peeled, BTC enthusiasts! The market might just surprise us! 🎉