📊 $BTC #CryptoQuant : Beginner investors are capitulating and increasing selling pressure.

Approximately $2.4 billion worth of Bitcoin aged between 3 and 6 months moved on the network during the drop.

Selling pressure from some entity(ies) that bought at the beginning of the year. Possibly investors who wanted to speculate on #ETFs and Halvings being washed out of the market.

These entities can be classified as "long-term" holders, but they are possibly behaving like short-term investors, since they entered at the beginning of the year.

On the other hand, entities older than one year have not yet adopted a more significant spending pattern, indicating that true long-term holders are still holding coins.