ChainCatcher news, Cryptoquant analyst XBTManager report shows that network activity has increased significantly during the recent upward trend in Bitcoin prices, which may bring new selling pressure. The data shows that between September 18 and 24, there were large-scale transfers of Bitcoin across multiple holding periods. Among them, 4,924 Bitcoins held for 2-3 years and 16,707 Bitcoins held for 1 week to 1 month were transferred on September 18; on September 23, 29,292 Bitcoins held for 6-12 months were transferred. Bitcoins are transferred.
XBTManager noted that the significant movement in coin volume during each phase of this period reflects continued transfer activity on the Bitcoin network. Analyzing whether these Bitcoins are being moved to exchanges will help assess the potential depth of selling pressure. As online transfer activity increases, Bitcoin's upward momentum begins to slow.
