[Rising Bitcoin spending raises concerns about selling pressure]
According to recent data from CryptoQuant, Bitcoin (BTC) spending has increased significantly, with large amounts of Bitcoin being transferred to exchanges. In particular, Bitcoins in the age groups of 1 month to 3 months (1M-3M), 3 months to 6 months (3M-6M), and 6 months to 12 months (6M-12M) are most affected.
The data shows that 40% of the Bitcoins used are in the 3M-6M age group, 20% are in the 6M-12M age group, and the rest are spread across different age groups. The movement of these Bitcoins to exchanges will be a major driver of selling pressure in the market.
Further analysis suggests that in the short term, this selling pressure will be further amplified by any increase in Bitcoin price. It also means that after rising prices, the market could fall sharply, a possibility that some analysts call a "free fall."
The recent increase in Bitcoin spending and its movement to exchanges demonstrates the unpredictability of the digital currency market. Due to the relatively high volatility of this market, market participants such as investors and traders should be prepared for price fluctuations. Overall, this trend highlights the importance of tracking Bitcoin spending trends and inflows into exchanges to better understand its future direction. As always, it is always wise to stay awake and alert and pay attention to any changes in the cryptocurrency market.
