Bitcoin Network Activity Surges Amid Upward Trend

Recent days have seen a notable increase in activity on the Bitcoin network, coinciding with Bitcoin's upward price trend. This heightened activity could potentially reintroduce selling pressure.

On September 18, 4,924 Bitcoins held for 2-3 years and 16,707 Bitcoins held for 1 week-1 month were moved. Subsequent days saw similar patterns, with significant movements across various age bands, including 17,160 Bitcoins on September 19 and 29,292 Bitcoins on September 23.

This surge in transfers suggests a potential shift in market dynamics. By closely monitoring whether these coins are being sent to exchanges, we can better understand the potential selling pressure. While Bitcoin's momentum remains positive, caution is advised as increased network activity could impact the upward trend.