Bitcoin experienced a rise last week, breaking out of its recent range and going through a period of high volatility. During these events, some previously stagnant networks began to show signs of activity once again.
Short-term holders transferred 33,155 bitcoins as shown by the 1w-1m spent output age bands. This could present immediate selling pressure. The slowdown in price suggests that Bitcoin might initiate a free pullback.
If these age band movements increase, extra caution is advised as it could become more intense at times. Make sure to keep an eye on this.
Written by XBTManager
