There has been an increase in Bitcoin spending. According to yesterday's data, some Bitcoins in the 1M-3M, 3M-6M, and 6M-12M age bands have been sent to exchanges.
40% of the sent Bitcoins are in the 3M-6M range, 20% are in the 6M-12M range, and the remaining portion is mixed.
These sent Bitcoins will create selling pressure. This analysis covers the short term, indicating that after a certain rise, the selling pressure will increase, and it looks like we will enter free fall again.
Written by XBTManager
