In a recent development, Bitcoin spending has seen a significant surge. As per data from yesterday, Bitcoins from the 1M-3M, 3M-6M, and 6M-12M age bands have been transferred to exchanges.

The data reveals that 40% of the transferred Bitcoins are from the 3M-6M range, 20% from the 6M-12M range, with the remaining portion being a mix. This influx of Bitcoins into exchanges is likely to create selling pressure in the short term.

The analysis suggests that following a certain rise, the selling pressure is expected to increase, potentially leading to a free fall. However, it's crucial to note that this is a short-term analysis and the long-term outlook remains optimistic.

This report was compiled by XBTManager, a leading source for Bitcoin and blockchain news.