Analysis: A large-scale transfer of BTC with multiple holding periods occurred from September 18 to 24

ChainCatcher news, Cryptoquant analyst XBTManager reports that during the recent upward trend in Bitcoin prices, network activity has significantly increased, which may bring new selling pressure. Data shows that from September 18 to 24, there were large-scale transfers of Bitcoin across multiple holding periods. On September 18, 4,924 Bitcoins held for 2-3 years and 16,707 Bitcoins held for 1 week to 1 month were transferred; on September 23, an even larger transfer of 29,292 Bitcoins held for 6-12 months occurred.

XBTManager points out that the significant movement of coins at various stages during this period reflects ongoing transfer activity on the Bitcoin network. Analyzing whether these Bitcoins are being transferred to exchanges will help assess the potential depth of selling pressure. As network transfer activity increases, the upward momentum of Bitcoin begins to slow down.