Cryptoquant Analyst: The recent rise in Bitcoin prices has brought about a significant increase in network activity, which may bring new selling pressure

A Cryptoquant analyst XBTManager report shows that network activity has increased significantly during the recent upward trend in Bitcoin prices, which may bring new selling pressure. The data shows that between September 18 and 24, there were large-scale transfers of Bitcoin across multiple holding periods. XBTManager pointed out that the significant movement in currency volume during various stages during this period reflects the continued transfer activity on the Bitcoin network. Analyzing whether these Bitcoins are being moved to exchanges will help assess the potential depth of selling pressure. As online transfer activity increases, Bitcoin's upward momentum begins to slow. (Cryptoquant)