Analysis: Large-scale transfers of BTC with multiple holding periods occurred between September 18th and 24th.

Golden Finance reported that XBT Manager, an analyst at Cryptoquant, reported that in the recent pump trend of BTC price, network activity has significantly increased, which may bring new selling pressure. Data shows that there have been large-scale transfers of BTC in multiple holding periods from September 18th to 24th. Among them, 4,924 BTC held for 2-3 years and 16,707 BTC held for 1 week to 1 month were transferred on September 18; On September 23, 29,292 BTC held for 6-12 months were transferred. XBTManager pointed out that the significant movement of coin volume in these stages during this period reflects the continuous transfer activity on the BTC network. Analyzing whether these BTC are being transferred into the exchange will help evaluate the potential selling pressure Depth. With the increasing transfer activity on the network, the pump momentum of BTC is starting to slow down.