The linguistics of nosebleeds

It just recently hit me and struck me as interesting that the nosebleed as stylized symbol in anime/manga seems to have evolved since I've been a fan. In my early days as a viewer, it seemed to be something that happened mostly (if not exclusively) to men, and always in a sexualized context. A scene of the male lead catching the female lead naked in a bath from Kimagure Orange Road springs to mind (just so I can really date myself), and collecting the '90s-vintage Psychic Force manga I've seen it come up to show a male character's homoerotic feelings. But now, watching Acchi Kocchi (admittedly a somewhat over-the-top cartoonish show), the nosebleeds happen to the girls, are more extreme and stylized, and seem to have broadened into a more generalized --- albeit somewhat hysterical --- squee gesture.

Has anyone else noticed this, or am I making a pattern out of too few data points?