The post Bitcoin Creating Ripples with a Rise in Exchange Wallet Holding-How Important Is This for BTC Price Rally? appeared first on Coinpedia Fintech News
The Bitcoin bull market is in progress! The BTC price has been displaying strong bullish momentum as the bulls appear to have found a strong support band. After a choppy weekend, Bitcoin rallied into the weekly close in the last few days. The price has found its resistance at $37,500 and has been trading just below these levels.
The BTC price has been printing bullish candles for 5th consecutive weeks, which is only the second time in the past 3 years. The recent technicals and the on-chain indicators reveal a jaw-dropping surge in BTC held by crypto exchange wallets. The levels soared at an unprecedented pace of a whopping $1.16 billion in monthly increases.
What does this rise to suggest?
The surge suggests a potential bull phase in the crypto space. With this, centralized exchanges come into focus as the BTC held is at its hig
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