Bitcoin Creating Ripples with a Rise in Exchange Wallet Holding-How Important Is This for BTC Price Rally?


20 Nov 2023 1:42 PM

Bitcoin continues to gain mainstream attention as its proponent gets elected as the President of Argentina. Along with this, some other factors point towards the resurgence of a bullish trend, which may elevate the price to $40,000...

  • Bitcoin is gaining mainstream attention as the President of Argentina is a proponent of cryptocurrency.
  • Several factors indicate a resurgence of a bullish trend, potentially pushing the price to $40,000.
  • The BTC price has been displaying strong bullish momentum and has found resistance at $37,500.
  • Bullish candles have been printed for the past five weeks, a rare occurrence in the past three years.
  • On-chain indicators show a significant increase in BTC held by crypto exchange wallets, with a monthly increase of $1.16 billion.

The article has an overall positive sentiment, highlighting the bullish momentum of Bitcoin and the increase in investor confidence in centralized exchanges.

Go to publisher site

You May Ask

What factors suggest a potential bull phase in the crypto space?How much has BTC held by crypto exchange wallets increased by monthly?What caused concerns about the safety of assets on exchanges?What recent event could be linked to the rise in BTC held over exchanges?What is the short-term price target for Bitcoin?

Suggested Reads