Following a significant crash in the market, the flagship cryptocurrency Bitcoin has witnessed a rally and in accordance with data, fewer investors are selling their assets from exchanges. An indication from the data suggests around 2.79 million in Bitcoin was held on different crypto exchange reserves. Fewer Investors Selling Bitcoin From Crypto Exchanges Talking about the price movement of Bitcoin, it can be seen that the digital asset was changing hands around the level of $9,100, and while writing this article, it is being traded around the area of $32,746. However, it should also be noted that this level of Bitcoin is still around 50% down from its all-time high, which was $64,800. The flagship cryptocurrency managed to acquire this level back in the month of April, and hence there were high expectations that the investors are more likely to sell their holdings. In addition to this, the data indicates that from the month of April, Bitcoin on cryptocurrency exchanges surged and the lowest value was acquired at 1.8 million on April 20. Assumptions of the Community And The Continuing Bullish Trend Initially, the crypto community also assumed that maybe, the reduced selling pressure is due to most investors opting to hold Bitcoin in non-custodial private wallets. The current fall in the price of Bitcoin is due to the increased regulatory pressure on the asset from various countries and the rising concerns over the carbon footprint of Bitcoin. However, the leading market analysts are confirmed that the crypto market, and especially Bitcoin, has a bright future ahead of it and all the predictions are bullish on Bitcoin and other cryptocurrencies. Moreover, the analysts revealed that there are chances that the rally which the asset showed in early 2021, may be replicated as Bitcoin has witnessed an influx of capital investments in it.
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