Bitcoin investors seem to be gearing up for action with an interesting timing of withdrawal from exchanges. Serious money has been on the move from exchanges in the past two weeks, as shown by on-chain data. Over the last two weeks, nearly 25,000 BTC worth over $1 billion have been withdrawn from major crypto exchanges.
The question that arises now is whether or not this would set off a resumption of the bull run for Bitcoin amongst other current factors in the crypto industry.
Massive Transfer Off Exchanges
Bitcoin crossed $38,000 last week but has struggled to gain a footing above the price level. Despite this, the price of the asset is still showing signs of strength despite corrections in many cryptocurrencies. Data from CoinMarketCap shows Bitcoin is up by 3.17% in a 7-day timeframe.
Data from crypto analytics platform Glassnode indicates that bitcoin bulls are accumulating for the long haul in anticipation of higher prices. Crypto analyst Ali Martinez noted this bull accumulat
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