Bitcoin (BTC) was able to climb over $ 10,000 with a rapid acceleration. Now the question in mind is, can BTC stay above this price level?
Bitcoin has failed to hold above $ 10,000 in the past 12 months. According to the data observed on Monday, there is a significant increase in the number of BTC entering the cryptocurrency exchanges. The number of daily BTC that entered the stock markets on Monday increased by 68,970 BTC to 130,039 BTC.
In other words, while cryptocurrencies rose to the highest level of the month, some investors carried their money to stock exchanges. Investors often want to liquidate their investments by moving the assets in their wallets to the exchanges when they don’t trust the current rally.
For this reason, there are some doubts that the current rise in Bitcoin will continue. In order for the Bitcoin price to remain in the 5-digit price range, it needs to stay above its current level for a while. In the event that it drops from a $ 10,000 level to a 4-digit price range again, sharp drops in the leading crypto asset can be seen again.
Bitcoin (BTC) is trading at $ 10,891 as of writing.