Investor confidence appears to be on the rise in the crypto market lately, and Bitcoin has been a major beneficiary of this positive trend. Consequently, there has been a continuous accumulation of BTC amongst large-scale investors despite its somewhat frustrating price action. The premier cryptocurrency’s price may have ended May beneath the psychological $70,000 mark, despite having touched the level a couple of times in the last two weeks of the month. The latest on-chain data suggests that the faith in Bitcoin has only continued to grow strong. Is BTC Primed For A Price Rally? Prominent crypto analyst Ali Martinez shared via a post on the X platform that substantial amounts of Bitcoin have been making their way out of centralized exchanges. This on-chain observation is based on the CryptoQuant Exchange Reserve metric, which tracks the amount of a particular cryptocurrency in the wallets of all centralized exchanges. Related Reading: Only 8 Altcoins Have Broken ATH Against Bitcoin Since FTX’s Collapse – Analyst Weighs In An increase in the metric’s value indicates that investors are making m ..
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