Summary
TLDR: Bitcoin’s price has surged by 43.2% in February, potentially marking its best month in over three years. The amount of Bitcoin held on exchanges has decreased significantly over the years, with only about 2 million BTC currently on exchanges. This could contribute to increased volatility in the market.
Key Points
1. Bitcoin’s price has surged by 43.2% in February, marking its best month in over three years.
2. Bitcoin needs to hit around $70,000 this month to surpass the May 2019 candle, which was the second largest green monthly candle since May 2019.
3. The amount of bitcoin held on exchanges has decreased significantly over the past five years, with exchange reserves on track to dip below 2 million BTC for the first time since December 2017.