Bitcoin price flash jump to $10500 in less than 10 minutes

Bitcoin price has been stagnant, but as expected from each weekend this one is no exception as Bitcoin price jumps right before the new week in the United States.

Bitcoin price jumped from near ten thousand dollars ($10,000) mark to the whopping ten thousand six hundred and forty-six in a matter of minutes right after midnight on the Greenwich Meantime (GMT) time zone.

However, the weekend is still not over in the United States it seems that the bullish divergence predicted a few hours ago has come into play to give a last push to the Bitcoin price before the week comes to an end.

Bitcoin price flash jump to $10500 in less than 10 minutes 2Bitcoin price chart by Trading View

Bitcoin price bullish divergence

Cryptocurrency analyst and expert trader BitFink had predicted that the BTC price is looking strong. He expected it to stay above the ten thousand dollars ($10,000) mark due to the bullish divergences showing up on the exponential moving average (EMA).

The prediction confirmed itself a few hours before midnight in the Eastern Time Zone (EST) when Bitcoin price jumped by almost five hundred dollars ($500) in a matter of minutes.

On the other hand, Bitcoin traders are analysts are also worried about the thinning control over the major chunks of the cryptocurrency in circulation falling under fewer hands every passing day.

Only today, a research report revealed that less than five thousand (4652) Bitcoin wallet addresses are controlling fifty percent (50%) of the cryptocurrency in circulation.

At the time of writing, the BTC price stands at ten thousand four hundred and forty dollars ($10440). It appears that Bitcoin traders have managed to keep the king of the cryptocurrency soaring above the ten thousand dollars ($10,000) mark for another week.