What is a bullish cryptocurrency exchange?

In the ever-evolving landscape of cryptocurrency markets, it's essential to understand the different dynamics and players that shape these markets. Could you please elaborate on the concept of a bullish cryptocurrency exchange? Specifically, I'm interested in knowing how such exchanges are characterized, what factors contribute to their bullish sentiment, and how investors can identify and capitalize on opportunities presented by bullish exchanges. Additionally, I'd like to understand the potential risks associated with trading on bullish exchanges and how to mitigate them effectively.