continued to trade above the $70k mark, and things might soon get better for investors. The latest analysis suggested that BTC went up a resistance level, which allowed it to reach an all-time high., the king of cryptos was up by more than 12% in the last seven days. Thanks to the recent uptrend, BTC’s social volume spiked in the last few days.
This hinted at a further uptrend in the days to follow. To check if the uptrend could happen, AMBCrypto checked BTC’s metrics.Since BTC’s value crossed a resistance level, AMBCrypto checked other metrics to find out whether people are buying BTC.BTC’s exchange reserve was dropping, meaning that selling pressure on the coin was low.he miners’ position index revealed that they were selling holdings in a moderate range compared to their one-year average.
For starters, the NVT ratio is computed by dividing the market cap by the transferred on-chain volume measured in USD.
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