value has been somewhat in a consolidation phase near the $70k mark for quite a few days. If the latest analysis is to be believed, then investors might not witness an unprecedented price rise in the near term., BTC’s value just dropped under the $70k mark. The token’s value went down marginally in the last 24 hours. At press time, it was trading at $69,973.35 with a market capitalization of over $1.38 billion.
Additionally, the tweet mentioned that BTC consolidating in between $60k and its ATH seemed likely to happen.AMBCrypto checked BTC’s metrics to find out whether BTC will continue to remain less volatile in the upcoming week. Our analysis of Hyblock Capital’s data also revealed a similar scenario to the aforementioned analysis.
Similarly, southward BTC’s support lies near $69k. If it fails to test that support, then BTC’s price might as well reach $63k.An analysis of Glassnode’s data revealed that BTC’s network-to-value ratio increased in the last few days. Whenever the metric rises, it indicates that an asset is overvalued, suggesting that the chances of a price correction are high.To double-check whether a price correction next week is inevitable, AMBCrypto took a look at its daily chart.
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