👀 According to AMBCrypto: What's Next for $BTC ?

At press time, BTC was trading at $64,293.03 and its price had grown by 0.70% in the last 24 hours. The volume at which BTC was trading at had grown by 27.12% as well.

If the positive sentiment persists, the price of BTC could claim the $65,000 level and start its journey towards $70,000.

However, there were some problems that BTC could face on its way to the top. One of them would be the declining velocity being seen for BTC.

Despite the surge in volume, the velocity around BTC in the last few days had fallen, implying that the frequency with which BTC was being traded at had declined.

Even though there are some challenges that BTC is facing, the selling pressure on most of the holders is relatively low.

One of the main reasons for the same would be the declining MVRV ratio for BTC, which indicated that most holders were in losses at the time of writing.

This meant that BTC could continue to rise to a certain level till holders turn profitable. After this, profit taking may take place and a slight correction may occur.